Blockchain Development
Bespoke
Blockchain Development Houston, Texas
The beauty of blockchain is that it is more of a concept rather than a set of rules, instructions, or architecture. As a result, there are not one or two but many different ways that blockchain can be implemented.
Choosing The Right Blockchain Solutions
Suppose you’re looking for a blockchain solution for your business (or even personal) problem. In that case, chances are you need one or more of the following features incorporated into your system: Transparency, Immutability, Decentralization, Enhanced Security, and Faster Settlements. Depending on which of these features are more important to your use case, you could have various options for blockchain platforms in front of you.
For instance, if you’re in social services, blockchain technology can reduce the slowness of the processes and the bureaucracy, leading to a more streamlined and safe way of distributing welfare benefits. Blockchain solutions can ensure that medical history can be safely stored in the healthcare industry and patients have complete control over it. Financial institutions like banks can use it to make their record-keeping processes simple and smooth and increase trust between clients and customers. Several other blockchain applications include supply chain management, effective tracking of property records, and smart contracts.
The need for a custom blockchain solution
A bunch of Blockchain platforms are available to choose from. There is Fabric, Sawtooth, Quorum, Corda…. Let’s just say the list isn’t short. However, unique problems require unique solutions, and an existing platform cannot always meet all your requirements the way you need it to.
Big brands like Prada and Louis Vuitton are collaborating to develop blockchain-based authentication to tackle the problem of counterfeit goods. Under codename Aura, the development of a cryptographic platform in the luxury market was reported to have begun in 2019. Academic institutions and healthcare organizations are also increasingly building their own blockchain solutions to improve business operations.
What goes into building one?
To build a successful blockchain solution, we first need to accurately identify the requirements of your problem statement and plan out the timeframe and budget for the project. We then need to figure out the risks and obstacles that may come our way and put a strategy in place to overcome them. Once a prototype is complete, we move to the development phase, wherein the blockchain solution’s design, development, and testing will be done. This is thoroughly documented before the project is launched and deployed. Finally, it is integrated with the current environment.
To keep up with the evolution of your business, the blockchain also needs to be continuously updated with new features.
Conclusion
Suppose you’re looking for a blockchain solution for your business (or even personal) problem. In that case, chances are you need one or more of the following features incorporated into your system: Transparency, Immutability, Decentralization, Enhanced Security, and Faster Settlements. Depending on which of these features are more important to your use case, you could have various options for blockchain platforms in front of you.
For instance, if you’re in social services, blockchain technology can reduce the slowness of the processes and the bureaucracy, leading to a more streamlined and safe way of distributing welfare benefits. Blockchain solutions can ensure that medical history can be safely stored in the healthcare industry and patients have complete control over it. Financial institutions like banks can use it to make their record-keeping processes simple and smooth and increase trust between clients and customers. Several other blockchain applications include supply chain management, effective tracking of property records, and smart contracts.
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