Business Benefits of Blockchain

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings many benefits to businesses that use it.

Here’s a list of key benefits to consider:

Trust -- blockchain enables trust between two businesses even if no prior relationship exists.

Decentralization -- blockchain connects two businesses through data sharing.

Security -- Blockchain brings a new level of security to the business’s data through its distributed storage.

Cost reduction -- blockchain can decrease costs through smart contracts and other automation.

Speed -- blockchain can accelerate the rate of business transactions through online connectivity.

Visibility -- blockchain stores all transactions on one network giving all the constituents visibility on the history.

Immutability -- blockchain brings a permanent record of transactions that cannot be altered providing an immutable record.

Control -- blockchain brings the individual control over their own data such that they control it.

Tokens -- blockchain brings the concept of tokens which yields online ownership, access, and resources.

Businesses across many sectors including financial, government, legal, and healthcare can benefit from the blockchain.

By reorganizing networks into a blockchain structure, businesses can improve the speed and lower the cost of business transactions.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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