5 Blockchain Implementation strategy for Business

by Blockchain council Blockchain certifications

Many companies are now looking forward to adopting Blockchain technology. The technology has the potential to disrupt every business function positively. Although, the Blockchain technology proposes to be a great asset, yet, it is at a very nascent stage. With a history of a decade, technology has given enough evidence to support the fact that it can be a boon for many industries.

PwC in a global survey of 600 executives found that though 84% of the organizations are working towards the use of Blockchain technology, only 15% of them have live projects. So, it clearly shows that there is a huge scope of growth for Blockchain expert and Blockchain developers. Choosing a Blockchain career is a positive move that one can make; as more and more companies venture into this, there will be a need for proficient Blockchain experts who can help in implementing this technology.

As per Gartner’s forecast, Blockchain will generate around $3 trillion business by 2030. With the right strategy and skilled Blockchain experts, companies would be able to make their business grow.

Five ways in which Blockchain can be implemented:

1. Insurance- one of the areas where Blockchain can prove to be helpful is the insurance sector. Data transparency is something that every business must-have. It makes functioning more efficient and also helps in building the trust of the stakeholders and customers. The entire insurance process can be automated by implementing smart contracts.

Benefits that Blockchain will bring to the insurance sector:

· Lesser cost

· Easy settlement

· Easy auditing

· Better data quality

· Enhanced security

2. HealthCare- Another sector where you can find widespread use of Blockchain platforms is the health care segment. There is a great amount of data and information exchange that takes place in the health care system; it can be anything like personal information of the patient, their health condition, healthcare records, etc. With the help of Blockchain, all this data can be stored on the Blockchain platform. This information can be easily accessed from different places. Moreover, Blockchain offers complete safety and security of information.

Benefits that Blockchain will bring to the healthcare sector:

· Doctors can access this information easily

· Data is safe

· Saves time

3. Real Estate- When we talk about the implementation of Blockchain platforms across different sectors, then real estate is no different. You can use Blockchain to track the history of the property, title deeds, etc. Moreover, with Blockchain, you can expect to put a tab on the vulnerabilities of the real estate sector. With the help of smart contracts, we can expect easy sales and purchases. There are companies like Velox.RE that is planning to implement Blockchain in real-estate transactions.

Benefits that Blockchain will bring to the real estate sector:

• Lesser cost

• Transparency in the system

• Automated payment

• Lesser or no fraud activity

4. Digital Identification- When it comes to digital identification, then Blockchain can prove to be extremely beneficial. It can help in increasing the transparency of the system while maintaining complete security. Blockchain offers easy access to data without the probability of information getting tampered or hacked.

Benefits that Blockchain will bring in Digital Identification:

• Enhanced privacy

• More control of the user on the information

• Unique IDs

• Lesser frauds

5. Banking System- Although Blockchain is the new bloke when it comes to its most widespread uses, then banking and financial sectors have been using it. In fact, Blockchain brought with it a digital financial revolution. There are certain challenges when it comes to the conventional banking system, its slow, time-taking, and there are too many intermediaries. With Blockchain, the banking system can easily overcome all these problems.

Benefits that Blockchain will bring to the banking sector:

• Lesser cost

• Faster payment settlement

• Data security

• Easy auditing

With the growing use of Blockchain technology across different business segments, it becomes important for companies to hire trained Blockchain expert and Blockchain developers. Whether you are a working professional or a fresher, Blockchain certification is going to be beneficial for you.

Choosing Blockchain Council

Blockchain Council brings you this comprehensive Blockchain certification program. This has been developed as per the industrial standards, such that you can stand competitive once you complete this certification. As a part of this course, you will develop a complete understanding of Blockchain technology and its implementation.

Blockchain technology is going to be a cornerstone for new technological development, and if you are willing to make a career in this field, this is the right time to enroll for the Blockchain certification program.