Negosentro.com |Blockchain In Mobile Application Market | Blockchain is one of the most rapidly spread and valued technologies of this century. Blockchain gives enormous quickness and impenetrable security measures.
The inclusion of this technology into designing and developing mobile apps is a appreciable idea when everything around is being modernized. The idea of combining these two will give profitable results.
Blockchain is the decentralized technology network that helps in the transaction of digital currency such as Bitcoin, Litecoin, Ethereum, etc.
This technology gives the permission to give out digital data, but not duplicated. That means every single piece of data can have only one owner.
This technology is included into mobile apps to increase the speed of the virtual transaction process and it also guarantees the safety of users information.
It’s foreseen that blockchain technology can act as best replacement for Apple’s App Store and Google’s Play Store as a main choice for downloading, purchasing, and searching.
Primarily, Blockchain technology has gained huge popularity for being a stable base for processing every cryptocurrency. Developers now look into this technology as a database that helps in developing every single mobile app development process.
This decentralized technology has the ability to track down transactions easily of people or industries who transfer currency to their stakeholders or other individuals.
Blockchain technology advantages
Blockchain technology has multiple uses and it has the capability to serve in several other industries like Healthcare, Government, Travel and Hospitality, Financial Services, Retail and CPG.
Financial Services: Blockchain technology has already been serving financial services sector, this technology been executed in many creative ways.
Blockchain technology eases and organizes the whole procedure related with asset management and transactions by giving an automated trade lifecycle where all the users will gain access to the accurate same data about a payment.
Healthcare: Blockchain has a very important part to play in the healthcare field by maximizing the privacy(personal and financial), security and interoperability of healthcare information.
It demolishes the involvement of a third-party and also eschew the overhead costs. With Blockchains, healthcare records can be safely secured in allocated data bases by encrypting it and executing digital signatures to guarantee privacy and genuineness.
Government: Blockchain technology keeps the potential to revamp Government’s operations and services. It can be a major part in enhancing the data transactional hurdles in the Government sector.
CPG and Retail: There is a great opportunity for Blockchain technology to be applied in the retail sector .
This comprises of everything from assuring the originality of high value goods, averting, fraudulent transactions, finding stolen items, allowing virtual warranties, controlling loyalty points and organizing supply chain operations.
Travel and Hospitality: The execution of Blockchain can completely transform the travel and hospitality sector.
It can be implied in payments, saving important documents like passports and other ID cards, reservations and handling travel insurance, loyalty and rewards.
Impact of Blockchain in mobile application market
If we look at the statistics the mobile app economy is rising day by day it’s not going to stop in future, importantly when it’s supposed to become valued at about $6.3 trillion by the year 2021, and with the increase in usage of mobile apps for each and every need millions of more apps will be developed in the future.
With the implementation of blockchain in mobile applications, following advantages can be achieved:
- Resolves users issues regarding in app purchases.
- Improves advertising model.
- It helps in app transactions to become transparent.
- Improves reward programs.