High-performance blockchain. Blockchain wallet. Blockchain technology. Peruse Google Trends for the term ‘blockchain’ and you will find a host of online searches for all things blockchain-related. Interest in blockchain continues to flourish, with everyone from angel investors to small business owners and startups interested in capitalizing on blockchain technology.
It’s Not Just a Marketing Buzzword
If you’re thinking blockchain is just a marketing buzzword dreamed up by techies and cryptocurrency enthusiasts, you couldn’t be more wrong. When used correctly, blockchain has real-world use cases that provide solutions not seen in any other technology. From mobile payments, supply chain management, and shipping to border control, land registry, and energy distribution, blockchain technology is being utilized in an exciting number of ways.
Real Change Powered by Real Trust
Blockchain technology is offering real change for everything from global industries to communication methods. Thanks to its transparency, increased trust, and decreased reliance on third-parties, blockchain technology is being used to store business data, authenticate images/videos, and even decrease insurance costs. Because a blockchain distributed ledger is very difficult to corrupt, greater trust is achieved in decentralized data. In order to change the data on the ledger, everyone on the distributed ledger would have to agree to the data change (not going to happen!).
Database Decentralization
Most businesses today have centralized information archives. This means that someone has control over all details stored within a company’s data records. With blockchain technology, businesses have a way to decentralize their information storage. This decentralization means no single person or entity has control over the records stored within a data directory. A decentralized database has numerous business benefits including increased efficiency, significantly improved data security, business process optimization, and potentially reduced costs.
Blockchain as a Logistics Business Benefit
Using blockchain technology to improve a company’s logistics strategy can have a profound impact on overall performance. A distributed ledger offers precise tracking of packages, delivery personnel, and even consumer interactions with delivery personnel. Cryptographic ledger technology makes it easier for businesses to keep track of where their shipments are going and who is involved in each step of the shipping process.
Bonus Business Benefits
In addition to logistics and data decentralization benefits, blockchain offers a number of bonus benefits. Companies using blockchain technology can develop stronger relationships with consumers and suppliers thanks to increased trust. They can enjoy increased collaboration with business partners in a decentralized data environment. Fraudulent transactions can be minimized. Smart contracts allow companies to develop deeper peer-to-peer relationships with those in their business network. Factors as basic as business accounting can be improved thanks to proof-of-identity and supply chain controls.
Blockchain Technology is the Future of Sound Business Development
Serve is building the future of business infrastructure via blockchain technology. The Serve Platform will include everything from a blockchain SDK and enterprise software to white label marketplaces and smart contracts. For businesses wanting a sneak peek into the future of sound business development, we invite you to dive into Serve’s detailed <a href="www.serve.io/wp.html>white paper. We think you’ll be as excited about the business benefits of blockchain technology as we are.