Blockchain is an emerging technology and has gained a lot of attention since the last few years. Blockchain is a chain of blocks containing data that are linked using cryptography. Block-chain has enabled an interesting concept of cryptocurrency and was initially designed for the cryptocurrencies only. But now it is providing different types of solutions to different companies and organizations for endless security.
By overcoming the issues related to marketing, financial, agricultural and healthcare industries in mobile applications, Blockchain has made the transactions quicker and secure. Take a look at the five biggest changes by which blockchain is revitalizing the mobile application development in 2020.
1. Nonstop Cyber Security
Block-chain has transformed the way transactions are made providing security to every transaction made through the mobile application. Due to blockchain technology, people are now less concerned about their data been leaked. No person wants its personal information been hacked or used by any other person, thus blockchain has made the personal information highly secured using cryptography. It uses decentralization of the data so that no single position contains all the confidential data. In the blockchain, once the data is stored it is difficult to change the data. It increases the authenticity of the users as the developers provide the decryption key to the users, so no other user can decrypt the data without the key.
2. Streamlined Financial Operations
Though the world has emerged to new heights in technology, yet money wiring through mobile applications across the border is still really complex and requires a lot of fees and time. The banking process has made easier for blockchain technology in mobile app development by using a shared ledger for storing and verifying the transactions. Money transfer to any other country can now be done within few seconds rather than in days and that too requiring much lesser fees through banking apps based on blockchain. It also helps prevent money laundering and other criminal activities related to financial transactions. It is even said that the traditional banks may be replaced in the near future by evolving the financial operations in the mobile app through blockchain.
3. Improved Advertising & Marketing
Blockchain has improved the advertising and marketing of the companies in mobile applications as it boosts credibility. It helps in determining whether the clicks received in the marketing and on social media apps are from valid person or clicks and mentions are from the bots. Due to the bitcoin and cryptocurrency which is behind the blockchain, click fraud is being reduced making it easy for the marketing executives to reach their targeted audience. By using blockchain technology, companies receive genuine user engagement that helps in improving their products and services. The public relations firms in blockchain technology confirm the originality of press releases, social media posts and media advisories.
4. Human Resources
The word human in human resources is now not restricted to the human’s hiring new employees. Blockchain technology is now behind the whole process of hiring, evaluating, compensating and terminating employees. It is now possible to use mobile apps with blockchain technology for human-resource operations. Now inaccurate data about a candidate cannot be provided as the blockchain technology has a lot more control over the data that has been provided and verified by multiple parties. Another issue that arises in multinational organizations is the payroll system, as they have multiple employees working from other countries. Blockchain in mobile apps has solved this issue to a great extent using bitcoin as it supports purchasing and holding cryptocurrencies.
5. Better Healthcare
The healthcare industry has one of the largest amounts of data to be stored, and it requires strong security as each patient’s data is private. Now there is a mobile app for healthcare that uses blockchain technology so that all the records of thousands of patients can be stored securely. When data stored with blockchain technology, it also allows patients to give access to some part of data for a specific period of time. It helps the researches to a great level, as medical records are used in learning and researching the medical field. Blockchain app design company helps in developing solutions for the patients and provide health care services.
Blockchain technology is one of the most useful technologies the world has ever come across. Mobile apps have now combined with blockchain technology making things in the world a lot easier. It works on cryptocurrencies and uses decentralization and cryptography. It has made the transactions through the apps easier and safer overcoming money laundering and other financial crimes. The data stored in the blockchain is highly secured as uses digital signature and it cannot be accessed and hacked by any other unauthenticated person. Once the data is stored in the blockchain then it cannot be changed further. It improves in advertising and marketing of the organization as it identifies the fraud clicks and has transformed the human-resource operations.