Gartner’s Blockchain technology report suggests that blockchain will generate an annual business value of more than US $3 trillion by 2030 as 10% to 20% of global economic infrastructure will be running on blockchain-based systems. In addition, blockchain enables organisations to code multiple aspects, including data privacy, governance, identity management and more.
Centralized network: Lack of transparency due to a centralized platform.
Lack of security: The absence of every transaction’s copy leads to frauds and scams.
Intermediary fee: Due to the centralization of systems, a hefty intermediary fee is levied.
Neebal’s Blockchain Development services support digital transformation across industries. Neebal operates with a team of dedicated developers and designers to meet the evolving needs of enterprises and transform possibilities into reality. We have significant experience in Blockchain Development in India, USA and Australia.
Validated transactions: Data stored in the blockchain is immutable and cannot be changed easily, as the data added to the block after approval allows secure transactions.
Decentralisation: Blockchain ledger provides complete visibility on transactions. Furthermore, it is a decentralised network, giving no central authority to anyone.
Improved transparency: With blockchain, organisations can go for a completely decentralised network where there is no need for a central authority, improving the system’s transparency.
Enhanced security: Security is also enhanced as each node holds a copy of the transactions, failing any malicious attempts to make changes in the transaction.
Improved traceability: As the supply chain becomes more transparent, it enables better traceability. Organisations can also make the most out of blockchain traceability by implementing it in-house.