Take Your Business to the Next Level using Blockchain as a Service

Learn what blockchain technology is and what are the advantages of using Blockchain as a service in order to take your business to the next level?

Blockchain is undeniably one of the greatest technological revolutions of the decade. However, it’s just now making its way into the business sector.

If you haven’t heard of the blockchain, then you must have been living under a rock for the past three years.

Most people think of Bitcoin when they hear blockchain, but it actually goes far deeper than that. It’s a network system that offers a whole host of benefits that companies large and small are eager to jump on.

blockchain as a service

Before we get into discussing what are the benefits of blockchain and how blockchain can be used as a service, let’s take a minute to give you an overview of what blockchain technology actually is.

What is Blockchain?

At the most basic level, Blockchain is a digital ledger that keeps track of transactions in a decentralized manner. That means that every piece of data transferred or currency exchanged is hard-stamped into a small block of data.

The record of this transaction is then sent all across the blockchain, verified, and then stored across the entire chain.

Since the information is “decentralized” it can’t be hacked, manipulated, or deleted. For that to happen, a whole army of hackers would have to target each node of the blockchain and go through deep encryption layers. It’s next to impossible.

In addition to decentralizing data and keeping public records public, blockchain is now faster than ever and creates a great way to split data storage, keep it secure, and increase networking speed.

Blockchain as a Service

Blockchain has been around for a while in the form of platforms such as Bitcoin or Ethereum. Traditionally these were used for the purposes of currency transfer or building DApps (decentralized apps). They served more as a platform for geeks to spend money and network on.

Now, however, businesses all over the world are beginning to see the immense advantages of implementing blockchain into their existing system.

Up until now, though, if you wanted to use a blockchain for business, you would have to build your own. The amount of time and resources which that would take are huge.

Today, large companies such as Microsoft and Amazon are on their way to creating a cloud-based blockchain service. It would work very similar to the way that their existing cloud business solutions work, but instead of just offering access to traditional cloud storage, they would offer access to their vast blockchain network.

Advantages of Using Blockchain as a Service

Now, let’s take a look at some of the most popular advantages that businesses could gain from using blockchain as a service:

Increased Security: Since all of the data on the blockchain is decentralized, hackers can’t target one central location and steal your information. It’s impossible for them to hack every node in the blockchain. This means that everything that you store on the blockchain from important medical and tax documents to receipts and transactions are safe and secure.

Low-Cost Technology: Blockchain as a service prevents companies from having to build their own blockchain. They can just pay a monthly or annual fee to use a pre-existing network.

Cutting-Edge Software: Every month, new software is developed to work with blockchain. Businesses could begin to implement this software in their IT department.

It’s On The Rise…

While the use of blockchain as a service is a fairly new idea, it won’t be long before most of the business world starts to adapt to it. In the next two years, more and more services will arise and the increased competition is sure to keep prices low and keep the technology evolving at a faster speed than ever.

Feel free to let us know your view regarding blockchain technology and taking your business to the next level using blockchain as a service.