Blockchain is a peer-to-peer ledger that records transactions made in cryptocurrencies across several computers. In a more concise way, it’s a ledger from which removing a record is nearly impossible.
While cryptocurrencies have been deemed illegal for a brief time in several huge economies, they are still relevant and used for several transactions above any limitation faced by conventional banking framework. However, the topic of discussion is not cryptocurrency (sorry Bitcoin fans!) but Blockchain.
As Uncle Ben acclaimed, “With great power comes great responsibility”, Blockchain is one example of how businesses need to adapt to the Blockchain into their businesses responsibly. While Blockchain offers a high tier of trust and transparency, it could affect a business too which is why every business idea must have a Blockchain Strategy.
No Loose Ends
While designing a Blockchain Strategy, one must understand the implications behind. In this post, we will focus on applications of Blockchain and its positioning during the current crisis. In recent times, the sensationalism is one of the tools several businesses have used to drive traffic towards them. While the debate continues if it’s good or evil, we will bypass it and focus on the technicalities.
Crisis, such as COVID-19, is used by several scammers around the world to scam people and make a quick buck. However, sensationalism plays a major role in driving traffic not just towards the desired target but also towards the deviated target or scams. However, Blockchain could be useful in reducing fake news and other tools to sensationalize or scam. There are innumerable ways of achieving it and we would like to leave that to you to think and contact us to discuss further.
In one of our posts, we covered how Circular Retail could save millions of tonnes of waste and how upcoming technologies such as VR could become the battleground for brands. However, with the intention of keeping this blog post concise, we want to sow a thought in your mind on the use case of this technology in other untapped sectors.
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A link to help you: How Blockchain works?
Originally published at https://www.rejigez.com on April 6, 2020.
