OliveWarner

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How a blockchain development company helps in
business?
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Blockchain is the new buzzword on the internet
nowadays. With time, more number of people are
becoming familiar with securing transactions with
this technology. It implements cryptography for
creating digital records which are almost
impossible to modify or hack. Some professionals
are of the view that Blockchain is on par with
technology like the internet. 
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But Whats the driving force behind this growth?
Various factors such as the need to make business
processes simple to keep pace with the speed of
business, traceability, transparency and lesser
costs.    So many IT companies are now rising
to the call with Blockchain as a Service (BaaS)
offerings. These cloud-based solutions are
helping businesses implement the blockchain
technology without them having to start from the
bottom. One of the IT giants, Intel has developed
Software Guard Extensions to maintain privacy and
security in blockchain contracts, and the list
goes on.
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Here are a few examples of how the blockchain
development company can help businesses   Stock
market   A quintessential example of blockchain
application is the securities market. If a
company wants to sell its shares, instead of
using intermediate parties, such as a stock
exchange, it sells them directly. This reduces
the transaction costs, and the transfer of the
shares can be done quickly.
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Gaming industry   A blockchain development
company can create some blockchain-based gaming
platforms that enable gamers to make money while
playing. It also lets developers have the luxury
of having their expenses reduced on the promotion
of their games. This will pave the way for new
developers to a significant number of audience
with small budgets.
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Micropayments   The currency transfers between
countries are regulated by several factors,
increasing the costs. In places such as the music
industry, where micropayments are the
fundamentals of the business, blockchain
technology makes the currency transfers much
easier, which bypasses the existing financial
system and actually reducing the transaction cost
to nil.
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Copyright protection Blockchain is most likely
the right technology for copyright protection.
The information about the product is stored (such
as when, where, and who has created it, who they
transferred it to, and how they used it). This
data will never get removed and is always
available in case of any dispute. This helps the
inventors, and manufacturers claim the authorship
and rights of ownership.
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Conclusion  Blockchain technology is the need of
the hour. Irrespective of your business niche,
implementing this technology will ensure the
creation of a transparent platform.