How to use blockchain and develop effective solutions based on it?

The financial industry most often uses blockchain capabilities, but in many countries, the transportation system, healthcare, logistics, and trade are also based on this technology. 

When using blockchain, digital information is stored in a public database and has a high degree of protection. Such information can include amounts and dates of transactions. An unchanging history of actions is created, and each new one is added to the existing chain.

Blockchain is used in software development and contracting. In logistics, the technology has found application in the creation of electronic waybills.

What does the blockchain development process look like?

• Analysis of technical requirements
• Direct development
• Testing
• Support of the finished product.

A few more facts about blockchain

Due to the high data security, blockchain technologies are widely implemented in the public administration of different countries.

France plans to invest 700 million euros in such developments and cut 120 thousand officials. 

However, no matter how attractive the project looks, its implementation still requires cryptocurrency consulting. This concept includes the idea, evaluation, definition of the technical component, proof of concept, integration, and development.

Ideation.

The first stage is the assessment of the overall potential of the idea.

Evaluation

At the second stage, an existing project is analyzed to see if it can be transferred to the blockchain.

Determining the technical component

At this stage, a blockchain platform is selected.

Proof of concept (PoC)

Creating a viable prototype. 

Integration.

Determining the possibility of implementing blockchain technology in business, searching for tools for this.

Development

Creation of a blockchain-based project.

When the product is created, trainings and training of employees to work with it are conducted.

What questions can crypto consulting specialists answer?

• What will be the impact of blockchain on the company in 1, 2, 5 years?
• How to get rid of obstacles that prevent businesses from switching to blockchain?
• What innovations can be implemented at this stage?

Thus, consultants will create a roadmap for your project.