Maximizing The Customer Experience By Using Blockchain Technology

It is amusing to know the number of ideas that exist today, because of the development of blockchain technology. From supply chain to smart contracts and cryptocurrency, blockchain has the capability to basically transform and ameliorate the way the business transactions are conducted currently.

Escaping The Buzz Around Blockchain  

In order to understand this technology and its full potential, and to see how the various organizations are making efforts to include blockchain into their organizational structure, it is important for us to look at what it is going to bring to the table.

This exceptional technology was created by Satoshi Nakamoto. He jump-started the development of this technology in 2008. But Satoshi Nakamoto is actually a pseudonym, no one really knows who Nakamoto is. He sent out a publication in a cryptography mailing list describing both the concepts of the technology and the most popular application based on this technology; cryptocurrency or also known as the cryptographic digital currency.

And since then there was no way to stop the expansion of this technology, into various forms of programs, techniques, and currency. There are still many applications to come. The concept behind this is to distribute the data across the network of computers, known as a node, instead of keeping the data centralized on a single or a couple of the company-owned systems or servers. This technique allows colossal redundancy and a drastic decrease in vulnerability. So whenever a change is made, it is transmitted to the complete network. And as a result, the entire network is updated.

What Are The Uses ?

Inculcating this technique makes it difficult for the attackers to infiltrate the data; provided that the data is distributed across all the systems present on the network. In order to make an unauthorized change, attackers would need to have an access to the processing power of all the systems or nodes on the network, and it can include a gargantuan number of devices. No single entry point can be used to access the complete data in case of a decentralized model. With the infusion of high-level security and cryptographic technology, blockchain is poised to reshape the sporadic way in which data is distributed.

What are the different fields, blockchain can be implied in? How does it work?

This technology has turned out to be a holy grail for a huge number of business applications. But finance is the first sector in which this technology has made an impact. Banks have already announced huge partnerships with multiple tech companies, for creating smart contracts, distributed ledgers, and redundant banking applications. The reason behind introducing blockchain technology is to make the users feel safer about their money.

In addition to the finance industry, blockchain is showing promise in various fields, for example, IoT, audit, insurance, digital voting, tax automation, medical reporting, and much more. Apart from making the complex process more automated, it can also drastically decrease the operational cost and the streamlined business process as well.

How Could Blockchain impact The User Experience?

Blockchain has multiple applications for computing. Most of the possible applications have not been identified yet. Predicting blockchain’s future would be like attempting to predict how a movie would do based on the first day of its release. Despite the uncertainty, there are many projects in progress, that are incorporating this technology into new and existing company’s IT infrastructure. Others are defining a new method to use this technology, and that is customer experience (CX).

It can create business transparency. Now since it depends on the visibility of the transferred data, this feature can be leveraged in order to inculcate the trust among the users. Practicing this technique can create improved CX and brand loyalty. For example, a company that has a portal based on blockchain, which users can view any particular time in order to see how their business is doing, improves their faith in the company.

Conclusion

For now, multiple sectors like finance, healthcare, and much more are using this technology. It is just a matter of time before multiple industries or organizations, start using and investing in this evolving technology, for different tasks like ameliorating the customer experience, automating the manual tasks, and for decreasing the additional cost and reducing the productivity.

There are huge chances that blockchain may evolve through different paths, and hence become an important part of the day to day activities. But for that, it is important to connect to a company that can convert your vision into reality, and that is none other than, Techugo.

Its a leading application development that thrives to design mobile and web applications, by using the latest emerging technologies like blockchain. For more information, get in touch!

Blockchain Technology Helps Your Business To Maximize Productivity

Talk about the convenience technology has brought in our lives, then suddenly one name which strikes in our mind, is through mobile apps only. These days we find everything connected to the internet like our cars, mobile phones, and home appliances etc. and that is the internet of things, all the electronic gadgets we can control with the help of the internet, we can give commands to the machines.

But, that’s not the only technology that is making an impact in our lives.

The other one is blockchain, it makes our data safer and secure.

When all our data is present online today it becomes our utmost concern of its security and with blockchain in our lives, we can sleep peacefully, knowing that our data over the internet is going to be secured in tight security.

So, moving further lets us see what are the benefits we can get with these two technologies being in our lives.

The Blockchain is such one technology that provides the users high security by providing the users and the service providers to connect directly without any third-party intervention. Also, the whole process is being securely encrypted as the cryptocurrencies.

Blockchain can enrich the apps with numerous mind blowing advantages. The USP of this technology is that it has eliminated the uses of any third party or intermediaries in the process. Reinforcement, reliance and high level of security are the key factors that draw the attention of the users toward it. It also builds up the confidence amongst the organizations while performing any transaction. Although Blockchain technology still has to cover miles of distance to reach in every sphere of the world but its usability is unquestionable…

• Data Storing With An Ease
• The Protection Of Copyrights
• Assist For Open-Source Projects
• Opening A Door To Endless Opportunities

Blockchain and VR are the pioneers of the technology and have already created a stir in the market, leaving a trail of a different set of imagination and the creativity to be experienced.

To get your mobile app developed with the integration of the latest technology, you must contact a leading mobile app development company none other Techugo, which holds the expertise in developing scalable app solutions for different businesses and the industries, and helping them to gain their deserving recognition in no time.

However there is a lot to be improved and technically created to make our future bright, but as of now you can now take the delight of future of the innovation with VR and Blockchain enabled mobile apps for your business, by get in touch with Techugo.