If you manage your own business website, or serve clients who bring in customers through the web, you’ve probably wondered about blockchain.
Blockchain technology can be incredibly powerful and transformative for certain business models. If you want to stay ahead of the next tech trends, then now is the time to get familiar with what blockchain is and how it works.
Consider this your intro to the basics of blockchain, so you can decide whether it’s right for you, or clients you represent.
What is blockchain?
Blockchain is a technology that helps keep data more secure. It’s utilized by some tech companies, and is currently being offered as a service for smaller organizations as well.
Blockchain technology encrypts data, so it can’t be accessed by anyone who’s not authorized to view it. The information is also stored across a network of servers rather than on one single server, which significantly decreases the chances of being hacked.
Why is blockchain important?
Blockchain allows information to be transferred securely. It’s especially useful for payment processing and protecting intellectual property. The rise of blockchain is great news for anyone who makes purchases online or shares their personal data, as well as the companies that facilitate those transactions.
Blockchain makes it nearly impossible for malicious hackers to commit fraud, so it could reduce the likelihood of identity theft. Since it protects consumers, it also helps build customer trust and loyalty.
It also allows businesses to automate and digitize some of the processes that they may have completed in person previously. Blockchain makes it safer for individuals to share their information and records, so there’s less need for paper files and lock boxes.
For all of these reasons, blockchain has the potential to help organizations streamline and improve their operations.
Would my business benefit from blockchain?
Blockchain is incredibly valuable for companies that handle financial or personal data. Not surprisingly, it’s growing in popularity within the healthcare and finance industries, among others.
Blockchain is already being leveraged by most of the major Silicon Valley tech giants, but that doesn’t mean it’s limited only to fortune 500 companies. It may be right for your client if they handle a lot of online payments and need to preserve large amounts of personal information.
How can I leverage blockchain?
Some of the major tech companies offer blockchain platforms and services that make this technology more accessible. It could be valuable for any organization that handles personal details and payment data.
In order to implement blockchain effectively, we recommend partnering with an experienced team of developers who can help you throughout the process.
Learn more about blockchain
If you think this technology could benefit your brand or your clients, then explore it further. If you’re a business consultant or marketing entrepreneur, it’s a good idea to stay abreast of current tech trends, even if you don’t implement them right away. If you’re sufficiently informed, you can respond to questions confidently, and you’ll know if and when you might benefit from the tool.
If you have more specific questions about blockchain or any other web development trends, explore our library of content or connect with an experienced developer on our team.