Why Should We Be Using Blockchain?
Leading UK banner company, Ultimate Banners, says that there are a few good reasons to make the move to blockchain and, these include:
Fast and Secure Financial Transactions
Transferring payments from one person or organization to another can be done within seconds using blockchain and, by design, blockchain is one of the most secure transfer systems available today.
Supply Chain Monitoring
Using blockchain, businesses can quickly and efficiently pinpoint inefficiencies in their systems without the need for paper trails. Blockchain for the supply chain can also allow for the location of items in real-time, saving valuable time and hassle for busy companies.
Retail Loyalty Programs
Blockchain could very well be the next step for retailers looking to incentivize their customers. Loyalty or reward programs are big news for shoppers and, retailers are constantly looking for ways to improve on these. As well as eliminating paper and cards, blockchain’s security could drastically reduce fraud within loyalty programs.
Better Control of Digital ID
Microsoft is already working on creating digital IDs through its Authenticator App and, blockchain could help greatly in improving the security of this innovation worldwide. As we move into 2020, digital ID, including facial recognition, is becoming ever more important for personal and national security and blockchain may well be the missing link here.
Data Sharing
Many people in the know feel that blockchain could be used in data management by effectively becoming an intermediary for storage and sharing; allowing for storage of large amounts of data and better control for owners. You may not be convinced but, the general feeling is that blockchain is very much here to stay and that the days of cash and cards are numbered.
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