Why international businesses are considering blockchain technology for their business growth?
Cryptocurrency has had its share of peaks and valleys since its introduction, however, blockchain, the digital ledger associated with bitcoin has been dubbed as the new way to conduct business processes and transactions. Numerous international businesses including American Express, IBM and Walt Disney are now exploring blockchain solutions. Blockchain companies and service providers have also emerged with some such as the DDKoin platform enabling its users to create opportunities for economic growth and carry out faster, more efficient transactions over an extremely secure network.
Since its inception DDK has spread its network in throughout Asia, USA and countries around the globe. Through the development of blockchain solutions and with the help of a DPoS blockchain, members of the community can not only grow their business but also have a say in the maintenance, security and advancement of the platform, the benefits of which trickle to down to every user.
Extraordinary Security & Efficient Workflows
One of the biggest motives for international businesses to explore blockchain as the new way to function is the extraordinary level of security it provides. Blockchain also makes it easier to carry out international transactions and if implemented it can automate several processes which are still manual and contribute to lots of fraud and slowdowns. Implementing blockchain can help businesses reduce their costs and enabling smoother workflows, helping the business flourish.
Manual documentation is prone to fraudulent activities. Moreover, hackers breaking into the most protected of networks on Earth, such as that of Apple and Microsoft, have made it evident that even the mightiest are not safe from a cyber-attack. For enterprises conducting business all over the globe, the distribution of data in a proficient and secure manner is critical to success. Blockchain provides such businesses with an opportunity to share data in an encrypted form which can be shared with various users at a time.
Thanks to the real-time updates and a secure network, blockchain promises streamlined processes and swift payments for international traders. Manual documentation becomes redundant because everything is updated digitally. As soon as a work day starts and the cash begins to come in, the database starts logging every transaction. This means that thousands of stockholders such as a vendor, a consumer and a financial executive can work on a single database at the same time. However, none of them would be able to damage the records on their own, because blockchain stops an individual from making changes to a database without the other parties getting involved.
In addition to being secure, the blockchain way of conducting a business is swift and more cost-effective than the existing traditional methods. Every transaction recorded or carried out through a blockchain-enabled process saves time and money. Health, banking, and several other industries have started adapting blockchain as the world prepares for the blockchain revolution.