5 Blockchain Applications That Are Used In Business

Must Read

It’s not a secret that automated solutions significantly improved the life of enterprises and daily customers. Imagine waiting for your morning coffee for ten minutes instead of the usual one and a half. Just because a barista needs to grind beans, boil the water, whisk the milk and wash a cup before serving your drink. Puff! God save the technical progress.

Blockchain solutions go even further than faster production and goods distribution. It offers you improvements on the virtual level, still, the results are completely real.

Why Use Blockchain in Business

Whether you’re an owner of a small home bakery or CEO of an international logistic company, you can use blockchain applications to organize your business efficiently. Starting from headhunting, supply tracking, all the way to quick payments without third parties. In other words, save your time and money. Here’s a list of the most popular blockchain apps you can already use for your business. 

1. Reliable Payment Processing

The convenience of making payments for your services or goods makes real sense for customers. Both daily retail users who look for a birthday present for their friend or how to purchase BTC instantly, and a company with a million customer database searching for a reliable supplier will need a quick and familiar option to transfer funds. For sure, your payment processor partner should be one of the trusted as well. Your task here is to find the best one that suits your and your customers’ needs.

Why Prefer Crypto Payments?

  • They are simple to use — you just need a recipient’s wallet address.
  • They are convenient — you can transfer from a fraction of the dollar to a million-value amount. 
  • They’re fast — regardless of the amount and distance, funds arrive at the destination within a few minutes or maximum some hours. 
  • They’re secure — all the transactions are kept on the distributed ledger and technically can’t be compromised. 
  • They don’t need a bank or payment processor — funds transferred from the sender to recipient without additional charges by third parties.

Many people use cryptocurrencies to transfer money abroad and pay for goods and services online. For instance, during the FIFA World Cup in Russia, many fans demanded to make it possible to pay for tickets with cryptocurrencies, because most of them were foreign visitors. So they need a simple option to buy tickets quickly, while many countries have no direct bank connection. So, with a BTC exchange mobile app on your smartphone, you could easily get tickets in the shortest time by simply transferring crypto onto the merchant wallet address. 

What services to use?

RippleNet is probably the most popular payment processor in the crypto world. Nowadays, it connected over a hundred finance institutions worldwide. To join the network, you need to sign-up on the official website and provide some supportive documents about your business. 

What will you get in return? RillpeNet picks over the payment providers by a group of strict parameters. This way they create smooth and transparent interaction between participants while reducing the cost and time of transactions. 

One more app deserving attention is dArray, an accounting software. Freelancers, for instance, can use it for managing their invoices, controlling expenses, and even sharing files and contacts. And larger companies will find it useful for sourcing goods, including raw materials, specialty equipment, or something else entirely.

2. Decentralized Tools for Hiring People

With blockchain solutions offered by HireMatch, you don’t need the costly services of professional recruiters to find specialists for your company. Among the advantages, useful tools for managing candidates, options to schedule interviews, and cryptographical security for your database. A good point also is that you can try services with a demo account.

Another blockchain platform connecting job seekers with suitable career opportunities worldwide is HireVibe. For their services, they charge a symbolic token amount of 7.5% from the employer, based on salary or total job cost when a successful candidate is found and hired.

3. Facilitated Digital Marketing 

Blockchain applications will best assist you in digital marketing researches and campaigns. For instance, Hyperledger offers a decentralized operating system and secured data-sharing network. It uses smart contracts to help digital marketers better protect the data about their company, clients, and business processes. Hyperledger helps reduce costs and facilitates customer access by storing information on a shared network. That means marketers and buyers can view this info anytime by simply connecting to the blockchain.

In other words, not only blockchain can offer you more ways to automate your communication with customers, but also create a trusted relationship with them. Because of the transparent and highly secured storage of data you hold about them. 

4. Automated Onboarding According to your KYC

Think that KYC is for financial institutions only? And what about gaming sites and video streaming platforms? If the products you sell or services you provide are for legal-aged customers, automated verification of customers is what you need today. Besides, KYC policy can help you avoid bad customers like those involved in money laundering, terrorist financing, drug distribution, etc. 

Blockchain tools, like KYC-chain, can check your clients by scanning partner sanctions and watchlists. This app, in particular, operates with data from 240 countries. One more benefit of this platform is that users can keep their certified identity details on-chain and control access to their credentials with a public key. The company can see the clients’ crypto wallet spendings against known-risk indicators, known as AML (anti-money laundering) rules.

5. Transparent Supply Chains 

The robust and immutable nature of blockchain technology is best suited for tracking supply chains and product authenticity. The reason is that the delivery system needs an infrastructure with continuous outperforming for long period, and secure data storage with limited access to it. 

To track the provenance during the production process, DLT.sg (Distributed ledger Technologies, Singapore) uses a set of enterprise-grade blockchain dApps. These apps are focused on supply chain and artificial recognition technologies. Also, DLT.sg integrates with SAP and Microsoft software via APIs to connect to legacy databases.

Another app, Chainyard, is designed to improve supplier validation, onboarding, and information management. It can be used to track the deliveries and verify identities and check documents like ISO certifications, bank account info, tax certifications. Their blockchain bases service Trust Your Supplier gives buyers access to their provider’s background information. 

