O que é Blockchain e por que sua empresa precisa dele?

What is Blockchain and why does your company need it?

May 23, 2024 Roberto Magalhães

Unleash the power of blockchain for your business. Increase safety, efficiency and innovation. Embrace blockchain technology today!

Thanks to the incredible hype surrounding bitcoin and cryptocurrency in recent years, blockchain is a huge buzzword thrown around the world of technology and finance. Although there are countless references in movies, pop culture, and even the world of everyday business, many entrepreneurs still don't fully understand what blockchain really is. Needless to say, they also don't know how it can help their business.

Blockchain services have the power to reshape not only the world of finance, but also video game companies, retailers and many other businesses across industries. Smarty companies even partner with Blockchain consulting organizations to ensure they are using the technology as effectively as possible for their specific niche – and it can also be a slightly confusing topic to fully understand for those who don't work with it on a day-to-day basis. day. -outside.

What is Blockchain?

Many companies lose money due to issues such as procedural delays, fees paid to intermediaries or intermediary services, and old-fashioned human error. These problems are definitely not new to business owners, but there is finally a modern solution to these common problems: blockchain. The power of this technology allows companies to speed up their business, while eliminating silly mistakes and helping to get rid of intermediaries and services.

Simply put, blockchain is a type of technology that records transactions in a digital ledger. Once transactions are in the said ledger, they cannot be changed or changed. These “blocks” or records of information are then linked using encryption. As the name implies, these blocks are interconnected to form a series of data.

Although data is not removable from the ledger or chain, more data can be added in the form of new blocks. This is very valuable for entities that transact with each other. With distributed ledger technology, participants with the necessary permissions will be able to access the same information at the same time to build trust, improve overall efficiency, and remove any type of friction.

Blockchain has gained a lot of admiration from a wide variety of users due to the fact that it is not owned by a single entity, which means it is decentralized and data is stored cryptographically. Once the data is inside the blockchain, no one can change it and it is immutable. The blockchain itself is transparent, so users have the ability to track data if they wish.

Blockchain is already revolutionizing the world of finance and industry. It is also quickly becoming an ally to the healthcare sector and helping to lead the way to a smarter energy sector when combined with the Internet of Things and artificial intelligence.

Why do companies need Blockchain?

Blockchain is an interesting addition and even a replacement for traditional methods of currency, transactions and centralized banking. Not only is this changing the way companies handle financial transactions, it also offers alternative uses that will ultimately change the world in other ways.

From everyday advancements to long-term solutions, blockchain has the ability to significantly shake things up for businesses in a number of ways, including:

More transparent contracts

Every company goes through situations where a contract is ready for signature by all parties involved, but suffers delays in starting the project. This delay is usually caused by the delay for everyone to read and sign the final version of the document.

Blockchain-powered smart contracts help eliminate this problem. A smart contract is a self-executing contract in which all terms for all parties involved are directly written into code. The terms and code of the contract reside on a decentralized blockchain network.

Each party involved always has access to the most up-to-date version of the documents. By eliminating the need to send revised copies and ensuring everyone is working on it, companies save time by avoiding waiting for approvals and signatures.

This also helps ensure that companies are paid as soon as they fulfill their end of the deal, while also guaranteeing goods or services if the other party backs out, even in a short space of time. Smart contracts are ideal tools for companies to use when doing business with people they are unfamiliar with.

Pay employees and monitor finances

Since blockchain started in the world of Bitcoin and cryptocurrency, it is also a great application or method for paying employees. Blockchain allows companies to compensate their employees in less than an hour without having to deal with the ridiculous transaction fees associated with traditional banks.

Paying employees or contract workers via blockchain is especially useful when employees are based remotely. It can also help save businesses money in other ways. For example, transactional records on the blockchain make it easier for companies to track their cash flow and manage all their payments. This also makes tax season much less stressful.

Improved Marketing Campaigns

Good marketing is absolutely vital for any company that wants to succeed in today's market. However, blockchain can help businesses boost their marketing efforts and make them even more successful.

Marketing experts use blockchain to track customer information and behavior to study them over time. With this information, they create better, more behavior-based marketing tactics and campaigns to generate a greater return on investment for the company. The ability to track things within the blockchain makes it easier to identify any changes made during the campaign. Plus, if an error occurs, it's easy to see what happened, when it happened, and helps you easily identify who was responsible.

Conclusion

Although blockchain started in the financial sector and the world of cryptocurrencies, it is already expanding far beyond finance. Blockchain has already started to make everyday business practices easier and more efficient. From budding entrepreneurs to enterprise-level corporations, blockchain will undoubtedly soon continue to take over more and more of these processes and procedures.

If you liked this article, be sure to check out our other articles on Blockchain technology: