In
2018, approximately 95% of mobile app
development companies across various industries
were investing in blockchain integrated projects. The use of blockchain
technology within enterprise blockchain will monopolize real-world projects in
the short-term. “Enterprise blockchain will also claim a significant fraction of
the $500B+ global enterprise software market”.
The
blockchain technology has pretty much become a common word by now and
businesses are taking it seriously to feel the gratification that it offers.
IBM alone is working with hundreds of enterprises on blockchain implementations
and each day other MNCs are transforming blockchain’s promise into bottom-line
business results. But building and deploying enterprise blockchain solutions for mobile app
development is not an easy task, therefore it’s
hard to tackle on its own. Currently, IBM Blockchain is helping organizations
to allies this evolving technology across departments and disciplines,
industries and organizations.
Today
many enterprises are deploying blockchain solutions across various sectors:
food sector, logistic, healthcare, and finance.
When to Use Blockchain?
From
a technical context, we could use blockchain to many aspects. While not every
situation requires blockchain, but there are some situations where it creates
significant value compared to other technologies. Usually, these are shared
business processes, with the companies in different industries such as
Healthcare services, financial services, manufacturing, or retail.
Before implementing
blockchain solutions in your organization make sure you are using the core
capabilities of the blockchain technology. You should respond positively to
four key questions, and there should be a real business case with measurable
results. If this is not the case, please consider using other more mellowed
technologies.
The
modification that businesses are planning to do in their processes is the doing
of a number of perceived benefits that they think Blockchain will bring in the
Enterprise ecosystem.
How
Blockchain fit in the Enterprise world
There are
various Blockchain uses in Enterprise ecosystem that is drawn to seamlessly
filling the gaps to solve enterprise problems. Here is the list of benefits
that Blockchain has offered to Enterprises:
1. Decentralization in a P2P Network
In an enterprise,
owners believed that everything from compliances to communication should be
done in a centralized way. However, by integration of decentralized mechanism,
usually referred to as the Blockchain of Things, in the enterprise
communication and compliance mix, enterprises could not only bring all the
communication in permission, cook-proof system but also give an outline to the
enterprise to function in a system that is unhackable.
2. Privacy
Data
theft has become very common in the Enterprise industry and still, mobile app
developers
are looking for solid solutions to secure mobile applications. The ever-growing
need for Internet security is now at its extreme point, therefore, developer’s
community started focusing on blockchain’s immutable ledgers, and it protects
blocks from manipulation so that data cannot be changed after they are
recorded.
With
immutable ledgers, users can store their personal data safely because of its
decentralized network. It all resides in the concept of the hash. If computer
jocks try to change anything in the block, its hash will change. And if hash
will no longer match with the previous hash, miners will detect the fraudulence
activity.
3. Improve Interoperability
Previously
connectivity between systems was the biggest problem of the technology but now
roadblocks are slightly getting sidelined. Tech companies are now coming up
with different ideas to establish a connection between ledgers. For example,
Ripple has launched an Inter-ledger, for the financial industry, it allows
users to store the aggregate transaction data off of a public Blockchain with
the help of a connector for transferring money between the private versions of
Ripple Network.
There are
various other inter-ledgers that are ready to be launched in 2019 to make
interoperability even much easier.
4. Throughput Time
Amount of
transactions per second is known as throughput time. A transaction happens on
Blockchain varies greatly between public and private Blockchain system. In
public Blockchain, the number of transactions is highly scalable and the need
to scale with respect to the nodes which can participate in a consensus
protocol is higher, the throughput time is lower.
But,
since Enterprise Blockchain functions exactly opposite of it, Blockchain mobile app developers are expected to keep the throughput time low.
5. Operational Cost
Most of
the Enterprise mobile app
development companies prefer working around an operational cost that is not just low
but also predictable. And so, it becomes essential that the Blockchain
enterprise app should work on a cost-effective platform which works on stable
and predictable transaction fees.
For an
enterprise mobile app development, operational cost depends on the set of the requirement need to
build a full-fledged app with Private and Public Blockchain platforms that are
devised around enterprise requirements and demands.
Summing up
Hope now
you are updated with how the Blockchain changing entire businesses and how the
enterprises are reacting to it.
Developing
and deploying a Blockchain solution in an organization can be tricky,
businesses cannot achieve success in it without the help of a team who excels
in it. Discover how Consagous Technology
can help you in building a Blockchain Enterprise ecosystem that can simplify
your business goals.
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