ESDS Knowledge Base


Why should companies use Blockchain?

Increased digital processing, rapid growth in cybercrimes and rise of bitcoin and cryptocurrency are the three reasons why Blockchain is increasingly becoming popular.  Let us see why companies need to use Blockchain.

a.Shield against cybercrime: Blockchain offers secure, shared and distributed database for transactions. This makes it difficult for hackers to alter the data, as the information is stored at several nodes.

b.A single source of truth: At a point when multiple parties wish to refer the data, Blockchain offers the same data to all due to a single shared ledger.

c.Safety: It helps the professionals to make sure the quality of their product is not compromised.

d.Customer-centric: Blockchain allows a direct connection between the company and customers, thus providing a better customer experience.

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