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Author Topic: What is the usefulness of blockchain for a typical company?  (Read 91 times)
YoMoyo
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January 20, 2018, 05:27:16 PM
 #1

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.

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January 20, 2018, 06:02:09 PM
 #2

You are not right. Blockchain technology can be applied in various fields. If you have a small office then maybe you don't need it but in the future you will use this technology to work with larger companies. This technology will be used for the exchange of payments and information.

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valta4065
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January 20, 2018, 06:08:07 PM
 #3

Damn man! You don't understand how powerful the blockchain can be for any company? ^^

To put it simple: blockchain you can manage informations in a guaranteed way. A simple example:
-You're an insurance company, you can put a contract on the blockchain. The client will put its payments and when they have to get repaid. And nothing can be missed or cheated on...
-You sell any service, going through the blockchain means nothing to be proved
-You need informations of the client, you put everything on the blockchain and nothign can be lost

It's powerful tool ^^

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January 20, 2018, 06:19:54 PM
 #4

Blockchain can not be useless as long as bitcoin transactions is concern you need blockchain to be able to carry out transactions.

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January 20, 2018, 06:55:01 PM
 #5

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

One Picture Worth Ten Thousand Words


But if you prefer reading , there is one interesting research:
https://eprint.iacr.org/2017/375.pdf


To put it simple: blockchain you can manage informations in a guaranteed way. A simple example:
-You're an insurance company, you can put a contract on the blockchain. The client will put its payments and when they have to get repaid. And nothing can be missed or cheated on...

And with the current system what can be missed or cheated?
Would that mean every customer will have to run it's own node? Really?

-You sell any service, going through the blockchain means nothing to be proved

I think your phrase needs something to be typed

-You need informations of the client, you put everything on the blockchain and nothign can be lost

Why would a database not be able to do the same trick?
And that by doing this you basically hand over your info to everybody.

People have started treating the blockchain like the Holy Grail, but unfortunately it's not.
And the real applications are limited.


Blockchain can be adopt even in  supremarkets, restaurant, school and other companies

Why would a restaurant need a blockchain?

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January 20, 2018, 07:05:36 PM
 #6

Blockchain can be adopt even in  supremarkets, restaurant, school and other companies actually everything can use it we just have to established proper knowledge about blockchain and how it will work and help us it is just that governments did not give their full support over cryptos yet thats why adaption and implementation is quite difficult to implement for now but the idea of blockchain can really help the economy and all other industry.

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January 20, 2018, 07:12:56 PM
 #7

Transparency.

For a market right now like bonds, which is something which doesn't have much of a centralized exchange (for buying and selling) the blockchain showing transparency of how much these bonds are costing, how much some these companies are charging in fees (the bond brokers /dealers), and the information about the bonds itself.

While my example isn't for a typical company, it is something that would revolutionize an INDUSTRY. With many companies being bound to change if this is what the people wanted and the companies deemed as a good idea to change a broken system.


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January 20, 2018, 07:19:42 PM
 #8

Blockchain has so many uses. It can act as a distributed database.



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January 21, 2018, 05:18:57 PM
 #9

Blockchain is simply a collection of public records and so it's possible to find a use for it in some businesses. I mean, the inhabitants of Yap island used a primitive version which they use to buy and sell houses and other stuff.

Of course, whether it's possible for a business to use would depend on what their business is about. It would be not of much use to the customer end of a grocery chain (store or online) for example but they might adapt it to managing their inventory across branches and warehouses. In this case it would not be about transparency but so that everyone in the chain knows where something is.

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.


You must be mistaking blockchain for bitcoins. Bitcoin is just another product that uses blockchain technology, which in itself is not illegal in any country.
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January 21, 2018, 05:23:23 PM
 #10

It would not surprise me if each compani creates it's own cryptocurrency. Nowadays, almost everything has a blockchain or just a token in order to say that you are creating "decentralized" things, while you are just doing it for money, lmao.
I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?
I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.

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January 21, 2018, 07:36:10 PM
 #11

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.


The biggest advantage of the blockchain for a company is that it cannot be tampered you could see all the records that have ever been made in your private blockchain, that is huge since it could avoid frauds and scams, but I'm not an expert on the subject so there may be more applications than that.
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January 21, 2018, 07:56:52 PM
 #12

Blockchain is for better security at the same time open source and for an office, employees cannot manipulate the data if they use Blockchain, so that's an advantage here. And if you're using blockchain the whole world will be able to see it, so companies cannot show fake random data, the whole world will against then. Legality issues will arise but if you're doing something for  a good cause  it won't be a problem then.


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January 21, 2018, 08:55:50 PM
 #13

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.



A company is part of the global ecosystem. Not all companies create their own credit card but they use credit cards.  Companies use products they don't develop and are customers of companies that do use these technologies.

