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What Blockchain means for Your Business?

Blockchain Technology has gained immense media space. It is certainly one of the most important innovations of last century. Well, it is not just meant for a smooth financial transaction, it is has a lot of potentials to support different industries. Here, we are talking about some basics which all businesses need to know about blockchain technology.<br><br>

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What Blockchain means for Your Business?

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  1. visit :www.sphinx-solution.com Call :+91-020-26434646 What Blockchain means for YourBusiness? Blockchain Technology has gained immense media space. It is certainly one of the most important innovations of last century. Well, it is not just meant for a smooth financial transaction,itis hasalotofpotentialstosupportdifferentindustries.Here,wearetalking about some basics which all businesses need toknow about blockchain technology. What is a BlockchainTechnology? In simple words, Blockchain technologyis an incorruptible digital ledger which can be programmedtorecordnotjustfinancialtransactionsbuteveryvirtualvaluabledocument. Blockchain’s journey is remarkable. In last two years, it has successfully built trust with accountability and transparency. And it is slowly evolving as the next generation’stransaction system. The concept of ‘smart contracts’ is renewing the business and transaction models as well.

  2. Major blockchain benefits forbusiness: • Transparency: As blockchain technology is a distributed digital ledger, every transaction is documented publicly. It allows everyone in the network to verify correct system working. • Integrity: In a blockchain, any business can register and approve everything in a decentralized way ensuring that the data processing happens in a transparentand trustworthymanner. • Immutability: Apart from the blockchain participants, or the connected computers knownasnodes,noother(thirdparty)entitycanmake any changestothesystem. • Security: As there is no central point of data storage, chances of hacking and fraud are negligible. Additionally, the transaction happens in encrypted codes and blocks arealso protected withcodes. • Customer Centricity: Transparency in each level ofthe transaction enables higher trust level. • Intermediary: Blockchain technology doesn’t allow any thirdparty intervention and thus the transaction is direct peer-to-peer or business-to-business. This, in turn, reduces the cost of the transactionprocess. • According to the prediction by the World Economic Forum, “by 2025, 10% GDP would be storedonblockchain-relatedtechnology”.BlockchainTechnologyhasthepotentialtodrive efficiency and simplicity in differentindustries. • Businessesare geared uptoutilizethisinnovationtoitsfullest.Ifyouarelookingtoincrease the speed and accuracy of your business transaction, we can guideyou. • Sphinx Solutionis one of the leading blockchain app development company workingon cryptocurrencies and multichain app development services for differentindustries. • Hireourskilleddeveloperstodevelopcentralizedanddistributedapp foryourbusiness.

  3. USA :+1 732-947-4310 | UK : +964 07717777 916 | Malaysia:+6017-2126274 IRAQ : +964 0771 7777 916 | BRAZIL : +55 21 2258-7260 | INDIA :+91-020-26434646 https://www.sphinx-solution.com Copyright© 2018 Sphinx Solutions Pvt Ltd. All rightsreserved.

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