Blockchain Usage By Businesses

[Content4Develop]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

[Ifra24]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

I think yes. Blockchain tecnology give benefit

1. Transparent and immutability. Public blockchains can be seen openly by all parties who create transparency, and all transactions that cannot change.
2. Faster transactions. Interbank transactions can potentially take up to several days for clearing and final settlement, especially outside working hours.
    However, Blockchain transactions can reduce transaction time in minutes and are processed 24/7.
3. Lower transaction costs. By eliminating third party intermediaries and overhead costs for exchanging assets, the blockchain has the potential to reduce
    transaction costs.

There are many benefits, and blockchain is an open technology. If there are weaknesses can be fixed.

[Wenbing]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

Well, I don't really understand what you mean by production process. Is it production process of a bitcoin production or production process of business production?

The second part of your enquiry.
It will help to scale sales of the ecommerce industry because transaction is now faster and the cost is very low.

[katiepower]

Blockchain technologies save quite a lot of money for business, many have already begun to understand this

[Natalim]

Using blockchain has its advantage, but one should be educated enough to use blockchain properly, and the fact that the adoption rate is still low until now, I think we need more time for people to truly believe on blockchain.

As we can see, there's a lot of project in the crypto space but most of them failed, reason is because people are not ready to embrace yet.
In terms of business, that still depend on the nature of the business, but using blockchain could really help to ease the business operation IMO.

[verita1]

Agree. Many projects have indeed failed due to the lack of education of the people. However, the search for maximum adoption continues, with the development of platforms and Apps that offer convenient and easy-to-use services.

[Jating]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

Depends on what business are you describing here. There could be mid-tier businesses and companies that doesn't need blockchain per se, perhaps their good old and legacy systems are enough to capture the data, translate it to a business process to improve their production. I think in the last two years or so, everyone really thinks that blockchain is the solution to everything, but voting process to companies who even understand the concept of blockchain or how it can help them.

So for me, I would say not all business are geared toward having a blockchain technology, maybe just a simple database will be suffice. But a companies that processes large set of data, let says a supply chain company, then I did blockchain will help them a lot to streamline everything and of course that business decisions base on the data can spell success or failure of a company.

[arayde]

Actually, blockchain is helpful for buisness but not for every industry. Nice variant for shipments and some other spheres but sometimes sql fine too

[Sanugarid]

Well it really depends on the business if they can afford to use the blockchain, the price I'm talking about is not the blockchain itself, if the company or the business has nothing to do with computer systems, like they are store of garments for example it is really needed to have a person that has the degree of doing such thing as blockchain and other system for the whole scheme, so it will more likely to be a group of people added in your business and that is the price of having the blockchain. There is literally an advantage of having blockchain in many ways, blockchain can be applied on many field of experties.

[XCANA]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

Without iota of doubt 2019 to 2020 has been the very best year for business starters be introduced into the world of Blockchain technology for the purpose of having a free platform which maximize their profits in the process. We'll know what  Blockchain technology brings on the table of businesses. They ranging from: Transparency, Accountability and unaltered business data. Possibly, the next phase of Blockchain technology is the integration of businesses into the use of Blockchain technology to drive their production and services to the masses.

[Exolix]

https://101blockchains.com/companies-using-blockchain-technology/
most of the companies described in the article are large and well-known corporations. And the fact that they use blockchain may well indicate the successful introduction of technology into their business processes.

[joinfree]

Businesses involved with series of transactions can leverage on the decentralized feature of blockchain technology to cut down the number of transactions. This would go a long way to reduce the cost of transaction fees as well. The time upon deliveries would also be very swift as compared to before hence increasing productivity in general.

[nutoskaleo]

I think we all go towards the blockchain era. Really, you should understand that the core banks of the world know a thing. They implement blockchain not for a joke. So business which implement blockchain first just is going to win in a long run, I guess.

[tabas]

What production are you implying with your example? Blockchain is actually useful to the specific industries and businesses that it really needs. But if they are just using for the sake of it being blockchain without knowing the real use of it, I don't think it counts.

[PavelMed]

Yes it’s true, this technology allows you to store important information in large volumes, provides good protection, which gives very good advantages .

[Gozie51]

You are quite on the lane with the benefit of blockchain. In terms of data protection and security. I believe as time will go on, we are going to see more growth in blockchain usage by businesses.

[posi]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

Blockchain is an outstanding and future promising technology not to crypto or business alone but also to humankind because it can be used for the betterment of every realm of operations and these are the primary part that makes some governments to support crypto scheme.

[posi]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

Blockchain is an outstanding and future promising technology not to crypto or business alone but also to humankind because it can be used for the betterment of every realm of operations and these are the primary part that makes some governments to support crypto scheme.

[Bitcoinislife09]

Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?

I think yes. Blockchain tecnology give benefit

1. Transparent and immutability. Public blockchains can be seen openly by all parties who create transparency, and all transactions that cannot change.
2. Faster transactions. Interbank transactions can potentially take up to several days for clearing and final settlement, especially outside working hours.
    However, Blockchain transactions can reduce transaction time in minutes and are processed 24/7.
3. Lower transaction costs. By eliminating third party intermediaries and overhead costs for exchanging assets, the blockchain has the potential to reduce
    transaction costs.

There are many benefits, and blockchain is an open technology. If there are weaknesses can be fixed.

Blockchain technology really helps so many businesses in making business together. tThrough bitcoins buyers have completed their payments without accessing any sensitive financial information to the seller.
With this, they are enjoying a certain degree of financial privacy that is most neglected by many credit card offers. Production processes through blockchain technology has been easier and faster to many people.

[coupable]

https://101blockchains.com/companies-using-blockchain-technology/
most of the companies described in the article are large and well-known corporations. And the fact that they use blockchain may well indicate the successful introduction of technology into their business processes.

There is no official affirmation from those big companies that they are using blockchain for any purpose. I can mention Siemens and Visa Card, whom made a little search about but found nothing about them using blockchain.
Generally, a centralised company is not in real need for such a decentralised public technology. Although, blockchain technology is the brand of nowadays, so i expect many/more company declare that they would use it when there is no way to verify this.
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