Blockchain for Business — 3 Growing Benefits

Patrick Orton
Apr 10, 2018 · 3 min read

Over the future years, the world of business may see a crucial transformation. Blockchain is upturning the tables of the financial market, the healthcare industry and a good deal else. Businesses may wonder what blockchain has to offer, but this new technology is already providing valuable keys for the business community.

#1 Smart Contracts

Smart Contracts are extremely beneficial for large and small business alike. Through blockchain and crypto-projects these contracts completely eliminate the need for third parties in the contract sector. While contracts normally involve the approval of lawyers and are continuously exchanged between the two involved parties, smart contracts spot legitimacy without the involvement of third party sources by making use of codes. Say goodbye to weeks — even months — of endless negotiation.

#2 Social Media Platforms

Already established sites like Twitter and Google may be banning cryptocurrency ads, but social media platforms are springing up across the board to take advantage of the emerging blockchain technology. Platforms like Steemit and Telegram are already practically revolving around ICOs and crypto projects. Without a doubt, social media platforms will continue to take advantage of all blockchain has to offer.

#3 Decentralized Applications

Mobile apps have changed our world. From the simplest translation apps to broader scenarios our daily life has been greatly altered by this technology. But, in our current world, Apple and Google are the prime companies to determine what apps are available to the people; even foreign governments have taken privilege to filter the apps available to its citizens. It’s time to vote the single authorities out of power with the use of Decentralized Applications. DApps are spreading rapidly across the world, bringing decentralization technology to our daily lives. These apps could very well remove the authority that large corporations and governments hold over the today’s app market.

For a long time, decentralized apps have run into a scaling problem. As increasing numbers of users join the ecosystem, data storage becomes more and more expensive. New startups are attempting to solve this problem by bringing databases to the blockchain. One of these is Shardix. This company uses an offline file-stack to manage and save the data on only participating nodes while obviating the need for inefficient scaling. By bringing these new technologies to the blockchain, Shardix could help bring decentralized applications to a wider audience.

Today’s Market is Changing

With blockchain technology developing every day, entrepreneurs, now more than ever, can take advantage of an evolving system that is providing opportunities to sectors throughout continents all around the globe. It has already started. Blockchain is rushing headlong to change the world of business as we know it. While penetration to the market has been extremely volatile, the trajectory is appearing increasingly certain.

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