Business Interest in Blockchain

Prologue

Often, when people hear the phrase “blockchain developer”, the following picture immediately appears before their eyes: a specialist comes and starts telling company that they are doing everything wrong, the blockchain is created differently, etc. A similar situation was often observed in the banking industry in the early stages of the blockchain era. The specialists of many banks, deeply immersed in the theory, began to “create” the blockchain. But, as it turned out later, this technology did not work in any bank. The main problem was that for the effective launch of the blockchain, not only specialists are needed who have achieved an understanding of what blockchain technology is, but specialists with certain basic knowledge and experience in launching a blockchain are needed. Companies that are unsure of their ability to create such a project can easily get blockchain infrastructure consulting and realize their business interests.

Blockchain distribution

The demand for blockchain does not subside. And this is an indisputable fact, which is based on several clear advantages. Here they are:

– blockchain technology leads to the acceleration of any processes,

– thanks to the blockchain, security problems are effectively solved,

– the use of blockchain provides transparency to any type of activity,

– maintenance of the system of blocks, like a database, does not require large costs and efforts, while ensuring high reliability.

In other words, blockchain can be a boon for any company and not only financial. With success, this technology can be used in the processes of government agencies, in the healthcare sector, in any company where it is important to track supply chain activities, in trade, energy, food industry, etc. In short, it is difficult to name an area of activity where the blockchain ecosystem could not be applied. Is this a proof that it is easy for any company to apply technology – there would be a desire? Of course not. Despite the fact that the interest in the blockchain is becoming more and more, this innovation cannot be called completely finalized. Even after several years since its inception, blockchain technology still remains a technology close to experimental. This suggests that some of its components need to be improved, and maybe even changed.

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The fact that initially the blockchain technology was conceived as a means of controlling the crypto currency, gradually began to go down in history. And this is no coincidence, because business immediately drew attention to one very useful feature of the blockchain. The blockchain database or, in other words, the general registry turned out to be not just publicly available, but publicly available in real time. This provided each desirous with the opportunity to directly participate in the entire chain of activities within the blockchain. In addition, it turned out that there is another great feature of blockchain technology. The security system built into the blockchain ensures the irreversibility of all processes, information about which is stored by the blocks of the chain. That is, practically no one will be able to change anything in the blocks under any circumstances.

Competence of experts

Naturally, such advantages of blockchain technology have become very tempting for many lines of business. Various blockchain projects began to be created, both by the companies themselves and with the involvement of groups of expert consultants. The number of such requests is steadily growing, which means that the market of experts in blockchain technology also increases the requirements for the competence and experience of consultants. There are certain indicators of the basic knowledge of blockchain experts.

  1. Knowledge of Crypto Math. 
  2. Knowledge of Network Protocols. 
  3. Knowledge and understanding of Decentralized DBs.
  4. Understanding and ability to work with Highload Requests.
  5. Knowledge of Blockchain Protocols.
  6. Understanding the essence of Private & Public Data.
  7. Ability to write Smart Contracts.
  8. Understanding the role of the user part of the network and Web 3 architecture.
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Epilogue

What additional prospects, in addition to those listed above, can expect a company that has set its sights on blockchain technology? First of all, the application of such an approach forms a completely new work strategy, which means it sets new tasks for the top management of the company. For example, it becomes possible to successfully fight corruption using blockchain technology as one of the ways of this fight. In addition, good prospects appear in reducing bureaucratic influence on business processes. Of course, this process is not fast and requires significant capital investments, but the result will certainly become invaluable not only for any company, but also for any state.