Blockchain Technology — A Catalyst for Small Firms
Blockchain Technology is no longer jargon. So, let’s skip the monotonous definition and move forward to a more important aspect. (In case you need a formal introduction to Blockchain, I would request you to go through this post before reading forward: Blockchain is not what you think (And what it really is!) ) If you have been thinking blockchain has one application called cryptocurrency, then correct yourself! It is neither restricted to cryptocurrency nor big firms! Smaller firms can widen their span by implementing blockchain. Thinking how? Read on… Here are some advantages or applications of blockchain technology for smaller firms: (Note: The initial cost turns out to be high but once all in place yields significant benefits!) Smart Contract: Tired of disputes with manufacturer/distributor? Try hands-on smart contract. It is a computer-generated contract where a transaction executes only when the defined conditions are fulfilled . Get more Investor