Blockchain and the App Industry

We hear “Blockchain” all the time as the technology tracking business processes. Most major Fortune 500 companies have explored their technology, but how could Blockchain have an effect on the development of your company’s mobile app?

Blockchain,broken down, is the technology tracking every transaction, creating a “block” with a timestamp keeping records that anyone can view, but no one person can alter. This ensures that business operations are kept honest and legitimate without interference from a third party, explaining why most Fortune 500 companies and other businesses around the world use the technology for the high levels of security and confidentiality they offer.

Logically, Blockchain can play a huge role in financial transaction technology, such as Bitcoin. Many new mobile apps being launched in our modern world use technologies like Bitcoin, or something similar. This is where utilizing Blockchain comes in. Many marketplace apps are now being created, promoting social payments by means of bitcoin and digital transactions. This enables users to buy and sell goods with each purchase monitored and driven by Blockchain, tracking each exchange while securing the actual contents (money) within the exchange. In gaining recognition for its benefits, it has even been announced that iOS will now allow blockchain payment, further promoting social payment systems through mobile apps.

The reach of Blockchain technology has already extended into a vast variety of industries, but for those mobile developers who have yet to catch word, the benefits Blockchain offers are not something to overlook when creating your company’s app. This technology is the future of digital marketplaces, granting you higher degrees of consumer protection and keeping your work, as well as your consumers’ transactions, confidential. If you are looking to expand your business and go mobile, consider using the Blockchain system as you start the development of your app.