Blockchain Development

WHY DO ENTERPRISES NEED TO USE BLOCKCHAIN IN MANAGEMENT?

Blockchain technology will open up a potential application trend for many areas such as banking & finance, retail, transportation, manufacturing and telecommunications. Applying Blockchain to our lives will benefit the community and the whole society.

• For Production

Applying Blockchain’s inexpensive and non-destructive characteristics to the manufacturing industry will help consumers trace the origin of products.

For the manufacturers, they can record and store the total quantity of products sold in the market and the amount of products left in stock.

• For the Medical field

At hospitals, all the results of patient’s health checks can be stored using Blockchain technology, thus keeping all information in one secure place. In addition, it helps people reduce the cost of testing again when visiting other hospitals as well as helping to trace the history of treatment process or the side effects of previous drugs. This will help to diagnose patients better.

• For Education

Applying Blockchain technology in education helps to manage the certificates and qualifications of universities in general or vocational training institutions in particular. It helps to verify student profiles as well as make it easy for employers to track down candidates’ learning progress over time.

• For the Financial sector

The blockchain-based peer-to-peer money transfer program is part of the effort to provide cost-effective and high-security financial services. This is why many large banks are being pushed out by smaller rivals. Blockchain is being considered as a way to cut costs and time in interbank transactions.

• For E-commerce

With Blockchain technology, enterprises can take advantage of signing smart contracts and offering convenient payment solutions. Thanks to that, it is easy to do business and cooperate with many domestic and foreign companies with a time-saving and simpler procedure.