If you were not under-cover for the last few years, you probably know how explosive the blockchain has been. With lots of critics and fans, Blockchain in Enterprise App development has ga+ined lots of popularity, that no wonder, its global market is
Surprisingly, the global app economy is projected to gain worth $6.3 trillion by 2021, up from $1.3 trillion last year. This is a mobile era, where more than 80% of people who own mobile devices search for products and services online. Of this 80%, 27% search for mobile apps that are connected to the products or services they want.
These are some curious numbers, right!
No doubt, mobile apps have become an inevitable part of our lives. With the 5M+ apps available over the internet, there is more struggle.
In this heated competition, mobile app companies are doing everything to maintain customer standards and give an everlasting customer experience.
To win customer trust and avoid cyber threats, the mobile app industry is more focused on building a secure app that can only be possible with Blockchain.
Even today, after so many technological advancements, Blockchain is still considered bizarre. It is evolving as a revolutionary technology with applications in almost all and the mobile industry is no exception.
In this blog, we are going to talk about how Blockchain is transforming businesses and the enterprise app world? And how this technology is opening new doors for entrepreneurs and business owners with some good Blockchain business opportunities and Blockchain ideas.
If you’re looking for blockchain application development for your business and not much aware of the technology, This is the right place to get started.
Despite technological improvements and innovations, the app development industry is still facing severe concerns that can’t be ignored.
Enterprise Blockchain apps are decentralized applications (dApps) that require no intermediate servers for information interchange. These apps exist and run on a blockchain or P2P network that opens lots of possibilities to mobile app owners in data sharing, app security, public verification, transparency, privacy, and integrity.
Blockchain application development serves a variety of applications in almost all the industries -
Like the web, the blockchain acts as transformative power to users and app developers, enabling them to achieve step-function advances in productivity.
In the blockchain market, still, the vast majority of mobile users still don’t know about Blockchain in Enterprise and its usage. This is probably normal as it happens with every major technology that took birth on this planet. It often takes time to come in shape – and after a few years, these technologies become assets, people get fond of. The blockchain market is vast to grow and have heaps of possibilities.
Similar to this happens with blockchain: its privileges won’t remain unseen. It is because top mobile app development companies are shifting towards developing blockchain applications for their profit and blend it with their current system. Let’s see how the future of blockchain will change the business verticals.
In the next six years, Blockchain in Enterprise revenue will cross $20 Million.
From vaccines to weather, food, banking, finance, eCommerce, Blockchain has emerged as a game-changer technology in the last decade. With so many benefits it serves, Blockchain helps you develop a safe and secure application that is free from fraud and security threats. Blockchain works on a peer-to-peer technology-based digital ledger system.
Let’s take a look at all ways how blockchain is gradually changing the world of mobile app development.
Blockchain is famous for encryption and validation. It serves impenetrable security to the users. This cutting-edge technology enhance mobile app security by adding multiple protection layers of data and assigning private keys to users. Users with a decryption key will only have access to the app data, which saves it from any outside intrusion and fraudulent attacks.
Being one of the most disruptive technologies, Blockchain most certainly has the ability to increase transparency, reduce potential costs, enhance security, and increase efficiency.
The Blockchain business model runs on a decentralized system that keeps your database at different locations, which in turn reduces the possibility of data loss as a whole. Blockchain is one technology that not only protects users’ data but also, gives Blockchain business opportunities to mobile app developers to enhance data security with ease.
Blockchain runs on the set pattern to attain transparency in transactions and removes middlemen, in such a way that everyone who is authorized can see what is happening without revealing confidential information.
The Blockchain business model works on blocks, which contain a certain timestamp and carries transaction data. Each of the blocks is interconnected to each other which saves the transaction data from getting leaked or tampered with by any unauthorized access.
It also helps users to get real-time access to the data they want to access without leaving any specific block go unmonitored.
These days we have hundreds of mobile apps in our systems and to remember each and every password has now become a cumbersome task. Unlike other technologies in space, Blockchain technologies in mobile apps don't ask you to enter account credentials to ensure validation. This modern technology is helping blockchain developers to authenticate users without asking for passwords every time they log in.
