What Are The Various Business Divisions Blockchain Can Be Integrated Into?

by Flexsin Inc. General Content Writer

IBM had lately conducted a survey over four thousand executives, which had shown that over 10% of businesses are considering to integrate blockchain technology into their core operations. While the advent of blockchain might not accepted as sincerely as it’s being today and widely, today, it seems to have gotten popular twice of the previous days. Businesses are now convinced of the fact that blockchain has the potential to maximize not just revenues, however the sustainability. Time for depending on conventional central database in order to make profits is up. The bottom line is that blockchain has multitude of aspect that are due for multi-industry implementation.

Blockchain into payment system

Within the area of international transfers or eCommerce, digital currencies, a.k.a. cryptocurrencies are used as a substitute to PayPal or credit cards. According to one of the earliest instances of this technology effective, there are numbers of blockchain payment systems, already having full-grown ecosystems and verified wallets for encrypted storage.

Blockchain in marketing

Since a lot many business divisions are undergoing blockchain disruption, marketing is expected to be the next big change within this context. There’s going to be a significant improvement in the way marketing has been done so far, by transforming martech and advertising.

Blockchain in supply chain

While the rate of manufacturers and operational offices interested in adopting blockchain has risen over time, blockchain itself is improving its contributory features for supply chain management. Now, you won’t just be able to remove the third parties that were earlier extorting you, but track the entire journey of a product’s lifespan.

Blockchain in human resource.

The presence of an apt human resource team can actually make or break a business. From employee development, payroll management to sourcing fresh talents, this entire department is dedicated to organization’s well-being and overall growth. Integration of blockchain will help the executives verify and assess education of the candidates without involving any third party, give comprehensive and trustworthy report on candidates’ work experience. Moreover, cross-border employee mobility and payments, including offshore tax liability and expenses can easily and accurately be managed.

Blockchain in accounting.

Blockchain is potential for industry-wide accurate accounting revolution. Whether it be human error or system originated error, blockchain will virtually eliminate the chance of all possible errors.

Blockchain and business intelligence

Within the area of BI and data analytics, blockchain can be applied to significantly advance security system and reduce dependency on central authorities.

Flexsin has been helping clients belonging to several industry verticals explore different benefits of blockchain application development, by creating them custom solutions, so to deliver value. Their intense and comprehensive astuteness about any industry and multi-disciplinary model has helped many businesses across diverse industries attain respective blockchain goals. Following are their six common blockchain solutions and services:

• Blockchain strategy

• Consortium strategy

• Platform design

• Blockchain architecture

• Use case design and implementation

• Blockchain services management