Transform your business model with Blockchain technology.

in #blockchain6 years ago

Blockchain technology is a foundation for a good number of merits in a business; this includes transparency, security, transaction speed, reduced cost of transaction. These collectively play a huge role in the success of a business when maximumly taken advantage of, a reason why blockchain is much needed in our businesses.

ss-blockchain-4IR.jpg
credit

The peer to peer network that comes with blockchain technology ensures that records of the business are consistent and transparent. Every person within the blockchain network in the business is entitled to a copy of how the business runs. Incase of a change in the records by one person, all the records of the others have to be changed meaning they have to first agree before any change is made. This makes every data in the business accurate, ensuring no possibility of fraud.

97666614-blockchain-link-sign-connection-flat-design-internet-technology-chain-icon-hyperlink-security-busine.jpg
credit

The mobile money transactions made everyday in a business are many and costly when keenly looked at. A 5% tax charge for every transaction means a large amount of money lost when a variety of transactions are processed over a given time. With blockchain technology for a transaction to be processed, a very small transaction fee is deducted and inmost cases it's not charged at all. This increases the returns of a business as money which would have been lost in transacting is saved. And on addition to the small transaction fee, the transaction process takes little time as they are very fast. This saves time and makes the business efficient.

blockchain-kJoD--621x414@LiveMint.jpg
credit

Transactions in blockchain technology are linked to previous transactions after approval. This makes it easy to trace items to their origin incase their authenticity is required. Whatever is done in a business is thus traceable and secure which builds confidence in a business by a customer.

Adopting blockchain technology in a business moves it a step ahead in the way it operates and makes it highly result oriented.

Sort:  

Hello! I find your post valuable for the wafrica community! Thanks for the great post! We encourage and support quality contents and projects from the West African region.
Do you have a suggestion, concern or want to appear as a guest author on WAfrica, join our discord server and discuss with a member of our curation team.
Don't forget to join us every Sunday by 20:30GMT for our Sunday WAFRO party on our discord channel. Thank you.

Coin Marketplace

STEEM 0.26
TRX 0.11
JST 0.033
BTC 64961.60
ETH 3103.64
USDT 1.00
SBD 3.86