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Must Read

It’s not a secret that automated solutions significantly improved the life of enterprises and daily customers. Imagine waiting for your morning coffee for ten minutes instead of the usual one and a half. Just because a barista needs to grind beans, boil the water, whisk the milk and wash a cup before serving your drink. Puff! God save the technical progress.

Blockchain solutions go even further than faster production and goods distribution. It offers you improvements on the virtual level, still, the results are completely real.

Why Use Blockchain in Business

Whether you’re an owner of a small home bakery or CEO of an international logistic company, you can use blockchain applications to organize your business efficiently. Starting from headhunting, supply tracking, all the way to quick payments without third parties. In other words, save your time and money. Here’s a list of the most popular blockchain apps you can already use for your business. 

1. Reliable Payment Processing

The convenience of making payments for your services or goods makes real sense for customers. Both daily retail users who look for a birthday present for their friend or how to purchase BTC instantly, and a company with a million customer database searching for a reliable supplier will need a quick and familiar option to transfer funds. For sure, your payment processor partner should be one of the trusted as well. Your task here is to find the best one that suits your and your customers’ needs.

Why Prefer Crypto Payments?

  • They are simple to use — you just need a recipient’s wallet address.
  • They are convenient — you can transfer from a fraction of the dollar to a million-value amount. 
  • They’re fast — regardless of the amount and distance, funds arrive at the destination within a few minutes or maximum some hours. 
  • They’re secure — all the transactions are kept on the distributed ledger and technically can’t be compromised. 
  • They don’t need a bank or payment processor — funds transferred from the sender to recipient without additional charges by third parties.

Many people use cryptocurrencies to transfer money abroad and pay for goods and services online. For instance, during the FIFA World Cup in Russia, many fans demanded to make it possible to pay for tickets with cryptocurrencies, because most of them were foreign visitors. So they need a simple option to buy tickets quickly, while many countries have no direct bank connection. So, with a BTC exchange mobile app on your smartphone, you could easily get tickets in the shortest time by simply transferring crypto onto the merchant wallet address. 

What services to use?

RippleNet is probably the most popular payment processor in the crypto world. Nowadays, it connected over a hundred finance institutions worldwide. To join the network, you need to sign-up on the official website and provide some supportive documents about your business. 

What will you get in return? RillpeNet picks over the payment providers by a group of strict parameters. This way they create smooth and transparent interaction between participants while reducing the cost and time of transactions. 

One more app deserving attention is dArray, an accounting software. Freelancers, for instance, can use it for managing their invoices, controlling expenses, and even sharing files and contacts. And larger companies will find it useful for sourcing goods, including raw materials, specialty equipment, or something else entirely.

2. Decentralized Tools for Hiring People

With blockchain solutions offered by HireMatch, you don’t need the costly services of professional recruiters to find specialists for your company. Among the advantages, useful tools for managing candidates, options to schedule interviews, and cryptographical security for your database. A good point also is that you can try services with a demo account.

Another blockchain platform connecting job seekers with suitable career opportunities worldwide is HireVibe. For their services, they charge a symbolic token amount of 7.5% from the employer, based on salary or total job cost when a successful candidate is found and hired.

3. Facilitated Digital Marketing 

Blockchain applications will best assist you in digital marketing researches and campaigns. For instance, Hyperledger offers a decentralized operating system and secured data-sharing network. It uses smart contracts to help digital marketers better protect the data about their company, clients, and business processes. Hyperledger helps reduce costs and facilitates customer access by storing information on a shared network. That means marketers and buyers can view this info anytime by simply connecting to the blockchain.

In other words, not only blockchain can offer you more ways to automate your communication with customers, but also create a trusted relationship with them. Because of the transparent and highly secured storage of data you hold about them. 

4. Automated Onboarding According to your KYC

Think that KYC is for financial institutions only? And what about gaming sites and video streaming platforms? If the products you sell or services you provide are for legal-aged customers, automated verification of customers is what you need today. Besides, KYC policy can help you avoid bad customers like those involved in money laundering, terrorist financing, drug distribution, etc. 

Blockchain tools, like KYC-chain, can check your clients by scanning partner sanctions and watchlists. This app, in particular, operates with data from 240 countries. One more benefit of this platform is that users can keep their certified identity details on-chain and control access to their credentials with a public key. The company can see the clients’ crypto wallet spendings against known-risk indicators, known as AML (anti-money laundering) rules.

5. Transparent Supply Chains 

The robust and immutable nature of blockchain technology is best suited for tracking supply chains and product authenticity. The reason is that the delivery system needs an infrastructure with continuous outperforming for long period, and secure data storage with limited access to it. 

To track the provenance during the production process, DLT.sg (Distributed ledger Technologies, Singapore) uses a set of enterprise-grade blockchain dApps. These apps are focused on supply chain and artificial recognition technologies. Also, DLT.sg integrates with SAP and Microsoft software via APIs to connect to legacy databases.

Another app, Chainyard, is designed to improve supplier validation, onboarding, and information management. It can be used to track the deliveries and verify identities and check documents like ISO certifications, bank account info, tax certifications. Their blockchain bases service Trust Your Supplier gives buyers access to their provider’s background information. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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