7 Little-known Business Uses for Blockchain Technology

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7 Little-known Business Uses for Blockchain
Technology

• The new technological advancement has given rise
  to a more secure way of transactions which is
  known as blockchain. It utilizes a strong digital
  database which is impossible to hack or
  replicate. The transaction is mainly done in a
  chain form and all information is not financial.
  Blockchain can also be used for disseminating and
  recording data. If you want to know how
  effectively you can use it, here is an article.
• Business Uses
• Business Agreements
• At the point when blockchain is utilized to
  secure data in an agreement, it can't be changed
  in any capacity. This could be a noteworthy
  point for businesses as it helps to manage many
• agreements at any given time. Even if there are
  other businesses in a chain, it allows them to
  receive the data they need keeping the other
  firms information confidential.
• Universal Transactions
• The encryption in blockchain makes it perfect for
  monetary transactions worldwide. Payments and
  exchanges will be faster and at a decreased cost
  via blockchain technology. Moreover, banks or
  third party would not be important to deal with
  the exchanges.

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• Review
• Since data is fundamentally unalterable in a
  blockchain, it can make reviewing process easy.
  The process of internal audit can also speed up.
  More accurate information from the database
• which is simple to discover making the process
  fast and easy.
• Crisis Management
• Even during the time of crisis, it can make the
  process of problem tracking much easier.
• Within few minutes you can review your digital
  data and get to understand the root of any
  fault.
• Insurance Claims
• Be it liability insurance to cover accidents or
  workers compensation insurance, using
• blockchain for claims filling promises accurate
  and fast return of the payments. Companies today
  mostly carry more than one type of insurance, so
  using blockchain allows fast settlement and
  prevent duplicity.
• Taxes
• Blockchain can prevent the human error and change
  the whole scenario. Not lot of people are
  confident of preparing taxes and this can be well
  managed by utilizing blockchain technology.
• Car and Land Registry
• When a purchaser looks to buy a land or car, he
  or she must secure the title and have the lawful
  owners signature. The blockchain technology
  could serve as the basis for a more
• reliable, cost-effective and efficient car or
  land registration. It will also speed up the
  process
• hence one can receive the handover much faster.

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