in

Real-Life Application of Blockchains in Business

Transcript

0:00
Hello, guys!
0:01
Welcome back to All About Apps series from Cleveroad Studio.
0:04
Today, we’ll finally find out when and how we can apply Blockchain technology in small
0:09
and medium businesses and what Blockchain business ideas we can use
0:14
There are so many myths about this technology that only a handful of people are brave enough
0:21
to start working with it.
0:22
I think it’s time to get over all of them.
0:26
Myth 1 There is only one Blockchain
0:29
Not true!
0:30
There are many of them, each has its own differences due to the purpose it has to serve.
0:36
So you can choose the system which will suit your business the most.
0:41
Myth 2 Blockchains are absolutely secure There is no 100% secure system in the world.
0:48
But the fact of hacking will be recorded and wouldn’t go unnoticed.
0:52
Myth 3 Blockchain is open for everyone Blockchain is an open database where all members
0:58
have access But access can only be given to the stakeholders.
1:03
Moreover, a private blockchain can be built on top of a public blockchain, providing access
1:09
only to those users who need it.
1:12
Myth 4 Blockchains are only used by criminals Anyone can use it for good or for bad, but
1:18
Blockchain records all actions and no one can delete this data.
1:23
Any transaction can be tracked back.
1:25
Myth 5 Blockchains cannot be used for business In plain English, Blockchains were created
1:31
to protect blocks of data, verify information and record all actions.
1:36
From this point of view, Blockchain is an irreplaceable technology for any sphere with
1:42
sensitive data All these myths prevent us from believing
1:45
that Blockchain is not only a trend, it is the way we all are going to do business in
1:51
the nearest future.
1:53
And the sooner we understand that the better position we can get with our businesses.
1:57
Watch our previous video about the Blockchains and its advantages for your business and don’t
2:02
forget to subscribe to our blog!
2:04
Now, let’s get back to the topic and figure out what real-life blockchain technology applications
2:10
we can take advantage of.
2:12
For instance, we can use Blockchains for #1 Payments
2:15
Using Blockchain to make money transaction you exclude banks from this chain and their
2:20
fees as well.
2:22
Which means you send your money directly to a person you need to without any intermediaries
2:27
#2.
2:28
You can also apply Blockchain as Smart contracts
2:31
The platform excludes the possibility of delays, suppression or any outside influence.
2:38
It provides comprehensive financial security, monitors the terms of the contract and is
2:44
unbreakable.
2:45
Application #3.
2:46
Distributed storage in the cloud
2:48
The platform helps store more data using the same amount of hardware and saves a tidy sum
2:55
at the same time.
2:56
So in case your business operates big data, blockchain is a great opportunity to cut down
3:02
your expenses.
3:03
#4.
3:04
Digital Identity
3:06
With this system, it is much easier to track and monitor digital identities.
3:11
And the best thing it does is identity authentication, where blockchains are needed to secure the
3:17
whole procedure.
3:18
#5.
3:19
Notary
3:20
To certify a document in Europe, you’ll have to pay more than 200 euros.
3:25
With the blockchain platform, you’ll spend 0.2 euros.
3:28
And if you deal with such certificates, this blockchain business idea will help you stay
3:35
afloat.
3:36
#6.
3:37
Gifts and discounts Various loyalty programs help you engage customers
3:41
and show them your care.
3:43
And, again, blockchains can help us avoid different types of scams and create unique
3:48
certificates which would be easy to verify.
3:51
#7.
3:52
IoT systems
3:53
IoT devices collect megatonnes of data.
3:57
All this information needs to be processed and stored.
4:01
Blockchains fit these criteria the best.
4:04
#8.
4:05
Chain of supply Usual software that manages supply chains
4:09
is very fragile and in a case of a crash, you have all chances to go bankrupt.
4:15
Blockchains records everything that happens which means even in case of a failure or crack,
4:20
you can always find out what happened and rehabilitate the system.
4:25
Every day we see new Blockchain business opportunities and how many blockchain startups are appearing
4:30
all over the globe.
4:31
It all proves that this system is a bridge to the future.
4:36
The full version of our article you will find right here, in our blog, don’t forget to
4:43
subscribe to it and be the first to get our fresh articles.
4:47
This is it for today, see you next time.
4:49
Bye

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Naming a Business – Ideas and Tips for Choosing Names

How to find Multi-Million dollar business ideas