Blockchain is reshaping enterprise software development

Share On Facebook
share on Linkedin

Blockchain is almost synonymous with Bitcoin and virtual currency. But Blockchain is only the technology behind virtual currencies and it has multiple applications in a series of industries. From banking to logistics and healthcare, Blockchain opens new horizons for enterprises in all sectors. It also seems to help software development enterprises create better and better products Below are only some of the ways Blockchain is reshaping the software development industry.


Establishes New Software Development Standards

Blockchain helps software development companies use smart contracts and this allows users to store, execute, and use codes in Blockchain. Blockchain establishes new foundations for identity, privacy, and processing protocols, improving the capabilities of software development companies. New projects carried by software development companies have the incredible potential of replacing traditional processing, storing, and computing with blocks of chain.

Technologies behind crypto like Ethereum allow the use in both private and public mode. This enables enterprise to create friendly programming languages and develop smarter solutions to ensure growth and higher profit margins.

Transparent Databases

Business data integration has never been easier than today, thanks to Blockchain technology. Blockchain technology is using decentralized databases and allows easy access from everywhere, regardless of device type or operating system. This sort of database is more secure and transparent than those existing until today. While users can access and view data, they are unable to alter it. This offers increased data security and integrity. The major beneficiaries in this regard are companies where sensitive data is handled and processed.

While many companies might fear that higher levels of transparency pose greater risks of altering data, Blockchain technology is preventing such scenarios from appearing.

Blockchain technology also eliminates third-party providers and “middlemen”.

Empowers Small-Scale Enterprises

Freelance software developers and small enterprises in the field usually have to deal with third-party portals to find and complete projects. Blockchain technology eliminates the need for such portals and allows even small players to find new clients and ensure their payments are handled properly, thanks to smart contracts.

Small sellers can now compete with bigger companies, thanks to the peer-to-peer character of the Blockchain network.

New storage protocols

IPFS offers tremendous improvements in terms of storage and communication, bringing huge improvements to protocols such as HTTP. IPFS protocols allow downloading multiple files from multiple devices simultaneously, allowing a better integration and use of information. Convenient file naming and client libraries for popular development languages like C++, Swift Python, and JavaScript also seem to bring a new edge to programming.

Novel storage mechanisms developed by using Blockchain technology allow transaction tracking and distribute those between new layers of Blockchain.

All these developments and innovations radically change how development companies and programmers carry their workload. While not all the mentioned changes are implemented and used at a large scale, they are due to become dominant in the near future. Some of these Blockchain applications are already implemented in sectors like healthcare, insurance, and logistics, so development is an expected new sector that will enjoy its advantages.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200606 18:29:53