The advancement in technology helps businesses to grow without even doing high investments. To increase your business productivity, it is essential to adopt Blockchain technology as the ultimate technology.
In older times, making international or local transactions was complex and unrealaible.
The banking channels were the only reliable source to transfer payment. The issues get resolved with the introduction of blockchain technology.
The cryptocurrencies including the bitcoins rapidly becomes the industry standard. From the E-stores to paying salaries, blockchain technology becomes an ideal choice. The scope of blockchain is beyond of just coin exchange. It is based on the principles of reliability, decentralization, accessibility and security that makes it the best application worldwide.
As a business owner, you always need cheap investment and high profits. From choosing the cheap web hosting in Pakistan to transfer of money to the clients, you seek for the low investment & charges.
This article will give a brief explanation of how blockchain can increase your business productivity.
1-) Increase Visibility of Supply Chain:
Supply chain ensures the brand mobility that is based on different fundamental series of transactions. From the production to the final deployment, blockchain makes the whole process visible and effective. The supply chain evolves with interconnected networks and partners. The facility to see the operational asset movements and products is a great benefit to a logistic provider. Blockchain enables you to locate, record brand rates, quality certification and other information that is relevant to the supply chain. This brings more visibility and is more effective than the traditional supply chain.
2-) Get Rid of Third-party:
Before the blockchain technology, brands were dependent on middle man, third-party personnel, websites, platforms and agencies to distribute the target messages to the customers. It enables brands to get across with the customers with intended branding and solid message. A customer can easily interact with your brand and get updated with the latest ads that are directly relevant to his needs. The risk of wasting marketing resources on customers with different interest get completely resolves. You will be able to know what are the customer needs on which you can plan your marketing strategy.
3-) Provides Transparency & Tractability:
Blockchain gives complete transparency and tractability facility to the users. You can detect your assets in given time and know where it lies, what’s the condition and under whose possession it is, working as a digital ledger. There is always a challenge for the logistics and transportation industry to protect the safety of cargoes and assets. To ensure the safety you can simply provide a new truck and tracking solution that is based on blockchain technology. This will help you to manage the transactions more effectively. The customer always gets more confident in choosing your brand once he finds the secure and unchangeable log in the delivery.
4-) Enhancement in The Data Quality:
The highly decentralized way of maintaining transnational data is always essential for every business. Blockchain enables you to communicate directly to your customer without compromising on the data. It also allows to share or record information in encrypted form without any data leakage. The data quality is also improved securing the users privacy. With blockchain, you can make sure that data cannot be rewritten or remove by anyone, enables smart contract deployment, and provides more secure platform to the users.
5-) Easy Payment Processing:
Blockchain gives the flexibility to the business owners and users to use multiple platforms in order to exchange goods or purchase product. Now, cryptocurrencies like lithium, bitcoin and many others can be easily used to transfer payments. The benefit is almost free transaction that a user enjoys. You don’t need to pay any fee in order to send your payments. Although, transferring the cryptocurrencies into hard cash, it requires some fee. Different payment gateways and processors fills the gap and provide easy platform to transfer cryptocurrencies.
6-) Future Technology:
The blockchain technology when first introduced were seemed to be irrelevant. But the advancement and benefits to both users and companies make it more reliable. In 2019, the majority of companies are using this technology to overcome their different issues. It is expected that in future every business will adopt this facility and boost the productivity of their businesses.