Blockchain refers to an open distributed public ledger that is capable of recording transactions between parties in a verifiable and permanent manner. It is typically managed by a peer-to-peer network that collectively adheres to a protocol for inter-node communication and validates new blocks. Once a block of transactions is added to the blockchain its data can not be altered by anyone in the network.

The term Blockchain is often used interchangeably to describe both the blockchain network (network of nodes) and the distributed ledger (chain of blocks)

Blockchain Features

Durable and
Robust
Incorruptible
Distributed and
Secure

Business today is complex and more are the chances of errors, frauds and inefficiencies that creep in the same owing to maintenance of multiple ledgers therein. The reliance on internediaries for verification can delay the business processes and create losses for businesses.

Not anymore !

Blockchain, a symbol of reliance and reliability, is the technology that has completely transformed the way transaction is done. The technology of Blockchain is a see-through and dependable system that helps the businesses in making a secure exchange of value & assets, imposing contracts, and sharing data. Owing to the shared and protected ledger of transactions disseminated among a network of computers instead of residing with an individual provider, businesses are now utilizing Blockchain technology as a common data layer to empower a new class of applications.

Business benefits of blockchain

Multiply
Business Value
Reduce Risks
Minimise Transaction
Costs

From its original use for encrypting and verifying financial transactions that resulted from people getting paid for contributing processing power for solving complex mathematical and scientific puzzles, blockchain has come a long way. It now serves as the de facto method for storing critical data incorruptibly for organizations in very diverse industries, some of which were not initially within the ambit of digital technologies, like real estate records and smart contracts enforcement.

Blockchain coupled with cutting-edge technologies like data analytics, IOT, Artificial intelligence and applied intelligence can lead to reduced costs, higher efficiencies and help improve productivity and quality.

Being a business owner, it is quite natural if you are not reliant on how secure your Blockchain is. Because of the absence of a centralized management body and presence of varied security standards, businesses often make mistakes in diagnosing the security protocols, standards, and processes that should be applied for the safe implementation of Blockchain technology.

Cyfuture, a trusted name in offering Blockchain services, ensures to weed off waste, trim the risk of fraud, and develop new revenue streams for your business. We understand and identify the tremendous possibilities for Blockchain technology today and hence we strive to aid businesses through our tactical and executional proficiency. With our services, your business can have a coherent Blockchain roadmap, enterprise integration of executed projects, and POCs/pilot on a user-friendly dais. Our strength in other technologies combined with blockchain helps augment business value.

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