The power and benefits of the Blockchain for the FlipNpik project

Few would disagree that cryptocurrency is here to stay. It will change the way businesses operate forever. Using the blockchain technology for our platform will provide the tools for local businesses to have a cheap and efficient payment channel for both online purchases and in-store transactions.

It also allows us to create a hybrid infrastructure that records transactions that can be registered on a secure public ledger for greater transparency. Once the transaction has been made, it is accessible for scrutiny. All network participants will share the same documentation instead of individual documentation and any amends can only be processed though the consensus of all — so everyone must agree for anything to be changed on the public ledger. Therefore, greater accuracy in the first instance is crucial and central to everything on the Blockchain.Security is a key issue for any business and the blockchain offers greater security and more transparency than ever before.

All transactions must be approved before being encrypted and linked to previous transactions making hacking incredibly complex as the information is stored across a network of computers rather than just a single server. Fraud and unauthorized activity will become a thing of the past.

But this is just skimming the surface of possibility.

Blockchain enables the crypto community — investors — to contribute to the growth of FlipNpik’s platform.We have chosen the Ethereum Blockchain because of its numerous advantages and powerful standing in the crypto community. Ethereum has a large and innovative community that allows easier listing on exchanges and it also enables greater complexity with smartcontracts.

Smartcontracts eliminate the torrent of communications and going back and forth between parties with agreements validated, signed and enforced through blockchain — mediators are eliminated which saves both time and money. Speed is another huge advantage — removing the paper trails means less room for error, faster processing and less clutter. And business can save money due to less third parties or middle men — it’s all about the data on the blockchain.

Early adopters will have an edge on their competitors — disruptive technology is already changing the way we do things and as this technology grows and matures, it will offer new possibilities for social and technical innovations.

You’re either in, or you’re not — and FlipNpik is most definitely in !