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6 Ways Your Small Business Can Benefit from Blockchain.
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How entrepreneurs can make use of Blockchain technology to manage their business
Blockchain gives entrepreneurs and small businesses choice, privacy and protection.
Today, a multitude of business organizations are adopting blockchain technology for its capabilities beyond cryptocurrencies, it is used in all major areas of the business from accounting, regulatory compliance to operations. The management of tangible, intangible, and complex assets has become easier, and efficient with the help of blockchain technology.
Assets such as real estate can be tokenized, divided, and distributed with minimal security concerns and management costs, which is often concerned with liquidity and investment size. It also helps in facilitating payments and managing the flow of money with ease.
There are many innovative ways of using blockchain by industries to streamline growth. With distributed ledger technology, authorized participants can access the same information at the same time securely and efficiently. In addition to that, adding good antivirus softwares, will bring you more security.
At its simplest form, a blockchain is a digital collection of information about transactions. This is also called a ledger, which is why this word is often used when describing blockchain technology.
When you have many different collections of data, they’re stored together using a system based on blocks of data chained together. Because each block is chained to those around it, they interact with each other.
This creates a system where if a block is altered, an adjacent block will immediately catch the error and prevent the invalid transaction. As a result, transactions on the blockchain cannot be changed — creating a permanent record that’s shared with everyone on the network.
The blockchain has the potential to unlock how we view and spend money, and how we’ll legitimize a variety of agreements, contracts, and technologies.
To reduce maintenance cost and time in maintaining ledgers and providing clarity over ownership of assets, accounting professionals are broadly using blockchain technology. It can help accounting professionals to have secured, centralized access to records and a clear view of available resources of the organization. For example, PermaRec and Rubix check network for the bank transfer is the blockchain chain based triple-entry system accounting applications developed by Rubix ( A blockchain development team).
Ballance-3 is a triple-entry system based application built on open-source technology provided by Ethereum foundation. There are many examples of blockchain taking accounting to the next level. Blockchain systems are impenetrable, it has the capabilities to eliminate all the accounting downsides aligned with the double-entry system of accounting which has been in place since 1458.
Blockchain technology is uniquely positioned to help businesses with advertising and marketing. According to a report by Juniper Research, the advertisement industry bears a loss of $40 billion every year due to fraudulent activities and it can reach $54 billion by 2022. Blockchain principles can be applied to programmatic media buying to eliminate such fraudulent activities.
It can provide transparency and improve the media supply chain by eliminating the mediators. It is also a unique solution to protect consumer’s privacy, it is always a high priority. There are many other advantages of using blockchain for advertising and marketing which can help businesses to take marketing and advertising to the next level. IBM, Blockchain4Media, AdNode, AdDax, and many other companies offer their products in the market for blockchain advertisement.
Human resources can be uniquely benefitted by blockchain technology, it can help in validating genuine information about age, nationality, work experience, qualification, certificates, skills, and more. It ensures employee’s data security and authorized access by the employer. It also affects payrolls in multinational companies and businesses with foreign employees.
One of the major benefits of blockchain technology in human resources is the ability to create smart contracts and eliminate the possibilities of disputes beforehand. Blockchain capabilities can be helpful for businesses in many ways to save time and operational costs in human resource activities.
Blockchain plays the most important role in cyber security. Many big and small companies face a massive amount of losses due to cyberattacks, Yahoo and Equifax are some big names facing massive data breaches. Companies are focused on protecting networks, computers, and data from attacks and unauthorized access. All the information recorded in the blockchain distributed ledger technology is secure, transparent, and easily accessible. It can help organizations to protect data and ensure an effective cybersecurity system.
Blockchain helps businesses to streamline the supply chain in a secure, transparent, and hassle-free manner. Data immutability and decentralized authority are important in the supply chain because it is a process where a continuous record of data needs to be maintained.
For example, blockchain is used in the pharmaceutical industry to track the medicine lifecycle from production to pharmacy point. Companies like Albertsons, Walmart, and Carrefour-french multinationals retailers are embracing the potential blockchain for efficient supply chain management.
6. Market Network
Markethive is the Epicentre of the Entrepreneurs of the World.
It delivers a complete ecosystem all built within the blockchain. The Divine mission of Markethive, the blockchain-driven social market network, was developed to fill the vacuum for the world's entrepreneurs. MarketHive is an entrepreneurial social marketing platform with the combined strength of LinkedIn, Amazon, Facebook and Marketo.
If you have an online business, the Markethive system has all the free tools you need to grow your business. You'll soon discover an incredible number of marketing tools, i.e.: autoresponder email, messaging blogging system video storage newsfeed banner exchange groups tutorial system, (to name a few).
All at your disposal f.r.e.e
Right now you can signup to Markethive for free and receive 250 HiveCoins straight away and all those tools I mentioned above. If you're an entrepreneur, you'll want to experience Markethive for yourself.
So get signed up today .
To Join for Free, click HERE
To your success!
Andries van Tonder
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Serial Entrepreneur/investor since 2013.
South Africa.
Follow me on FaceBook, Twitter, WebTalk, Instagram & Markethive
