The
blockchain is considered as a revolution within the tech industry as contain
numerous opportunities for growing and established businesses. Companies
that clinch it into their business model see significantly higher growth in
their annual ROI than those that are slow to adopt it. Most of the large
companies like Microsoft and IBM which are embedded blockchain to their
infrastructures are enjoying its commendations.
Nowadays,
Blockchain is used by most of the mobile app development companies as
it offers robust security features to deal with complex transactions. IBM is
using Blockchain to build a network that verifies people’s identities when they
use services like applying for driving licenses and opening new bank accounts.
Let’s
discuss from where it comes?
History Of Blockchain
Its
beginning story is fascinating just like its name, well it’s quite difficult to
trace its actual beginning as its entire beginning are perfect in their own
way. In 1997, an American computer scientist Nick Szabo introduced the first
time the term smart contracts to the world but it got popularity after the
development of blockchain technology.
In
2008, a person called Satoshi Nakamoto is blockchain. The blocks in blockchain
are knots containing encrypted information, as well as a reference to the date
of the creation, and the name of the previous block to which the current block
is related in a chained manner. Any change to the chain will not overwrite the
existing information but will be added as a new block, after it has been
validated by all the other blocks in the network.
How it simplifies the mobile app development process
According
to the Forbes, the biggest use of blockchain in
mobile payment apps. “Only 1.2 billion people have
access to a bank account with payment capabilities, while there are
approximately 5 billion unique mobile phone subscribers.”
A
partnership between the blockchain mobile
app development company and telecom companies allow people
to make secure mobile payments using mobile apps. Not only Fintech, but most of
the industries are also using blockchains to build decentralized applications
and simplified the app development process. Let’s brief about the industries which
are taking benefits of Blockchain technology:
Blockchain in the Retail Industry
The
retail industry uses Blockchain in supply chain management to offer best
quality control management. It provides greater trust, transparency, and
collaboration across the whole systems that would otherwise difficult to
manage. Additionally, the use of “smart contracts” offers automating and
auditing transactions in the retail industry.
There
are various supply chain startups that saw an opportunity in blockchain to
provide supply chain solutions in order to improve efficiency for the gigantic
supply chain industry. Most of the companies recently started using
blockchain-enabled solutions to transform their business.
Blockchain in the Healthcare Industry
This technology has the potential to shift the floor of health care industry by placing the patient at the center of the ecosystem. No doubt, Blockchain has increased the interoperability, privacy, and security of health data and allow doctors to examine their patients remotely. With the help of electronic medical records, it could offer a new model for health information exchanges to provide more disinter mediated and secure healthcare ecosystem.
Blockchain in Food Industry
The
food industry requires imperative solid records to trace each product and
Blockchain embedded solutions offer transparency in the workflow. One of the
established brand retail corporation Walmart retail uses blockchain to keep
track of its pork it sources from China and the blockchain records where each
piece of meat came from, processed, stored and its sell-by-date. Unilever,
Tyson, Nestle, and Dole also use blockchain for similar purposes.
These
are some industries which are availing the benefits of Blockchain technologies
in order to succeed in their respective field. If you also want to jump into
Blockchain ship with a unique idea, you must hire mobile app developers with deep knowledge
in Blockchain technologies and its tools.
Regardless
of the size and dimensions of your app idea, we allow you to hire
dedicated mobile app developers. Hire them on an
hourly/monthly basis, or acquire for a fixed price.
To
know more about Blockchain Mobile App Development, contact us or visit Consagous Technologies.
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