Now tell me. Is being able to prove that you paid a bill or did "x" on a particular day important to companies?

In case you're not sure the answer is "Yes, it's important."+
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January 21, 2018, 10:20:32 PM
 #14

It has a lot to do with our business, especially those transactions by making check, wiring we could also add to that is the use of virtual currency as a mode of electronic transaction. We could also use it as our insurance security, instead of putting our money in a bank we could also use blockchain to store our hard earned money since blockchain ledger reduces error by encrypting the records  at the same time ledger simplifies the process.


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Dreamchaser21
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January 21, 2018, 10:38:00 PM
 #15

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.



Blockchain technology is pretty amazing and it can help any businesses specially in a big company. Blockchain technology works for so many ways like data base and you will see easily every details of a transaction.

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January 21, 2018, 10:51:11 PM
 #16

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.


Maybe you need a little more help on researching up things on google for you to be able to know on how useful it is. Blockchain is indeed a great technology which would really I do believe that it would even more progress and being used by big companies on next future years to come which is somehow expected to happen. This is very helpful and the fastest way on transferring data's without the need of manual workforce.It would give convenience and faster accessibility into things.


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in
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January 22, 2018, 01:26:30 AM
 #17

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.



Blockchains appear to have some advantages. They're better than backend databases at protecting data integrity. Data contained inside SQL tables can be edited on compromised systems. By contrast, its much more difficult to edit or change data contained inside a blockchain. In some industries like legalized marijuana, there can be a need for a ledger and shipping system where data is difficult to edit to prevent theft and provide a reliable data trail.

Blockchains being a "trust-less" system, they might also reduce the number of middle men across supply and distribution networks, in terms of cutting the number of "trust" employees in the overall equation. With banks and banking, there need to be employees to enable the "trust based" system. In eliminating "trust" blockchains could reduce the amount of manpower required to achieve equivalent tasks.

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February 15, 2018, 08:37:50 AM
 #18

The advantage of blockchain is blockcain that can serve financial transactions indefinitely. In addition, blockchain has transaction costs that tend to be low when compared with conventional currency rates. this can help the business world to improve financial efficiency.
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February 15, 2018, 08:51:07 AM
 #19

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

One Picture Worth Ten Thousand Words


But if you prefer reading , there is one interesting research:
https://eprint.iacr.org/2017/375.pdf


To put it simple: blockchain you can manage informations in a guaranteed way. A simple example:
-You're an insurance company, you can put a contract on the blockchain. The client will put its payments and when they have to get repaid. And nothing can be missed or cheated on...

And with the current system what can be missed or cheated?
Would that mean every customer will have to run it's own node? Really?

-You sell any service, going through the blockchain means nothing to be proved

I think your phrase needs something to be typed

-You need informations of the client, you put everything on the blockchain and nothign can be lost

Why would a database not be able to do the same trick?
And that by doing this you basically hand over your info to everybody.

People have started treating the blockchain like the Holy Grail, but unfortunately it's not.
And the real applications are limited.


Blockchain can be adopt even in  supremarkets, restaurant, school and other companies

Why would a restaurant need a blockchain?

This post answered all your question about blockchain.

Also why do company release stocks. Okay so you will be a part minority owner of a company. Can you trade it? Yes using exchanges. Some ICO give you an ownership of the company with their coins. Now imagine if you have a coin of a certain company and your friend have another one then you decided to trade. You can also use those coin to trade without the use of a third party.

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February 15, 2018, 09:08:09 AM
 #20

I do not understand the usefulness of the blockchain techologies for a regular company or office. Any ideas?

I think that blockchain techologies are worthless for an ordinary company until operations in it are legally confirmed by a goverment.



Blockchains appear to have some advantages. They're better than backend databases at protecting data integrity. Data contained inside SQL tables can be edited on compromised systems. By contrast, its much more difficult to edit or change data contained inside a blockchain. In some industries like legalized marijuana, there can be a need for a ledger and shipping system where data is difficult to edit to prevent theft and provide a reliable data trail.

Blockchains being a "trust-less" system, they might also reduce the number of middle men across supply and distribution networks, in terms of cutting the number of "trust" employees in the overall equation. With banks and banking, there need to be employees to enable the "trust based" system. In eliminating "trust" blockchains could reduce the amount of manpower required to achieve equivalent tasks.
[/quote
Yeah Blockchain technology  was developed to answer the need of security , treaceablity or paper trail transactions which is difficult to alter that can protect sensitve information and the versatility of transaction which is fast and economical than the usual or back end technology that we had.In other words what is the short coming of backend technology being answerd by block chain because it was design fullfill the need of the shortcoming of todays technology.

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