4 benefits of using the blockchain in your business

The fourth industrial revolution brings a very big benefit for your company: the blockchain

Welcome to the 4.0 revolution! Blockchain technology is destined to revolutionize all aspects of the business world, from the way we make payments, to the way our business logistics works.

What is the blockchain?

It is a technology that allows us to create a special database. Its particularity is due to the fact that its data is shared and encrypted, turning it into a transparent and very secure system.

The data is distributed among different servers within a network, where members of the network can access all the information. Basically, blockchain technology is a nightmare for cybercriminals.

This technology was made known by Bitcoin, being its first application on a large scale. Now it is also known for having an infinity of uses that will allow you to improve all the processes of your company.

We tell you the 4 main benefits of using the blockchain art in your business, so if you want to be part of the fourth industrial revolution, read on!

How does the blockchain benefit your company?

  1. Payments and transfers of money

The blockchain technology is responsible for making money transfers directly and safely to any person in the world in a matter of seconds and at very low rates. This is because the process does not involve intermediary banks that slow down the process.

  1. Smart contracts

 The smart contracts, or contracts intelligent, are able to run and enforced by themselves automatically and without mediators. These contracts work under a code that provides them with the relevant clauses and limitations. And above all avoid the interpretation to not be verbal or written.

  1. Cloud security

The blocks of this technology work as a kind of digital democracy, since you can not get information from a block without 51% of the other blocks agree. Offering a decentralized solution of storage in the cloud, where trust is strengthened by not having to store everything in one place, which reduces the chances of a security or privacy problem occurring.

  1. Transparency

The biggest advantage offered by blockchain technology to your company is the creation of a totally transparent business system. What will improve communication with both your employees and your customers, since they always leave traces of all transactions made.

Post Author: Traff Lead