Blockchain in 2020 is no longer a marketing fad. Regardless of the size and scope of your business, distributed ledger technologies - if applied right - can give you tangible business benefits. Because of that they will help stay ahead of the competition. Learn more about advantages of using blockchain in your industry.
Due to its decentralized nature, blockchain removes the need for middlemen in payment processing. It facilitates faster P2P transactions with digital currency.
Transactions can be done in minutes or seconds. On the contrary, currently settlements can take up a week. With blockchain, settlements become user-optimised. That will in result save a significant amount of time and money for all parties involved.
Blockchain is far more secure than other record keeping systems because each new transaction is encrypted and linked to the previous transaction. This immutable and incorruptible nature of this technology makes it therefore safe from falsified information and hacks.
When you use traditional, paper-heavy processes, trading anything is a time-consuming process. It is prone to human error and therefore requires third-party mediation. However, by streamlining and automating these processes transactions can be completed faster and, in result, more efficiently.
For most businesses, reducing costs is a priority. With blockchain, you don’t need as many third parties or middlemen to make guarantees. It doesn’t matter if you can trust your trading partner. Instead, you just have to trust the data.
Do you want to learn more about Billon and our enterprise DLT system? Get in touch!