Most probably, when you think of Blockchain, you think of cryptocurrencies such as the popular Bitcoin. Indeed, the hype around cryptocurrencies has popularized Blockchain as a technology. However, blockchain provides numerous opportunities to other industries in addition to finance.
Put simply, Blockchain is a set of mathematical rules and dependencies with 2 unique criteria:
This way, Blockchain provides the highest level of transparency and security to processes with multiple participants.
One popular use of Blockchain is for something called “smart contracts.” It’s like signing a contract with your partner and with many attorneys, only Blockchain does so using a variety of mathematical tools.
Imagine the entire real estate market based on Blockchain. Buying a home is as easy as when you transact with other simpler processes like banking. You choose the one you like, check the entire history of the residence, including all previous transactions and then you purchase. There might not even be any brokers, banks or lawyers involved. Or when they are, all the processes will be greatly simplified. Easy, fast, transparent, and much less expensive.
Imagine logistics without customs controls, imagine money transfers without banks, imagine your entire health history available at any point on the globe, and yet still under your control. Imagine… Well, no matter what you imagine with Blockchain - Rails Reactor is here to make it real.
If you yourself are considering how to effectively use
Blockchain for creating business value, speeding up
settlement processes, securing transactions or otherwise
accomplishing your goals,