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Blockchain

Blockchain

Sounds like a child’s toy. What it really represents is a powerful idea and
tool for more secure and transparent transactions.

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:

  • each operation contains the data about all previous
    operations and is visible to all peers
  • every operation should be approved by other peers (all
    or part of them)

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.

Blockchain
Finance
Revolutions in payments and beyond
Blockchain may have had its origins with the goal of creating new forms of currencies, but this increasingly useful technique is now being re-purposed across the whole FinTech ecosystem. Securing payments, creating auditable transaction history among many parties, and eliminating a variety of redundant steps are just some of the benefits blockchain can bring to financial solutions.
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Blockchain
Recordkeeping
Dropping risks and approvals to 0
Properly implemented blockchain solutions are both secure and immutable. Since you can add to a Blockchain, but not change the past you have a wonderfully auditable transaction trail. Private blockchains can add governance models making sure that only the right people have access to sensitive information. Let Rails Reactor help you define your new recordkeeping strategy.
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Blockchain
Organizations and Governments
Enabling Economies of Trust
With Smart Contracts, Blockchain technology represents opportunities for settlement of new types of economic and business relationships. Being a digital extension of traditional contract concepts, Smart Contracts may automatically take care of brokerage, banking, legal, and similar needs, while traditional contracts simply set terms. Besides business entities, Smart Contracts are applicable for government-citizen relationships. Discover more with Rails Reactor.
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Blockchain development services

with Rails Reactor software house

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,