Blockchain uses digital signatures, that provide a highly secured identity verification system to unhitch digital devices, by ensuring data immutability and incorruptibility. This entire process works on public-key cryptography, in which a private key acts as a master password, that facilitates seamless sign-in to the intended app users.
Cash and checks are ruins, this is an era of mobile payments. Nowadays, the biggest hurdle of mobile app payments is security concerns. Events like double payments, hidden deductions, or missed transactions have become so common, that users want their app payments to be lightning-fast, instantaneous but super-secure.
With an advanced and decentralized peer-to-peer network, Blockchain technology in business and enterprise apps speed-up the transactions and enables you to send money across the globe in a matter of seconds.
Forget cash and checks, if you look around, you find even plastic money is becoming the past thing with the arrival of digital wallets. Mobile payments apps like Airfox, Circle, Ripple, etc. have been flaunting giving users convenience and unleash speedy payments whenever and from wherever they want. Apps like Starbucks, have turned out to be a great example by offering loyalty rewards to their customers that give two-way benefits to companies and users.
Blockchain has huge potential to eliminate the risk of cyber hacks of mobile app development infrastructure. Securing the infrastructure, Blockchain has shifted brand infrastructure to the decentralized platform.
This technology uses Keyless Security Infrastructure (KSI) that offers mobile app development companies completely transparent and distributed DNS. These DNS entries are stored at the blockchain. That gives owners control over a system, including the government itself can get into the system without the consent of involved parties giving maximum security with no chance of data-tampering to the enterprise app infrastructure.
Blockchain technology is primarily known for cryptocurrency applications. Blockchain eradicates data redundancy by allowing P2P cross-border transfers with a digital currency that increases the overall efficiency of mobile apps. Blockchain is popular for data transaction transparency. This disruptive technology doesn’t require middlemen to carry out a transaction, unlike other technologies of the same domain.
Transactions in blockchain are 10X faster as compared to traditional sleazy bank servers. Ripple is known as one of the fastest and secure blockchains. It can handle an average of 1,700 TPS.
In this way, blockchain-based transactions reduce the overall processing time and give maximum efficiency to users and app developers.
Security has become a great concern in the healthcare industry. By 2025, 55 percent of all healthcare apps will have deployed blockchain for commercial purposes. And by the same year, the valuation of blockchain in healthcare will jump to $5.61 billion from the present $170 million, BIS Research suggests. Blockchain technology has much importance in the digitalization of the entire healthcare system.
One of the most popular healthcare use cases for blockchain is health record management. The digital ledger technology in blockchain helps in the secure transfer of patient medical records while maintaining strict compliance with HIPAA rules. Blockchain also helps in secure data transfer and prevents data redundancy with drug supply chain tracking.
Blockchain is disrupting the music industry by solving some of the critical issues of the enterprises. Talking of today, the music industry is facing issues with transparency, ownership rights are often overlooked, and royalty distribution is a plus. From copyrights to royalty payments, blockchain utilizes smart contracts technology and IP protection in securing the content right distribution in music apps.
Music apps like Choon, Voice, Resonate, Musicoin, mark blockchain’s presence in the music industry.
The major challenges of food industry facing, before blockchain was actually introduced in the food industry are food quality validation and quality check. Counterfeit and manipulative orders, or fake identification are also some of the major concerns nowadays. Blockchain technology has brought revolutionary change in the existing online food ordering and distribution system. It has replaced the centralized system allowing full transparency, eradicating trust issues and third party involvement.
A blockchain food delivery app like UberEats is a great application of blockchain in the food industry, utilizing blockchain supply chain development.
Building a blockchain-powered application is the hottest topic right now. You need to clarify your blockchain ideas, do competitor research, analyze your options, and GO FOR IT!
Nowadays, consumers are more focused on data security and profits, thus these applications
are helping businesses, startups, and investors to develop an app that is more secure and faster to operate in real-time.
So, if you still think, is it the right time to implement blockchain for business? Yes, it is. Get inspiration through our latest insights on 50 Top Blockchain companies for app development. And get started with Blockchain for business.
Thank you for reading!