How Blockchain revolutionizing business communication networks


How Blockchain revolutionizing business communication networks


Blockchain bolds the Banking and IT Sector at another level


In the age of digitalization to thrive your competitors, you need to work on your customer satisfaction and effective communication network. Blockchain Technology is revolutionizing for different businesses & industries including finance, Health Care, Education, manufacturing and telecommunication and already made their adoption as a very critical priority. 

According to a surveyby Deloitte 53% of the fintech companies believe that Blockchain became the vital for their organization. 

According to the PWC 2018 they confirm that 84% of the companies including Global companies like Amazon Facebook already plan to adopt the Blockchain technology and it will became the widespread over the next some years.

Blockchain is a ledger distributed Technology launched in 2009. This ledger record make transactions arrange in blocks and Create blocks together to offer records for traceability, it is also known as technology backed cryptocurrency used to validate transfers and receipt of these assets. 

Apart from traceability it have more benefits like decentralization, security, immutability, data security and more.

Inability to monitor company interactions, companies do have to connect with clients, creditors, vendors, and associates much as communicating with workers internally.


This makes it important for them both internally and externally to keep a real-time monitor on all communications to ensure a balance between them. When a voicemail is skipped or an email is misinterpreted, something else may turn into a mayhem.



Decentralization

It is noted that Blockchain is not controlled by a single person or an organisation while it is decentralized into the ledger form where blocks are created as information source and stored across the network means if a single node is goes down it will make other nodes not disturb and cash transactions which are missed.
Apart from that there is no Central control of any organization or any government which controls Blockchain in any way, No any Central Bank or higher authority can influence the use for adoption of Blockchain Technology it is due to its decentralized nature for business. It is one of a P2P source for not replying for any Central authority.

Security

Importance of security for business in the field of Blockchain ensures you that your records are not susceptible to any attack nonetheless Blockchain is a secure platform for storing your private information and with the help of cryptographic techniques encrypted keys are only control by the nod authorizer and is not able to pertain by any hackers.

Privacy

Blockchain is open and acceptable for anyone. Its permission and production also ensures that sensitive information is kept away from public and the data is encrypted and except after permission been granted by the mood authorizer while a private permission Blockchain needs an owner or management approval to be added on any specific network to get access to respective data.

Transparency

Blockchain offers an immutable nature for Data integrity since its content is not changed easily business persons have more trust on its transparency and legitimacy of transfers as they can monitor it anytime.

Traceability

As already define Blockchain content is used in real time and is offered imaginary benefits for the business owners. Its content is accurate at all time and several participants can have the same information irrespective of their excesses which enables large Enterprises to communicate and co-ordinate supply chain and logistics information very simply.

Due to the development in Blockchain technology, it transform the business communication network in more ways than it happen. 
The distributed ledger Technology includes decentralization, immutability, security, privacy, traceability and improve the entire business communication and relation factors for business owners to have more options in front of Management team to initiate a next level of transformation into their business.


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  1. It is really a great work and the way in which you are sharing the knowledge is excellent.Thanks for your informative article
    Blockchain Technology

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