The main distinguishing features of blockchain
- Consistency – all data included in the blockchain databases do not conflict;
- Immutability – the information is registered in all blocks compiling the chains, and they oppose any attempt of changing;
- Decentralization – blockchain does not have any main servers, data fragments are evenly distributed between numerous machines.
Blockchain is a technology applicable in many cases. It is possible to create both the desktop software and mobile apps using this functionality.
The main item of the modern blockchain is a smart-contract – a specific algorithm that can optimize and automatize transactions in many areas, including finance, media, education, analytics, etc.
However, the main scopes of the blockchain technology are large registries and those circumstances where the parties lack mutual trust. You can turn to blockchain in such cases as:
- If you have any doubts in the data safety guaranty;
- If you need solid evidence that proves any events taking place;
- If you need to avoid using centralized systems and need to remove the single entry-point;
- If you need to make sure that the information can’t be changed by anyone.
Business Areas of Usage the Blockchain Technology
Cryptocurrencies gave birth to this technology, and they remain in the focus. But blockchain is used more in other spheres now.
Finance and credit. The pros of this technology are:
- Better safety;
- Cheaper prices;
- Faster performance due to the absence of any mediation;
- The possibility to integrate the payment procedure supported by blockchain with the production processes or logistics.
Internet of Things. Blockchain technology provides the following advantages:
- The possibility to remove the “human interface” from the exchange process and allow direct communication between the machines;
- Much more conceivable business models;
- Higher productivity and profitability.
Medicine. Blockchain is very popular in this sphere due to the following possibilities it creates:
- Transparent databases which allow tracking all medical supplies origin;
- Security guaranties for the medical records;
- Assuring that all new entries or amendments to the medical data are transparent, and all specialists will have the most up-to-date and correct information.
Property law. In this aspect the technology is both applicable to the physical property and intellectual property:
- It saves records of the transfer of rights between the parties, these data can’t be forged or changed;
- The possibility to check the data authenticity by all participants;
- Smart-contracts can determine all cases of usage of the property;
Real estate. Blockchain technology will help with the following aspects:
- Automatizing the rent contracts – there is an opportunity to simplify all processes associated with personal agreements and meetings;
- Optimization of the search processes;
- Managing the cash flows of the real estate agencies.
Logistics. The processes include transportation, keeping, and the delivery of the material things, altogether making this sphere one of the most complex in the world. Blockchain can resolve the following tasks:
- Tracking each item in the process of delivery;
- Tracking the origin of any item;
- Managing all necessary transactions that take place for the supply chains.
Government. More than 100 states of the world research the possibility of using the blockchain technologies for the large governmental project, including the following:
- Land registries;
- Identification of citizens and non-citizens with their rights and privileges;
- Electronic voting.
How we create blockchain products on request
Either you can request the blockchain-based project, or we can embody your idea with the help of this technology if it suits the goal best of all.
- We run separate research on the task to identify the best suitable methods;
- We consult you on pros and cons of the technology as applied to your demand;
- Our team includes experts on both smart contracts and additional services which are needed to manage smart contracts;
- There are separate teams to work on the backend databases and the UI;
- We test the product compatibility with other technologies and target platforms;
- We provide full documentation for future reference.
Blockchain projects developed by our team
Heymate is a service, a platform, and a mobile app that allows participants creating their business offers and making deals online. The service will manage payments, insurances, distribution, loans, etc.