Because each transaction is immutable, encrypted, and protected by permissions, no one else can tamper with it.įor the blockchain to work, parties need to agree to pre-established terms, such as the nature of the transaction and how they will work together. It’s a new way that people and companies can create, verify, and enforce value-based transactions, and offers a safe, secure, and transparent way to negotiate and transact in real time without paying for a middleman. But blockchain can be used for any type of value-based transaction-to exchange money, property, goods, services or anything that requires an enforceable contract or authorized access. Many people think that blockchain is only for the creation and exchange of money/cryptocurrencies, such as Bitcoin. In this blog series, we’ll cover a few ways to gain a competitive advantage in your industry by bringing the physical and digital worlds together using technology. There are many ways to innovate, and emerging technologies can accelerate and deepen our understanding of things like customer behavior, streamlined and smarter transactions, and tracking your business goals. Future-proofing your small business starts with the cloud, but it doesn’t end there.
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