Beyond Cryptocurrencies...

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Blockchain technology is something we’ve all heard of because of crypto and that’s because they are built on it but it doesn’t just apply to crypto alone, it has other uses or applications and also other businesses that are also benefiting from the advantage of it.

Currently, businesses like the healthcare management system, real estate and supply chain etc are now applying blockchain technology into their system and not just these, there are other businesses that are successful or progressing due to the application of blockchain technology and others can also be successful if it is applied too.

One might ask what the importance of blockchain technology is in businesses if it doesn’t just apply to crypto alone. Well, there are many major benefits of blockchain technology and some of them are;
Transparency: One of the beauties of blockchain technology is transaction transparency and the secure network. Because of its decentralized nature (which means no one is in charge and is open to everyone), it has made it difficult for scammers and fraudulent acts to take place on the blockchain network.

On the blockchain network, nothing is ever lost, which means everything is forever stored on it and in some cases it's yours forever. This means in cases involving real estate documentation, health records and other valuable documentation can be stored on the blockchain network permanently without the fear of losing them or being hacked by hackers.

Speed and cost efficiency: when it comes to processing speed in transactions and automation of processes blockchain technology makes it easy, increasing efficiency and reducing costs.

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