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The need for blockchain based-apps in the market has increased rapidly in the past few years.
Experts state that in a few years, the world will revolve around blockchain technology.
It will help you provide a secure and best-in-class experience to your users.
It will then identify the hash(a string of random letters and numbers) of the transaction for authentication purposes.
The hash assigned will also be relatable to the previous transactions stored.
Any changes in the transaction will generate a completely new hash immediately.
Initially, this technology was confined only to bitcoin but in the progression of time, it has proved its benefits and potential.This technology has potentially revamped many industries from healthcare, finance, legal industry, real estate, education, and so on.
So now it is no wonder that it has stepped into the world of mobile applications.The integration of blockchain technology with the mobile app development company has opened the doors of opportunity and many advantages for businesses and entrepreneurs.The progression of mobile applicationsAccording to the statistics, the mobile application economy is increasing to a great extent crossing 6.4 $ trillion by the end of 2021Blockchain technology is slowly revolutionizing the mobile application development domain.
Due to its predicted technique and efficiency, it fulfills various requirements of mobile applications.
This technology also aids issues like data theft and manipulation.Here are some factors that revolutionize mobile app development.Providing A Secure EnvironmentIntegrating blockchain in mobile applications allows the users to track the transaction activities and other functions to make them highly secure and convenient.Using blockchain users can timely get access to all the updates such as logs, application code, and entity as every transaction is recorded in the ledger.Additionally, blockchain-based mobile application development easily considers the categorization and storage under a verified medium.Multiple user AccessBlockchain technology has the ability to excel in security and provide multipoint access for the users.
This becomes the prime reason for which blockchain is widely deployed for app development.Return On InvestmentBlockchain technology is undoubtedly profitable and it also brings a maximum return on investment.
For the deployment of blockchain, it does not require large investments when compared to the traditional methods for cloud platforms.
The future is unpredictable but there are some signs that show the world leaning towards a blockchain-dominated system.
The following are some of the changes we will surely see in the coming times.Cryptocurrency DevelopmentCryptocurrency is taking over the world as typical or fiat currencies are losing its value day by day.
With the rapid technological advancements and the need for more efficient systems, cryptocurrencies are becoming increasingly relevant.
Blockchain-based healthcareHealthcare has been a sector that has seen slow progress throughout the years.
Daily hurdles like inefficient medical services, disorganized patient records, and chaotic hospital management systems require an all-inclusive solution.
Blockchain provides this and more because of its accountable, systematic, and efficient nature.GamingThe gaming industry already is a fan of alternate currencies.
Dr. Jane Thomason, the CEO of research firm Abt Associates-Australia quoted at London Blockchain Week "Blockchain offers governments a fast, secure, efficient, transparent means of being able to deploy government services and communicate with their populations"The blockchain technology has the potential to modernize the public and government sectors.
The blockchain-based government model can overcome the following challenges Securely stores businesses and citizen’s dataReduces labor-intensive processes and excessive costsReduced chances of corruption and abuseIncreases trust in government and online civil systems Businesses, individuals and governments can use a blockchain-powered government model to share resources over a distributed ledger, secured using cryptography.
The immutable blockchain record can flag redundancies of the voting process to ensure only eligible voters vote.Companies using Blockchain solutions to reduce voting redundancies:Votem: A blockchain-based mobile voting platform designed for voters to securely cast votes in elections across the globe.
FollowMyVote: A secure citizen feedback blockchain online voting platform that ensures greater voting transparency.
Transparent Budgeting: Half of the people's hard-earned money is not utilized efficiently because of the corrupt middleman involved in the completion of the project.
It provides a clear overview of who conceived, voted for or encouraged wasteful spending practices while commencing a project,Companies using Blockchain for transparent budgetingNational Research Council of Canada – National research council of Canada uses Ethereum blockchain to increase transparency in Government contracts.
