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Sunday, November 5, 2017

Blockchain News: How Blockchain is Taking Over Business Systems

How Blockchain is Taking Over Business Systems

Blockchain technology is increasingly moving into the business realm, with a large number of new technology applications being released. Because of the complexity of processes in legacy systems, and the relative simplicity of Blockchain technology in producing the same results, companies are flocking to meet the burgeoning need.

Further, the rise of smart contracts has produced the ability for B2B agreements to be drawn, ratified, and settled in near real time without the hassle of lengthy time delays. Smart contracts allow businesses to interact, place and fill orders, and even manage payments upon delivery, all from a single source, and with a simple wifi connection.

Of course, the rise of smart contracts has led to a huge demand for Blockchain technology-proficient programmers, as evidenced by the bump in job demand on some platforms. However, better UI systems are coming online to offer the same functionality, but with low technical entry barriers.

The basis of Blockchain technology is the foundational principle of transparency. This underlying core principle - that the distributed ledger is transparent - drives newfound levels of efficiency for businesses willing to utilize the platform.


Full story at http://bit.ly/2iwwJwl


Source: CoinTelegraph


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