This is going to be a bold statement: It’s time for your business to start embracing blockchain, the biggest game-changer in technology since the internet.
Blockchain, to those unfamiliar with the concept, is a hyperledger. This technology makes it possible for users to enjoy a transparent and distributed digital record of transactions while doing away with the need for a central database. By decentralizing data storage and enabling distribution of digital records, this technology provides transparency and allows users to transact with one another without needing a third party. With blockchain, everyone can manage their own data — from money to personal information.
Making data transparent, accessible and incorruptible can go a long way. Imagine what will happen when the average person has complete control over how their data is managed — there would be no need for third parties, which will drastically lower transaction costs, reduce waiting times and ultimately make services more accessible to people from all walks of life. This technology is about to change every industry’s practices, and early adopters will be sure winners.