Blockchain and How it can Help your Business Grow

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One way or another, we all heard about “blockchain technology”. Chances however, is you most likely associated blockchain with cryptocurrencies. But, let me tell you how that is onlya tip of the iceberg.

Blockchain technology is not limited to cryptocurrencies. It can be used with any type of digital data. It is used by businesses worldwide as a cutting-edge advantage in growing their business. In simple terms, blockchain is a very large spreadsheet. Just like a spreadsheet, any new entry updates every copy in the blockchain but unlike a spreadsheet, every entry has a timestamp. But, we’re not interested into timestamps, are we? Data security is very crucial in the growth of every business. Well, blockchain iscryptographically secured. This makes data breaches extremely difficult!

As such, for small and large businesses alike, blockchain technology offers many advantages which makes blockchain a must-have for your business. It can enable smart devices to self-govern and autonomously conduct a variety of transactions. In other words, with blockchain—everything is automatic!

Regardless, the key to blockchain is its proper use. So, if you’re not sure how to use blockchain technology, we listed some ways to which you could use blockchain in your business:

Smart contracts. Blockchain-based apps can monitor and execute contracts. Once a contract is made through the blockchain app and delivery is confirmed, you immediately receive the customer’s payment.

Shipments Tracker. With a blockchain app like Modum, deliveries are tracked real-time without any paperwork!

Cloud Storage.Blockchain apps like Storj, encrypts and secures every document storedwith a special access key.

Ultimately, blockchain streamlines every business dealings and transactions. This saves businesses both the time and money. With resources being scarce, blockchain is no longer an accessory. It isa must for your business.

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