Application of Blockchain in Your Business

 

By the time bitcoin was introduced by Satoshi in the market, the world of cryptocurrency has its own rises and falls. The blockchain is a distributed public ledger which keeps the record for every transaction. Blockchain has emerged as a new alternative to the traditional currency system, banking and transaction methods. It is not only transforming the financial transactions, but it has also provided alternatives uses to change the ongoing financial services around the world. Blockchain holds the capability of maintaining the growing transactions over every distributed network with thousands of computers. The best part is, breaking such a system is almost impossible. Let me explain you few incredible features of blockchain in today’s business operations:

 

1). Blockchain in Marketing:

 

Traditional marketing is expected to undergo a significant interference, by revolutionising features and services. With the help of broader blockchain, it has become easier to visualise the advertising platforms. All the relevant information about audience and performance is processed and accounted with a decentralised ledger. The decentralised feature of blockchain maintains transparency and influences businesses advertising efforts on eliminating the risk factors such as fraudulent traffic etc.

 

In digital marketing, the ROI for a potential marketing campaign is just not the whole success. The essential part is the collection of useful information produced by each potential consumer every day. The incredible big data technology allows businesses to benefit from the valuable consumer insights and business intelligence. Thus, marketers can boost their advertising strategy, brand promotion, visibility and product development. These days, social media centralised majority of traffic, it ensures delivery of every message to the users. Moreover, centralisation of these data on such platforms allows them to manage the generated insights and make revenue by selling it to the potential consumers.

 

Use of blockchain technology in marketing projects leads to a serious threat to these marketing tactics. Through it, a consumer gets more control over their information and coordinate with the businesses directly. To become a part of this incredible journey, you can join the Blockchain Certification available for boosting your career growth. This course leverage the core structure and technical mechanism of cryptocurrencies, blockchain platform.

 

2). Supply Chain Management:

 

World’s economic markets are connected with the routes of global trade. It doesn’t matter whether it is sea, road or air, shipments worth billions are being taken via the one continent to another in a single day while fulfilling the demand and safety requirements. The new practices for storage and route tweaks are still created to drive the critical aspects of the economy because a huge amount of transport data is analysed every day. It merely means dealing with such a large data set can give rise to inaccuracy and many more hurdles, so its necessary to monitor each aspect of the product’s journey. The blockchain is attracting major business leaders who are dependent on the physical supply chain, bringing transparency, valuable data insights and effective price covering from the development to final delivery of the product.

 

3). Smart Contract:

 

The term smart contract is broadly used in these days, and now it is associated with the blockchain technology. A smart contract is a decentralised platform which allows a perfect contract execution without any third party interference or fraud activities, downtime. It is a self-automated computer program designed to carry out the obstacle-free contract. With powerful smart contract technology, businesses will able to skip regulations and reduce the upfront costs for common transactions.

 

4) Quality Assurance:

 

When we talk about quality assurance, blockchain is the saviour, especially when something goes wrong. Since companies can easily integrate it to every aspect of their supply chain, then they can quickly investigate for the wrong calls with the contiguous ledger. Thus, businesses can provide a safe side and efficient outcome for their user.

 

5). Distributed Cloud Storage:

 

Businesses can take huge advantage of distributed cloud storage. Blockchain provides affordable, fast and secure cloud storage platform by keeping track of every data flow through it. Blockchain eliminates the primary concerns of large organisations dealing in cloud computing. The only risk associated with cloud computing is the security of data. Thank god, blockchain is here.