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5 Ways Blockchain Technology Can Benefit Your Business

According to Gartner and Dimension Data, Blockchain will transform the upcoming digital world and IT to the new levels. Though it has already become popular as a technology behind Bitcoin, now it is growing massively to potentially benefit the development and security of people globally.<br><br>

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5 Ways Blockchain Technology Can Benefit Your Business

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  1. 5 Ways Blockchain Technology Can Benefit Your Business

  2. Introduction DISTRIBUTED LEDGER TECHNOLOGY DECENTRALIZE SENSITIVE INFORMATION Blockchain technology, also known as Distributed Ledger Technology (DLT), is stretching beyond the Fintech boundaries. It has become a source to decentralize sensitive information — and benefit the world in many ways. IT tycoons including Microsoft, Maersk, Kodak, Visa, Walmart, IBM, Nasdaq, Foxconn, and JPMorgan Chase have all began practicing and experimenting the technology. 2

  3. Blockchain has the potential to re-engineer cybersecurity completely, but the industry has yet to come to terms with it. “ Ettienne Reinecke, CTO Dimension Group of Data Blockchain can prove beneficial to secure digital transformation from further cyber breaches. 3

  4. Cost Cutting 1 Blockchain will provide cost-cutting business models for various business including banking and financial sectors. Financial Information It will cut down organizational costs by pre-recording the financial information. Automating Information It will reduce annual customer expenditure by automating information. Error Free Accuracy Data stored this way will be more accurate and error-free due to less human involvement.

  5. MAXIMUM TRACEABILITY & COVERAGE 2 Blockchain offers traceability and complete coverage of every unit associated with a product. Long run Progress It provides a gateway for the stakeholders to trace the progress in the long run. No Data Tampering Blockchain decreases the chances of data tampering, loss, and theft to nearly 0%.

  6. IMPROVED CUSTOMER EXPERIENCE 3 Blockchain offers improved customer experience for everyone. Customer Satisfaction This ways the customer satisfaction increases which heightens the product’s demand and the user engagement in return. Loyalty Schemes for Customers It allows stakeholders to design and enable loyalty and reward schemes to speed up and value the purchase made by the customer.

  7. DIGITAL IDENTITY 4 Blockchain offers improved digital identity system for everyone. DLT Based Identities For Refugees United Nations is in process to cultivate DLT-based identities for refugees and other people with no background or life records. Credentials Security Blockchain secures your credentials (passport, utility bills, or driving license details) in a loop which saves you from a lot of hassle.

  8. IMPROVING CYBERSECURITY 5 Blockchain offers improved cyber security system for everyone. Mission Data Security Even the US military is planning to benefit from the Blockchain mammoth to prevent form hacks, data tampering, and transport hijacking while on mission. Data Security Blockchain technology and its node system can secure the future from any data breach similar to that happened to HBO, Equifax, and Instagram.

  9. Conclusion These benefits listed here are but a few from a huge list of benefits Blockchain provides. Right now, we are just in the preliminary stages of recognizing its Worth and adopting it to its potential. 9

  10. About Kualitatem Kualitatem is an agile, business-focused global technology consultants offering independent software quality assurance testing and information security auditing services. We are focused on leveraging emerging technologies for innovation and digital transformation in diverse industry verticals, including banking, finance and capital markets, IT, digital media industry among others. We partner with worldwide companies to help them adopt latest technology strategies faster and enable them to transform for business performance edge. u. http://www.kualitatem.com e. info@kualitatem.com p. (415) 644 5060 /company/kualitatem-inc-/ /Kualitatem /Kualitatem 10

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