Blockchain technology is continuously contributing in the digital transformation of companies. With blockchain two parties can make an exchange without the supervision or intermediation of a third party, reducing or even eliminating the counterparty risk. 33% of companies are already using blockchain technology or are considering its use shortly and 78% of those who are already exploring it do so in response to the changes that are produced in their sector or to develop new business models. Blockchain is also benefiting IoT due to their transparency and security.
Banks have been the first to explore this technology with the intention of building the next financial industry standard. After banking, the retail, energy and logistics sectors are the current markets where this technology is beginning to be used. Recently Appstudio has been classified as one of the best blockchain app developers in the region thanks to our team and skills.
Blockchains technology is here to stay. It comes with many benefits which are common to many industries. These Path-breaking benefits will redefine the way we work. Below are some of them.
Experts tell us that blockchain is a technology that is changing the game. Here at Appstudio, we are aware of the potential and benefits of this technology and hence always recommend it. Below are some of them.
The biggest advantage that blockchain technology offers to your company is the creation of a transparent business system. This will improve communication with both your employees and with your clients since traces of all transactions made are always secure and available. Any modification to public Blockchains can be seen publicly by each party, ensuring transparency. Each transaction is immutable; it cannot be deleted or modified.
Because of its digital signature and encryption, Blockchain is regarded as an extremely safe system. The arrangement is intended specifically to be safe, comfortable and forgery-proof.
Blockchain can overcome many issues, including safety and track maintaining. But how it can reduce expenses is something much more attractive to many. Forget about charges and commissions – there's no need to reward intermediaries as the mechanism is decentralized.
To become a digital intermediary, the blockchain validates each transaction in a fully automated way. In this way, eliminate any manual task that exists. Therefore, the result of eliminating intermediaries and automating tasks is an increase in efficiency and speed.
Blockchain is an excellent use case to track any product along a supply chain and ensure that the information is true. The blockchain offers greater transparency and traceability.
Audits can take place in many ways. They might be in the type of economic audits, compliance audits and legislative audits and blockchain technology can be introduced to them all. When blockchain technology is applied, the whole system becomes auditable.
Our experience allows us to assist our clients in Design, implementation, and administration of blockchain networks for cloud and on-premise environments, resistant to vulnerabilities, with high availability and performance. Appstudio offers reliable and cost-effective blockchain app development and solutions.
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