Blockchain Beyond Cryptocurrencies

Blockchain is the next big innovation after the internet and has a huge potential to transform many businesses. Banks, financial services, healthcare, telecom, real estate, supply chain, and media distribution are using blockchain as a transformative technology. Companies have started to combine blockchain with other powerful technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) to create entirely new business models and revenue streams.

Redefining Business with Blockchain

Blockchain is the second generation of the internet and is making an impact on all major industries and businesses all over the world. The blockchain is an ideal fit for companies where there are monetary or information-based transactions happening. Companies dealing with data or that have too many stakeholders involved in a business process can significantly improve the performance using blockchain. Our enterprise blockchain development services can help companies improve business performance in the following ways:

Speed and Efficiency

All transactions can happen directly between the involved parties, thus increasing the speed of transactions. Blockchain applications can eliminate the need for intermediaries, therefore increasing the efficiency of the business processes.

Reliability and Trust

The transparent nature of Blockchain-built applications generates trust when the companies trade with each other. Many companies are adopting blockchain to establish trust with their clients.

Security

Most institutional companies are built on a centralized database, creating a single point of failure that is very vulnerable. If hackers breach the single system they have complete access to the company’s database. Blockchain-based platforms are extremely secure as hacking would require simultaneous access to every computer system on the network .

Cost

Blockchain removes the need for multiple parties involvement in transactions. This simplifies business processes and reduces the costs related to reconciliations and disputes.

Blockchain Solutions For Different Industries

Banking and Financial Services

Cross Border Payments

Global Remittance

P2P Payments

Trade Finance

Healthcare and Life Sciences

Health Records

Pharma Supply Chain Transparency

Data Management

Retail and CPG

Distributed Marketplace

Food Safety in Supply Chain

Inventory Tracking

Loyalty Reward Points

Manufacturing and Logistics

Inventory Visibility and Parts Provenance

Service Order Shipment

Energy Services

Cargo Assurance

Demurrage and Claims

Wholesale Energy Supply

Aero

Flight Damage Tracking

IP Management for Component Design

Blockchain for Banking and Finance

The blockchain is certainly an important technology for banks. The banking industry is experiencing a lot of innovation across many divisions and in all regions of the world. Blockchain has the potential to streamline the operations of banks and financial services. For example, it takes 20-30 days to close a private equity transaction but with blockchain, the transaction can be closed in a matter of minutes. In a quarter, that adds up to hundreds of thousands of dollars’ worth of transactions processed quickly. Blockchain helps from a regulatory standpoint, improves capital efficiency, increases speed and reduces costs significantly.

Blockchain for Banking and Finance

Blockchain is certainly an important technology for banks. The banking industry is experiencing a lot of innovation across many divisions and in all regions of the world. Blockchain has the potential to streamline the operations of banks and financial services. For example, it takes 20-30 days to close a private equity transaction but with blockchain, the transaction can be closed in a matter of minutes. In a quarter, that adds up to hundreds of thousands of dollars’ worth of transactions processed quickly. Blockchain helps from a regulatory standpoint, improves capital efficiency, increases speed and reduces costs significantly.

Blockchain for Healthcare

The healthcare industry is dependent upon trust, whether it is a patient trusting a doctor’s review or the information about the medicine that has been purchased from a pharmacy. Blockchain offers horizontal innovation for healthcare to create a better trust system. In addition, Blockchain allows real-time transactions and saves crucial time during a medical emergency. On Blockchain, patients could have a digital record of their medical history thus removing inefficiencies and pain points in the healthcare system.

Blockchain for Healthcare

The healthcare industry is dependent upon trust, whether it is a patient trusting a doctor’s review or the information about the medicine that has been purchased from a pharmacy. Blockchain offers horizontal innovation for healthcare to create a better trust system. Not only this, Blockchain can allow real-time transactions and save crucial time during a medical emergency. On Blockchain, patients could have a digital record of their medical history thus removing inefficiencies and pain points in the healthcare system.

Find out How Blockchain Technologies Can Help you