The new technological revolution: Blockchain

The new technological revolution: Blockchain

The blockchain is one of the greatest technological innovations for the decentralization of relations between Internet users. Its greater public relevance has been given by the great media exposure of cryptocurrencies, especially bitcoin. Bitcoin is blockchain but blockchain is not just bitcoin. Although the general public has not yet learned all the benefits of this technology, it is possibly one of the greatest advances in commercial relations and security in recent years.

Platforms such as IOU™ of the company IOU Global, LTD will achieve customer loyalty through blockchain. This platform connects traders and consumers as equals in the exchange of products, achieving transparency, security and greater competitiveness for sales. This is because everyone will be able to see the different offers which adjusts the price much more to its real value.

The advent of this technology empowers the user by giving him great control over the exchanges. Any exchange via the Internet can be carried out using this technology with great advantages, such as those mentioned above: Security, transparency, greater competitiveness and efficiency in transactions. Furthermore, it is a method that is developed on a global level, without interferences, giving the whole control to the interested parties and with the maximum security.

The company Digilant has carried out a study on the implementation of the blockchain, discovering the five main focuses that attract the attention of the brands. This study shows that the majority of companies (85%) are still waiting for further development of blockchain to see how it can affect them in practice, while remaining cautious. Another part of the companies are related in some way to the blockchain, through the development of projects or other means and only 1% already use the blockchain in a complete way, accepting payments in cryptocurrencies, etc.

According to Digilant the five aspects of blockchain that concern companies are:

  • Adaptation costs: Traders do not know exactly how much it will cost to adapt to the blockchain system.
  • Power of the users: In blockchain it is the user who has total control of his or her data, who decides which data he or she gives, to whom and with what interest, so that brands wishing to sell a product must search for user profiles and not use data linked to Apps or similar systems.
  • Doubts about fraud: Fraud in e-commerce is mainly caused by the misuse of advertising. This support provides information about how many times an ad has been seen, what kind of profiles have seen it, etc. Solving many of the problems of classical marketing.
  • Security breaches: Although this is one of the great advantages of blockchain, there are still companies that doubt that this technology cannot be decrypted, especially because they believe that its rapid growth may have left some weaknesses in their system.
  • Disintermediation: Intermediaries are reduced, which results in great savings in the costs they incur in traditional exchanges.

The blockchain works as a great register gathering all the exchanges that take place in the block chains giving agility, veracity and efficiency to the changes

 

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