Blockchain is currently on everyone's lips again - mainly due to the record price of 100,000 dollars that Bitcoin recently reached. But blockchain is much more than just Bitcoin. Find out here which are the most important blockchain technologies of the future - and how you can use them for your company!
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Estimated reading time: 4 minutes
What is blockchain?
A blockchain can be thought of as a digital list of data records that are strung together like chains. Hence the name. The blockchain is structured in such a way that no one can change or delete the data records unnoticed. This makes it particularly secure and transparent. The technology was originally developed for the digital, decentralized currency Bitcoin, the first cryptocurrency.
However, blockchain is now also being used in many other areas, for example in supply chain tracking or digital contracts. Blockchain technologies have huge potential for companies in every conceivable sector.
The most important blockchain technologies
- Cryptographic keys
Public and private keys are like a lock and a key. The public key is visible to everyone, the private key remains secret and enables access to data. This means that transactions of all kinds always remain secure and transparent. - Smart contracts
Smart contracts are digital contracts that are automatically executed when conditions are met: e.g. a payment after a delivery has been received. - Decentralized networks
Decentralized networks distribute the data across many nodes instead of being controlled by a central location. This ensures greater security and transparency. - Tokenization
Tokenization converts tangible things such as real estate or art into digital tokens. NFTs (non-fungible tokens) should also be mentioned at this point.
Areas of application of blockchain technologies for companies
Blockchain can represent a great opportunity for many companies - regardless of their size or sector. For example, blockchain can be used in the following areas:
- Supply Chain Management
Blockchain ensures seamless traceability in supply chains, which increases transparency and trust and reduces errors. - Finance
Blockchain allows transactions to be processed directly, without intermediaries such as banks and other financial service providers. - Security solutions
Decentralized systems such as blockchain technologies reduce the risk of cyberattacks and prevent manipulation. - Digital identity
Blockchain enables secure, decentralized management of identities - without having to rely on central databases
Advantages of blockchain for companies
Blockchain has many advantages over traditional IT solutions that were common before the blockchain era. The biggest advantages of blockchain technologies include:
- High transparency
Blockchain allows data to be stored immutably, which means greater transparency and increased trust among end users. - Increased efficiency through Automation
Another major opportunity for companies lies in the automation that blockchain enables. Smart contracts, for example, save a lot of time compared to conventional contracts. - Reduced costs for transactions
Blockchain technologies such as cryptocurrencies make it possible to dispense with middlemen such as banks. This can reduce costs.
How to implement blockchain technologies in your company
Whether smart contracts or tokens, whether for finance or supply chain management - blockchain technologies will continue to gain in importance in the future. To implement these promising technologies in your company, you need IT and blockchain experts. And in order to be able to find and hire them quickly and reliably - despite a shortage of skilled workers - we recommend temporary staffing as a personnel solution.
Temporary employment will also Temporary workThis is known as temporary work or personnel leasing. This refers to the temporary borrowing of workers from another company. Temporary employment is the best solution for quickly, flexibly and cost-effectively hiring out employees. Skilled workers from abroad to employ - including blockchain specialists.
Contact us to find out more about how we can help you with employee leasing in general and with employing experts in blockchain technologies!
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