Taguatinga, Brasilia, Brazil

Blockchain Technology and the Industrial Sector

Since globalization, a lot in the industry service has been made faster than we once thought. Is a fact that the world is running fast, but not as fast it could. Like any other business, the service industry as a whole is trying to keep up with the actualities but there is some issue that holds back its progression.

When we talk about blockchain we essentially come to the fact that this new technology can make virtual interaction more fast and reliable. If the service requires highly-qualified staff, for example, the distributed ledger will, due to the ability to make easier to check education, skills, work experience and much more, facilitate finding a good employer.

Besides, as the decentralized system allows sharing information promptly, the technology will provide communication between department and managers in a rapidly distributed way between the nodes. It means that information stored in a Blockchain will not be changed and at the same time, you will be able to see what business processes are going through. Will give a solution for delays in communication between links.

Furthermore, decentralization will bring more transparency and credibility in the e-commerce, so you will have the guarantee that you won’t get involved with a fraudster. That fact comes from the possibility of making all the processes see-through everybody. Smart contracts will make sure you receive money or goods/services with no third party involved – a great breakthrough for free trade.

In addition to, it can increase trust between clients and insurance companies, showing as a possible solution for high prices and low efficiency discourage consumers. Codes will be automatically executed if an incident happens. Authenticity verification is one of the biggest problems in the field. Using decentralized register, manufactures, customers, and others can see all the background of the product, even check if was stolen or is a counterfeit.

Trust will come for the e-commerce as well. As the trade is made from a different part of the world you cannot see a consumer or a seller. So, the decentralization will bring transparency, credibility, fast transactions and low fees. Blockchain will make all the processes see-through to everybody. The smart contract will make sure you will receive what you bought or sold.

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