Why Do Businesses Consider Blockchain

Posted:22.10.2018, 00:09

Blockchain might have started from Cryptocurrency transactions, but all people who are familiar with it knows that it has potentials that can go beyond Cryptocurrency transactions. It’s basically a ledger, so any records may be applied to it.

Cryptocurrency is a digital currency, encrypted and transferred between peers, verified and added to the blockchain by which the process is called mining. Today, there are 2,000 cryptocurrencies in use, from very famous ones like Bitcoin and Ether to small scale ones, dentists’ use for example. Despite the blockchain subject being complex, people are knowing about it more and more. Even small businesses are considering it for use. This is because blockchain ensures secure and efficient transactions. It uses cryptographic techniques to keep all records legitimate. Once data is added to the blockchain, it becomes impossible to change and tamper it.

Since this technology is very useful for business, it’s no wonder why industries are eyeing it. It’s perfect for fast settlements and information protection—qualities that are very necessary for any business.

**Moderator**

Paulsanders, Thanks and welcome to the site!