It’s not only that blockchain tech can be used in novel ways. Since it is a trendy and in-demand technology, it may be utilized to great effect to revamp already-existent approaches and provide you with an edge in a certain market segment.
It’s important to remember, as a corporate CEO in the modern digital world, that you need to think creatively about more than just your firm when making consequential choices like whether or not to implement blockchain technology. For example, even if just one company decides to use blockchain technology, that company’s efforts will yield the greatest returns if the technology can be used by a wide range of interested parties.
Assessing The Cases
Online photo-sharing networks, for instance, are a thriving subculture. The availability of royalty-free stock photography from your company makes it an ideal hub for people to interact and use blockchain technology.
The first step would be to implement time stamping when users first submit images to the site, tagging the IP with information such as the time and date it was created and the uploader’s digital signature. This would ensure that the IP is safe at all times, and it would also allow visitors to the site to easily get the certificate or timestamp information associated with a certain picture by entering its unique ID.
You do not need to fear a bad user experience when using a SaaS-based system to provide this capability since it is general and supports bulk processing, too. Additionally, credential-granting agencies, especially those in the academic sector, may benefit greatly from its implementation. Applicants may simply get blockchain-based certifications upon completion of a course if an online institution offers an e-learning option. By inputting the distinctive certificate ID into the system, businesses may quickly verify the following information without requiring the student to repeatedly submit an attested copy of the certificate when applying for jobs.
- Certified document hash
- Moment of Issuance
What Non-Functional Criteria Are Satisfied By Blockchain Technology?
Implementing blockchains in use cases comes with several automatic benefits, in addition to the ability to allow for the strong completion of a company’s operational needs and offer it competitiveness.
Improvements In Compliance
Compliance with local laws is crucial for every company operating anywhere, but in Europe and America, it carries far more weight.
Due to the immutability of the ledger’s record of transactions on the blockchain and the fact that it is not subject to manipulation by any central authority, auditors may concentrate on finding inconsistencies rather than spending time verifying the ledger’s authenticity.
A Well-Run Administration
In the past, management tasks were carried out entirely via the use of notifications, notes, checklists, memoranda, and acknowledgments. The time involved in this whole process is excessive.
Nevertheless, blockchain technology allows for the automation of administration and monitoring of activities via the use of smart contracts that are carried out in a distributed setting. Given the flexibility and scalability of these terms, it’s easy to see an unlimited number of new applications being developed on top of this infrastructure.
In this way, we can guarantee that the processes can expand in both the horizontal and vertical directions and that any new management activities can be implemented with little disruption to existing operations.
If you want to succeed in a system where IP validations and protections matter, you need to cater to a wide range of customers from varied backgrounds. This trend, which is also known as inclusion, has been on the increase since the Ethereum blockchain was introduced. It’s also used as a payment option since it’s accessible to more people. However, it is used to reach a global audience via applications such as crypto-bankapp.com/de.
To fully grasp this, an illustration is required. To verify a certificate at a conventional educational institution, for instance, the student would have to personally arrive at the office and have the certification signed in a language understood by the business. On the other hand, in the event of a blockchain-based organization, language and other barriers are irrelevant. Every piece of verification information is needed by the company in this situation, or any additional blockchain timestamping tool, with no problems caused by a lack of common language or a difference in file formats.
Due to the distributed nature of blockchain systems, there is no central point of failure where resources might be compromised. This means that even during peak use, the system will continue to be accessible to authorized users at all times, making it suitable for use as a picture or video-sharing app.
Blockchain’s ability to boost your company’s credibility, legal standing and competitive edge is apparent.
What’s more, the connections do more than merely look after the platforms they are directly connected to from the user’s point of view. If your company permits users to submit royalty-free photographs or videos, for example, you may provide them the opportunity to do so straight from a cloud-based storage service like Google Drive, Outlook, etc. It not only improves the user experience to new heights but also provides a tangible benefit to every company that uses our APIs.