Newsletter subscribe

Finance

Blockchain Technologies and Applications for Business

Posted: August 15, 2019 at 9:45 am   /   by   /   comments (0)

Ever since cryptocurrency has been created and introduced to the market, it has changed the traditional currency transaction that we have for a very long period of time. Today, we can now do transactions and trade currencies through a block chain of algorithm. Moreover, cryptocurrencies are not being regulated by the central bank of the government. Thus, it has paved the way to encourage more people to participate and use cryptocurrencies. Even the industry of businesses has also entered the world of cryptocurrencies. And to aid them in doing their transactions, the are using blockchain technologies and applications for business.

SMART CONTRACTS

Technically speaking, this type of program is self-automated PC software that have the ability to carry out any contract’s terms. With this technology application, businesses has the ability to bypass some regulations and reduce the expense for a subset of the mainly used financial transactions.

CLOUD STORAGE

Another application for business that provides great advantage to companies is Cloud Storage. This platform also helps businesses to perform cryptocurrency transacytion. Hence, they will be able to reduce cost and save huge amount of money. They can also get to be free from tax.

ELECTRONIC VOTING

Through electronic voting such as BitShares, DPOS or delegated proof of stake can be faster, most decentralized, most efficient and most flexible consensus model available. Again, it will be able to help businesses to perform transactions and reduce cost.

PAYING EMPLOYEES

The good thing is, even the way of payroll to employees is now starting to transform into a cryptocurrency way. There are several applications and technology companies who are now trying to formulate new tools that could be used in paying employees. If you are an employee, you’ll certainly learn how to trade bitcoin using this tool to be introduced to the market.