Join 74,314 users and earn money for participation
read.cash is a platform where you could earn money (total earned by users so far: $ 512,226.23).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
Oftentimes a lot of individuals think aside from blockchain technology in cryptocurrency, the next place you can apply this smart technology is in the Fintech business alone. But, in all honesty, I would love to tell you that blockchain technology can be completely employed in your business and organizations for the execution of a lot of tasks both finance and non-finance-related tasks.
Blockchain technology in our contemporary times is rapidly eradicating some ancient ways of handling financial matters. Today blockchain technology is suddenly becoming an alternative to traditional currency, centralized banking, and transaction methods that have made a strong impact on the system of handling financial transactions today.
In short, blockchain is a distributed ledger that maintains a continuously growing list of every transaction across every network distributed over tens of thousands of computers. This makes it almost impossible to hack, changing the way banking is done.
With the unique features of the technology, a lot of both small, medium, and large scale businesses are adapting to the activities of the technology in the following ways;
Businesses and organizations do a lot of storage work. From information to transactions history storage. The implication of employing blockchain technology is that it helps in carrying out cloud storage of information and data.
Cloud storage is a model of computer data storage in which the digital data is stored in logical pools, said to be on "the cloud". The physical storage spans multiple servers (sometimes in multiple locations), and the physical environment is typically owned and managed by a hosting company. These cloud storage providers are responsible for keeping the data available and accessible, and the physical environment secured, protected, and running– says Wikipedia.
With the implementation of blockchain technology into business today, data and files can be stored and received anytime you need them– Thanks to blockchain technology.
Records tracking is the component of a records management system that ensures that you can locate records when you need to use them. Accurate recording and knowledge of the whereabouts of all paper records are essential if the information they contain is to be located quickly and efficiently.
Record keeping is an essential element of management. This activity is done more actively with the use of blockchain technology. Data can be recorded and retrieved any time you want them. One unique feature of this technology is that it does not make for data manipulations.
The world is obviously going very digital in all ramifications. If your company is regularly involved in international transactions and business, implementing the blockchain technology into the business wouldn't be difficult thus making payments in Bitcoin as a lot of companies accept Bitcoin as a medium of exchange of value. Today in some countries like El Salvador, Bitcoin, and other cryptocurrencies have been legally accepted as legal tender.
It is, even more, cost-effective to make payments with Bitcoin than making payments with the regular fiat currency.
It is ideal for companies that make payments to international workers to do such using a block as it could serve as a cost saver to both employer and employee.
Bitwage’s founder and COO, Jonathan Chester says that by using a public ledger of all transactions in chronological order
you can see exactly where the money is throughout the process.”
It is the blockchain technology that gave birth to what we refer to as smart contracts today. Even Though the term Smart contract has been used in the past, in 1993. Today,.and especially since the 2013 project that brought about what we refer to as the Ethereum Smart contract.
The Ethereum project was a decentralized platform that runs smart contracts applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.”