Blockchain is the future; this is not an undermining statement; instead, a technology that is promising to make a significant impact in the future is right ahead of us. The Blockchain that started as the underlying technology for cryptocurrency exchange has now emerged as a full-fledged mainstream technology captivating the attention of tech giants and even the start-ups.
As per Statista, the global Blockchain technology market would be reaching 2.3 billion U.S. dollars by 2021. As per IBM’s latest survey, 655 of major global banks will be using Blockchain technology in three years. 17% of the banks will have complete Blockchain products.
When we talk about Blockchain technology, then its usefulness is not limited to just big names in the industry, even the startups can reap benefits from the same.
Our blog is going to discuss the same. We are going to highlight how Blockchain is impacting the startups and how it can prove useful for them.
Blockchain usefulness for the startups
Starting a business requires a lot of foresightedness and willpower, but its sustained is even more critical. There has been a steep increase in the growth of startups. Still, at the same time, these companies also need the assistance of technology that can make their business processes productive, and operations transparent while ensuring complete security of their data. Here comes the role of Blockchain technology.
Every startup looks for cost-effective solutions, and what better than Blockchain technology that offers a platform which is easy to access and use, at the same time, it also ensures encryption of all the transactions and data which eventually increases the safety and security of data.
Let’s see how:
1. Providing a transparent platform- One of the key aspects that any startup works on is providing a transparent platform wherein the business operations run seamlessly, and Blockchain does the same.
2. No third-party governance- A lot of startups fail to sustain in the business because of a lot of paperwork involved, right from approval of the transaction to its processing. Since the Blockchain technology works on the peer-to-peer network, there is no third-party interference. Hence, you can work on enhancing your business productivity, rather than spending time waiting for the validation of transactions.
3. Data security- Whether you are a big tech giant or you have recently started your business, the security of data is paramount. The conventional system that we use is full of bottlenecks, and one of them being the vulnerability of data. With the Blockchain system, yo don’t have to worry about the same. The system is free from malicious hacking attacks, and every information is encrypted cryptographically. In fact, with the surge of Blockchain platforms like Hyperledger Fabric, and Corda, which are permissioned, you are assured that the data is completely secure with the right governance.
Conclusion- All these features prove beneficial for startups. It helps them establish credibility in the eyes of the customers as well as the stakeholders. This is the reason more, and more companies are now investing in Blockchain technology. It has resulted in demand for Blockchain professionals, and with Blockchain certification, you have a high probability of making big in such companies.
The platform offers Blockchain certification courses and any individual looking for Blockchain certification program can opt for this course. For all the latest updates keeps on Blockchain technology keep coming back to Blockchain Council.