Blockchain in business

[brawdias]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

[1713495761]

1713495761

[Joel_Jantsen]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.For real life instances,you can take ripple into consideration along with a few other coins set to change the way banking works.If you're looking for something where blockchain is being implemented and a business is actively using it,you need to wait a couple of more years maybe.

[Vod]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.

Transparency and immutability.   

[Joel_Jantsen]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.

Transparency and immutability.   

Yeah that! Being a programmer the word immutability keeps haunting me in my dreams!

[intellicorepress]

For now, possible applications are any in which digital ownership or rights need to be transferred - for example, conferring the right to view my personal health dataset as a potential application in healthcare.
But to create even more powerful smart contracts, they will need to be connected to the IoT. For example: If you have a blockchain-based Airbnb equivalent, you can pay for your stay in tokens, and upon confirmation of the transaction, the smart contract will unlock the smart lock on the apartment door for you.

[hugeblack]

Blockchain can change the world not only by the flow of money but by any application based on transparency and the need for a trusted party.
Since smart contracts are a programmable part of block of codes, adding blockchain will provide greater safety and transparency.
For example, smart contracts can be integrated with the factory management program, in addition to blockchain. the result will be the product transparent verification of the quality of all products from raw material to delivery, so that the consumer can get a product without the need to trust in organizations that depend on the human element.
The role of blockchain is not limited to smart contracts, but extends from documenting files to election systems

[btcrising]

I've been running small logistics company in Europe, blockchain imo is just perfect for such purposes, when u have to trace all the long chains, sure it has great future not only in banking. It can help not.only business owners but also greatly improve customer service

[NOAHCOINOfficial]

Transparency and security of data are the most essential advantages of blockchain, I suppose.
I think this technology would be (or actually already has become) irreplaceble in finance, banking, logistics & transport.

[LCHY]

Blockchain in business?

You use blockchain technology and create one coin. Then you use it to make an ICO event and make really good profit. This is a business. Congratulation!

[jbuff]

The best way I always explain it is like so:

If you need to transfer something to someone, you have a record and they have a record of that transaction. In Blockchain, there is only 1 central record that can not be changed.

This is simple, but if you add 10+ companies to the mix as they trade, exchange, build, consume all of these records can get messed up very quickly. With one central record 'database' the world can be a much simpler place.

[TomiJerry]

Smart contracts it is automated execution of transaction without any influence of parties. For example you can agreed with partner that transaction will be executed after generation of defined block and you will have the time to ensure that goods were delivered. But transaction will be executed anyway and if you are not satisfied with goods delivery, you should go to the court, but I'm not sure that smart contract will be reviewed bu the official courts. Smartcontract it is the future, now it is not fully applicable for anything.

[formatme]

Blockchain is very useful to business, thats why peope have been investing into it.

[Stone1562]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.

Transparency and immutability.   

Yeah that! Being a programmer the word immutability keeps haunting me in my dreams!

+1

[/quote]
Yes, immutability may sound a bit nightmarish, but only in some programming contexts.  In other contexts, however, immutability is a good thing, such a smart contract, where terms are there for everyone to see and understand.  There are fewer opportunities for misunderstanding when terms are there for all to see.
[/quote]

[stomachgrowls]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Blockchain technically can be applied into every business which wants transparency in their operations.

Transparency and immutability.   

Yeah that! Being a programmer the word immutability keeps haunting me in my dreams!

The word Immutability would really haunt us even on our dreams and even myself would really agree on this fact.

Blockchain technology would really be applied sooner or later into businesses yet we do able to see on whats the advantage on having this one and as a consumer or do really concern about transparency we would see this tech to be very beneficial.

[DigitalFox]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

Anything requiring storing and distribution of data, financial/accounting, for example.

[Patatas]

I've been running small logistics company in Europe, blockchain imo is just perfect for such purposes, when u have to trace all the long chains, sure it has great future not only in banking. It can help not.only business owners but also greatly improve customer service

This one is a really good example of the blockchain usage in the other sectors.
 - In this scenario,blockchain can be used to make the logistics transparent to the end parties thereby avoiding the credibility issues one has during the transfers. 
 - The entire system can be visible to public with latest deliveries as a new transaction added to the block and that would contain the status of the deliverable.

[Baoo]

In general, the era of blockchain  has changed everything for  the better  and this technology is very helpful to facilitate the success of projects, that's why many capitalists use blockchain in their business, Furthermore,  the most characteristic to this technology is the smart contracts which have become of great importance in many fields. Plus , It has also become essential in facilitating and improving the  financial transactions, it is certain that over time, the success of Blockchain technology will continue and spread in many fields.

[NOAHCOINOfficial]

Also such giants like IBM are implementing blockchain in the projects they work with - in logistics, healthcare, finance.
You can google how they actually use it and for what reasons

[Souri]

I don't understand how blockchain could be applied into business. Anyone has a real life example of the advantage of a smart contract?

There is a public available presentation out there where IBM is showing of all their flagship projects and stuff they are doing with their hyperledger. You might want to check it out.

[Felicity no.1]

Businesses are moving their data from on-premise servers to cloud. And second, as the block- chain assets’ market like crypto-currencies is getting traction, the business decision makers are planning to diversify their assets and invest in the crypto-currencies. The commercial security products and crypto-currency wallets available in the market today, rely on encryption-based security using a single private key that is stored either on a local computer or an external cloud server. If the key is lost, stolen or hacked, the digital asset is lost. This creates the need for an enterprise class solution that provides a more robust and unified security solution not only for the digital assets like documents, files, emails etc. but also for the crypto-currency assets stored in the cloud.

Security breaches in external cloud servers, internal and external intrusions and hacking by individuals and foreign governments poses a critical threat to the enterprise data stored on commercial cloud servers.

The security of the cloud server is managed by the cloud service providers and the companies have little control over the security of their data and no significant legal remedies if their data or crypto currency assets are compromised on the cloud server.