‘Blockchain represents the second era of the
internet.’ – Don Tapscott
Don Tapscott from Blockchain Research Institute
predicted that with blockchain technologies introduction it brings major
disruption in all sectors, especially in the finance and banking sector.
Blockchain is essentially an immutable distributed ledger
that stores information on blocks and is connected to each with crypto hashes
thereby forming a chain of blocks. These blocks are visible to all but the
changes made can be made by only the authorized in the network. This promotes
trust amongst the users and brings transparency to the process. Any changes
made to these blocks are recorded unto new one and linked to its previous
iteration and the user who made the changes are also recorded so in case of a
problem it can be traced back to source easily. All of your cryptocurrencies,
crypto wallets and crypto exchange are based on blockchain technology. However,
the applications aren’t limited here. Anything that deals with data can benefit
from blockchain technology.
How can you have a custom blockchain application? To build
one blockchain application you need to be familiar with C++, or else the option
is to outsource your development to companies that offer Custom Blockchain
development services such as W3villa technologies that also provide blockchain
consultation services in the case you advisor with your blockchain development
project.
Let’s take a look at the application of blockchain
technology in different fields:
Accounting: Accounting is one field that requires a lot of
transparency in the process or it’s working. Apart from transparent, it has to
manage a huge number of records accurately to avoid any issue and doesn’t leave
any room for error. This with the security of these records is an absolute
necessity that blockchain offers.
Human Resource: Using blockchain human resources can greatly
benefit from the accuracy of the records. They can easily do background
research on the history of the candidate and verify the information given by
the same.
Logistics: Logistics and shipping involve a lot of paperwork
in maintaining shipping records and tracking the ongoing shipments. With huge
loads of paperwork to be done makes the entire process slow and inefficient.
Governance: As of a lot of government processes have a lot
of red tapisim invloved. Even sometimes the most essential function of voting
is tampered with. Blockchain here can offer security and make the entire
process more transparent to the public and reduce red tapisim.
Energy supply: Here the major benefits will be provided to
consumers as often they find the energy bills quite high. with blockchain, the
billing and energy consumption data can be clear and offer justifiable bills.
These are few industries where blockchain can help bringing
in transparency and security to the processes. If planning to have a
blockchain-related project you avail blockchain consulting services to gain
clarity on the project working and then proceed for custom blockchain
development.
W3villa technologies is one of the prime blockchain
development company based out of San Diego, CA that offer a host of Custom blockchain development services such as Cryptocurrency development services ,
Cryptocurrency exchange development service and others. We also offer different
hiring models for our experienced team of blockchain developers to choose from
to fit your requirements and budget.
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