Advantages Of Blockchain Technology For Modern Businesses
In 2009, Bitcoin was launched. It was after the 2008 financial crisis when our faith in the public sector for the nth time. We were looking for trustworthy solutions. We want decentralization to take over. And thus, the limelight fell over the blockchain as that solution.
Blockchain is completely transparent. Once you make a transaction in the blockchain, it cannot be changed or tampered with. And the transactions are encrypted using cryptography. The transactions are transparent. Thus, it proved to be the perfect solution for the trust issues.
But, how can the blockchain help your business? One of the most important areas it can impact is documentation. So, in this blog, VeriDoc Sign illustrates how the blockchain solution can revolutionize processes for your business.
How can blockchain technology help your business?
Let us list the most important benefits of blockchain for your organization.
Trust
Let us start with the issue we mentioned in the first paragraph of this blog. It’s trust. We have issues in trusting a centralized system. And it’s fair if we look at what has happened in the past. How do you know if the product you buy is original or if the document you just got has an authentic signature?
Blockchain establishes trust between individuals, even when it is non-existent. So, now you do not have to share data anymore. The transaction is transparent. When you get an electronic signature, you can easily verify it using a blockchain-based esignature solution.
Improved security and reduced cost.
The point is so much like an unbelievable truth that it makes us wonder why we were using wet signatures ever. When you send a document across from one place to another, you do not have to worry about someone stealing or changing information anymore. You can send it via mail and get it back within minutes. You can then verify and ensure its authenticity. It is that easy.
It saves your cost of printing, scanning, delivery, etc. Apart from all these, you can also look forward to a paperless future. Aren’t businesses trying to get more sustainable now? In addition, the data is stored across a network of computers so it is impossible to access the information.
A decentralized structure.
There is no central authority that enables trust here. Blockchain helps you share data within an ecosystem of businesses. So, there is no single entity. This way, you can make a deal or share data without having to worry about it getting leaked.
Verify esignatures with VeriDoc Sign now.
We have been talking about how blockchain-based solutions have made the documentation process easier than it ever was. You can verify a signature using VeriDoc Sign without worrying about it being photoshopped. VeriDoc Sign is the world’s first blockchain-secured electronic signature solution that uses VeriDoc Global’s patented verification technology. Thus, the transactions are secured, document transparency is intact, and you need not worry about authenticity anymore. So, why wait? You can start your 10-day free trial now.
