Blockchain Solutions
Is a type of technology that records transactions to a digital ledger where they cannot be changed or altered. These records or blocks of information are linked using cryptography. Blockchain applications provide a wide variety of solutions you need to improve your business.
Project Objective: Blockchain technology is most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset.
Price Starts: Php 20,000
Blockchain Capable:
- Decentralized Technology
- Distributed Ledgers
- Fast Settlement
- Consensus
- Enhanced Security
- Cannot Corrupt Data
Features
Decentralized Technology
Refers to the transfer of control and decision-making from a centralized entity (individual, organization, or group thereof) to a distributed network.
Distributed Ledgers
Is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people.
Fast Settlement
This way a user can transfer money relatively faster, which saves a lot of time in the long run.
Consensus
A method of authenticating and validating a value or transaction on a Blockchain or a distributed ledger without the need to trust or rely on a central authority
High Security
It’s based on principles of cryptography, decentralization and consensus, which ensure trust in transactions
Cannot Corrupt data
Once the transaction daIta in a block is recorded, it cannot be altered
Benefits of Blockchain System
1.Better Transparency
A blockchain consists of peers who are responsible for carrying out transactions and validating them. Not every peer takes part in the consensus method, but they are free to choose if they want to participate in the validation process. To provide validation through decentralization, the consensus method is used. Once validated, each node keeps a copy of the transaction record. This way, the blockchain network handle transparency.
2.Enhanced Security
Blockchain technology utilizes advanced security compared to other platforms or record-keeping systems. Any transactions that are ever recorded needs to be agreed upon according to the consensus method. Also, each transaction is encrypted and has a proper link to the old transaction using a hashing method.
3.Reduced Cost
Right now, businesses spend a lot of money to improve to manage their current system. That’s why they want to reduce cost and divert the money into building something new or improving current processes.
By using blockchain, organizations can bring down a lot of costs associated with 3rd party vendors. As blockchain has no inherited centralized player, there is no need to pay for any vendor costs. On top of that, there is less interaction needed when it comes to validating a transaction, further removing the need to spend money or time to do basic stuff.
4.True Traceability
With blockchain, companies can focus on creating a supply chain that works with both vendors and suppliers. In the traditional supply chain, it is hard to trace items that can lead to multiple problems, including theft, counterfeit, and loss of goods.
With blockchain, the supply chain becomes more transparent than ever. It enables every party to trace the goods and ensure that it is not being replaced or misused during the supply chain process. Organizations can also make the most out of blockchain traceability by implementing it in-house.
5.Improved Speed and Highly Efficient
The last industrial benefit that blockchain brings is improved efficiency and speed. Blockchain solves the time-consuming process and automates them to maximize efficiency. It also eradicates human-based errors with the help of automation.
The digital ledger makes everything this possible by providing a single place to store transactions. The streamlining and automation of processes also mean that everything becomes highly efficient and fast.
Timeline:
Once all the asset are ready given by the client, We can finished the system in 2 Weeks at most 6 Weeks.
Interested?:
Give us a call at 09451600366 or email us on ceo@geer.solutions