Cryptocurrency Is Only The Start: Promising Areas of Blockchain Projects Development | Umbrella IT

Cryptocurrency Is Only The Start: Promising Areas of Blockchain Projects Development

 

Like everything new and not fully examined, the innovation-based concepts give rise to lots of controversy and the most incredible predictions. The blockchain technology is no exclusion.

The year 2017, that witnessed numerous and controversial discussions around blockchains is left behind, but there are still open issues left.

It’s not deniable that the possibilities of the technology are far beyond the limits of the finance matter. Safety, transparency, openness, rate, and absence of intermediaries can increase significantly the efficiency of processes in diverse areas.

The interests of Umbrella IT clients to the blockchain-related project development were initially focused on cryptocurrencies and financial transactions, but lately, we develop projects for such areas as logistics, voting, copyright law, medicine, and others.

For example, in one of the projects for the client Umbrella IT automated performance of the contracts for the trading platform. Using the smart-contract allowed to ensure accurate fixation and regulation of the terms and conditions of the contract with more than two contracting parties (seller, buyer, carrier). Each of the parties wanted to make sure the terms and conditions of the contract are fulfilled and the payment for services is made in due time. In case the contractual terms are met, the payment shall be made, otherwise, penalties shall be imposed.

Under such circumstances, when several participants need guarantee and transparency of the processes performed, the smart-contract presents an ideal solution. Every party acts in accordance with the terms of the same contract, which is kept in the blockchain and remains accessible and unchanged.

We collected for you information that illustrates the current relevance of the blockchain technology and is intended to help you to decide in what processes and areas of your business the technology will deliver the highest efficiency.

Any questions or new ideas?

Have no idea what is the best way to use blockchain in particular in your activity field?

Contact us now whatever implementation stage your project is currently going through!

blockchain app

 

HIRE BLOCKCHAIN DEVELOPERS NOW!


More

  • How To Integrate Blockchain Into The Existing Project In Field Of Medicine: Step By Step Into The Future
    How To Integrate Blockchain Into The Existing Project In Field Of Medicine: Step By Step Into The Future
    With a helping hand from Satoshi Nakamoto and due to the first results of implementation outside of cryptocurrencies realm, the blockchain technology has for a long time secured its position on top news headlines. Medicine is one of the industries that employ actively the cutting edge tech.   Blockchain and New Possibilities Possible blockchain use-cases …
  • How to Build a Blockchain App
    How to Build a Blockchain App
    Information about blockchain is sketchy: the complexity of technology, expertise scarcity, media hype and a common confusion with cryptocurrencies have created a distorted picture. However the blockchain development forges ahead: it’s not a long ago when the majority of blockchain-projects our team was involved in were limited to the financial sector (in particular, cryptocurrency apps). Today applications for …
  • Forewarned Means Forearmed: AI-related Legal and Ethical Issues and Risks
    Forewarned Means Forearmed: AI-related Legal and Ethical Issues and Risks
      It is not always that the implementation of autonomous electronics into everyday reality runs smoothly. Another piece of news, which again caused series of discussions around AI technologies and their physical realization in real life: in the city of Tempe, Arizona, United States, an Uber self-driving car hit a pedestrian. As a result of …