How Blockchain technology a savior for varied industries?
Do you need to maintain transparent and immutable records? If you are nodding your head for yes, blockchain technology can make it happen. And this is why the technology is being largely used by the companies offering financial services. The platform verifies the transactions instantly and keeps them safe from tampering and fraud.
Not only financial sector, blockchain technology also proves to be helpful for healthcare and e-commerce field. Among all other blockchain-driven technologies, smart contracts and cryptocurrencies are found useful even for non-tech businesses.
E-commerce sector and Blockchain
E-commerce companies make use of crypto currencies for payments so that there is no need for costly payment processors and merchant services. Believe it or not, merchants can simply use smart contracts and fulfill orders automatically like the delivery of digital goods. Users find it beneficial for long-term and repeat engagements especially during business-to-business transactions. And more complex application also provide secured supply chains.
A savior for pharmaceutical industry
The technology appears to be a savior for pharmaceutical industry. The systems help in tracking and tracing prescription medicines. It provides secured supply chain and eliminates theft and tampering of raw materials with no circulation of fake drugs.
Boost up efficiency and savings
With this technology, it becomes possible to handle tasks like record-keeping and cash flow under one platform. Consolidating tasks and automating them helps to streamline business operations with great efficiency.
Brings cost-savvy approach
The technology allows businesses to save on costs. They can use smart contracts and crypto currencies. Smart contract platform eliminate functions need to be performed by intermediaries like banks, escrow services and legal services.
It is to note that blockchain and smart contracts let companies create ecosystems that support business processes. Not just the efficiency through automation, the technology also provides trust to the operation.
Overall, Gallactic is a scalable, high-speed blockchain which executes the next generation of smart contracts and Dapps of the future. For more information, you can follow us on Facebook.
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