Why is blockchain a game changer for enterprises?
Blockchain is being actively adopted by finance, retail, insurance, and other industries as it helps to achieve well established workflows through simplifying record / identity management, transaction processing, goods provenance / traceability, etc.
Tying in with the concept of digital transformation, the blockchain technology brings along the following improvements:
- Automation. With digitalization of manual processes, blockchain offers simplicity and reduces transaction time.
- Full control over the data exchanged and transactions made.
- Transparency. All the changes introduced to blockchain can be tracked by all the parties involved
- Immutability. Transactions can not be altered or deleted.
- Disintermediation. By excluding a third-party, blockchain allows for minimizing or eliminating the counterparty risks.
- Lower costs. Due to the removal of intermediaries and overhead costs for exchanging assets, one can save on transaction time and related fees.
Blockchain expertise at Altoros
Having extensive experience in developing enterprise-grade blockchain-based apps, Altoros provides a range of services to aid organizations in blockchain adoption.
- Production-grade application developed
- Performance benchmark of scalability
- Custom smart contracts specific to the target use case
- Tips and recommendations
- Exploring the concepts and use cases of permissioned blockchains.
- Getting familiar with architecture of Fabric 1.0, setting up a network, and running smart contracts.
- Building a fully featured blockchain application for bond issuance