How Popular Applications Can Benefit From Blockchain

Initially, blockchain was just a convenient mechanism for bitcoin cryptocurrency, but this technology has proven to be a universal solution for any application that stores data or involves transactions.

Blockchain can be used in any application to protect data by using sophisticated cryptographic algorithms. All the information stored in a blockchain is unchangeable and remains there forever.

Therefore, blockchain is the most secure system and offers countless benefits for business, communication, and financial transactions.

This technology can also make mobile applications more secure and efficient, protecting payments and personal data. Specifically, businesses that take advantage of blockchain developers and technology can offer an array of benefits for customers. 

Blockchain Can Secure Transactions for Online Business

Blockchain allows users to make secure transactions with no third parties involved, which is a good opportunity for online business.

This technology would be very useful for applications such as Telegram, a popular messenger that many small business owners use.

Although many people use it as a communication platform, Telegram can function as a platform where entrepreneurs and small businesses can build communities and sell their products or services. 

Source: Google Play

Using Telegram, companies build communities of loyal customers and people who are interested in their products.

Such a platform would be incredibly beneficial for these companies if it included a reliable system for users to make purchases directly from a seller, with no need to use third-party payment systems such as PayPal or Skrill, which often take fees for every transaction and have restrictions regarding the location or transfer amounts.

Blockchain provides an opportunity to avoid these hassles through cryptocurrencies, especially when it comes to international payments.

Cryptocurrency transactions are not stored on one server, in contrast to peer-to-peer (P2P) payment solutions. Instead, transactions are based on a multi-level verification process, which makes this system of data protection more effective than any other existing solution.

The very nature of blockchain technology ensures the security of transfers. It’s a ledger distributed among millions of computers, with no central server that grants access to all the data.

Every piece of data (block) has its own cryptographic hash. Therefore, a potential hacker would need to target every block associated with a transaction. Given that there are millions of such blocks in a blockchain, such a task would be possible only if a whole network of developers colluded on it. 

Blockchain Protects Creative Content

Blockchain can protect intellectual property, which allows everyone to check the originality of creative content.

There are many applications that help people share and sell their intellectual property, including freelance platforms such as Upwork or Freelancer and apps such as Instagram or SoundCloud.

These apps and websites focus on different types of content, but have one thing in common: They are open for misuse. 

Intellectual property is a serious problem online. Blockchain provides a solution to this problem since its encryption system helps identify if a file is original.

The cryptographic hash cannot be changed or rewritten, so anyone can see the origin of the file.

This feature of blockchain also makes it the most promising technology for any kind of supply chain management, as it records the whole history of any product from the moment it was manufactured until the moment consumers start using it.

This system makes it easier to share original materials than to present them as your own. Given the reliability of blockchain, violation of copyright laws becomes a difficult task because its easy to trace the original source as well as the source of the stolen copy.

Service Platforms Can Use Blockchain to Facilitate Communication

Platforms such as Airbnb and Uber can use blockchain technology to facilitate direct communication among stakeholders in the platform (i.e., riders and drivers) and make transactions within the platform.

In addition, such companies wouldn’t need to store large amounts of personal data.

If a company needs to verify a certain transaction, there’s no need for credit card data. The identity of all the participants can be verified with no risk of exposing important financial information, thanks to a system of private and public encrypted keys. All they need to do is make transactions in blockchain-based cryptocurrencies.

As a result, all the processes within the platform become traceable, which increases the quality of services and speeds up direct cryptocurrency transactions because there are no third parties involved. 

Blockchain Can Help Companies With Security, Intellectual Property, and Communication 

Popular mobile apps can benefit from integrating blockchain technology.

The most important features of blockchain are its security and flexibility. All the data is stored on millions of computers, making blockchain impossible to hack. This means value-added benefits for any business and increased reliability.

Blockchain allows companies to ensure high quality of services, while customers save on cost because they don’t need to pay fees associated with the external payment services.

Blockchain can change popular apps as we know them, which provides new opportunities for developers.

This technology facilitates online transactions and protects information. Using blockchain, users don’t need to rely on trustful relationships anymore, as this system guarantees the complete safety of payments and protects information.

About the Author

Berta Melder Co-Founder, Masterra

Berta Melder is an experienced brand manager, a content strategist and co-founder of the Masterra, and contributor for many websites. She is passionate about her job and serves as a guest lecturer for many different education courses about a broad range of digital topics. Follow her on Twitter

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