While people debate the benefits & pitfalls of cryptocurrency. • The blockchain technology that underlies these currencies is taking the main stage. • That's understandable, as blockchain is a must-have in and of itself for creating competitive advantage.
Several Industries are Realizing its Potential & Implementation of This Technology Fund Administration. Information Services. Real estate. Banking. Escrow.
Fund Administration • Fund administrator is an outsourced third party service provider that protects the interests of investors by independently verifying the assets and valuation of the fund. • By outsourcing the fund administration function, fund managers are allowed the freedom to focus on portfolio management internally.
Information Services • The Internet is a necessity we heavily rely on these days. Shopping, travel plans, banking, business, and much more is preferred through the internet. • All the top organization around the globe have an online presence. • With the help of blockchain, the problem of load speeds can be reduced to a point of extinction.
Real estate • Real estate dealings involve many individuals including buyers, sellers, agents, and brokers. • The process of acquiring properties, contracts, agreements, title, and escrow is slow and tedious. • Blockchain can reduce that risk and increase trust in a number of ways. • Home purchases, most people rely on title companies to verify real estate transactions and ownership.
Banking • Banks can benefit the most from blockchain. From the banking perspective, other banks, accounts, insurances, and exchanges can be accessed via a single platform. • Users will also have all their sensitive transactions ran through a secure decentralized system which is more user-friendly.
Escrow • Blockchain can entirely eliminate slow escrow transactions. • Escrow is a slow process with intermediaries involved and things take time to happen because of the third party involved. • Blockchain can also make escrow a thing of the past, not just for real estate, but for all industries that work with any kind of escrow middleman.
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