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How blockchain technology is revolutionizing the business

Over the past year, so much information on the subject of blockchain has accumulated, which, even with a great desire to understand and find useful for your business, is not possible without expert assistance.

This year, the theme of using blockchain is one of the loudest. This technology can be used in almost any field. But many experts talk about its work in a complex, not always understandable language, so entrepreneurs do not want to delve into details. Ivan Shkvarun, senior manager for work with the state and financial sectors of SAP in Belarus, says in simple words about the areas in which the blockchain helps to optimize business processes.

Blockchain technology was created relatively recently, but in importance, as it became clear, it is compared with the advent of the Internet. In simple terms, the block system is a distributed database that stores information about all transactions conducted. Records about this are not in any particular place, but are distributed among all participants of the system. These participants, in turn, automatically see on their computers each change made in the transaction.

Here are just a couple of examples of how blockchain in business can be applied:

Changing the payment system.

A simple example. Already in the framework of this conference – foreign participants can pay for tickets in the crypto currency. Further, the currency is converted on the exchange and comes into business in the form of the usual “wooden ruble”.

The ability to include in a single contract many options for the outcome of the interaction.

The technology of smart contracts¬† or “smart contracts” brings out the usefulness of the detachment beyond the financial industry. Smart contracts can be called – “programmed” or adaptable contracts. If certain conditions are met, they are settled on their basis, if others – the amount and terms of the contract change accordingly.

Protection of intellectual property.

You can also use this approach to control the use of intellectual property by determining how many times a user can access, share, or copy information.

What to expect?

Miracles will not happen.There will be an opportunity:

For 1 day to immerse yourself in the topic and get an understandable, professional education program in a topic in which only those who are close to the sphere of information technologies have figured out.

Ask the “masters” of the blockchain about their experience of mistakes and breakthroughs.

Visit Blockchain Startup Express – presentations of projects from those who adapt technology to real spheres of business, real estate, transportation, knowledge management, etc.

See new opportunities for your business.

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