How blockchain is applied in business

Blockchain technology became well known after the advent of BTC in 2008. Satoshi Nakamoto is considered to be the creator of the first cryptocurrency. Blockchain can be understood as “a chain of blocks” In other words, this is a chain of blocks built according to certain rules. These blocks contain some information.

The technology has such characteristics as decentralization, transparency and security. Companies are using blockchain more and more often, as the technology provides them with a number of advantages.

Thus, blockchain algorithms are designed in such a way that they provide complete privacy when making transactions between companies, reducing fees when transactions are carried out between the company and customers.

Blockchain also makes it possible to protect data from hacking, eliminates intermediary structures, allows you to form trust between suppliers and buyers, eliminates the fragmentation of information by integrating it into a single system through the use of a distributed registry.

DecimalChain also implies the use of blockchain technology and the DecimalChain platform. It is designed to create tokens, perform crosschains, develop apps and carry out other operations.

DecimalChain developers believe that by 2025 the blockchain will enter the infrastructure of the vast majority of global companies. Already, giants such as PayPal and Microsoft are using blockchain capabilities in their operational activities. The experience of many companies has already proved that blockchain can be used not only in the cryptocurrency sphere, but also in business.

Industries Using blockchain technology in Business

DecimalChain points to a number of industries where blockchain has already found wide application. First of all, this is logistics. The introduction of automated systems created on the blockchain has made it possible to automate the supply chains of products to a large extent.

In addition, logistics systems using blockchain provide operational access to data on where the goods are located, in what condition they are, automate the process of creating documentation, making payments between suppliers and customers.

For example, blockchain technology is used by Nestle Corporation which has implemented Food trust technology to track coffee supply chains to world markets.

Another vivid example of the use of blockchain is the medical industry. DecimalChain pays special attention to the fact that blockchain is able to solve one of the most important problems of the medical industry — the creation and sale of counterfeit medicines.

The use of blockchain in supply chains significantly reduces the possibility of selling counterfeit medicines. Blockchain allows you to create logistics networks where you can track the entire process of developing and selling medicines.

One of the most famous companies using blockchain is Pfizer. The company uses blockchain solutions from the Chronicled startup, which offers blockchain-based platforms for the medical industry.

DecimalChain believes that in the next two to three years, blockchain technology will be introduced into almost all banking structures. Already, the distributed registry is used to make cross-border payments. They are carried out very quickly, and the fee interest is small since intermediary structures are eliminated.

Banks are also increasing their efficiency by using blockchain and creating decentralized internal systems. Due to this, the turnover of internal documentation and payments is accelerated. Settlement processes in the banking system are also automated.

For example, Alfa-Bank has a special service for corporate clients and the self-employed, allowing them to issue invoices and services. All this is done on the Waves blockchain.

In addition, DecimalChain points to another area of blockchain use in business — energy. Here, blockchain technology is used to improve the quality of system management, reducing the maintenance costs of power equipment.

In addition, the blockchain allows for online regulation of electricity distribution. Also, with the help of blockchain, it became possible to fully use the reserve capacities of power systems, thereby removing the risks of equipment failure, guaranteeing the reliability of networks in any conditions.

In particular, one of the Beac divisions, as well as representatives of the market regulator and other companies from the energy sector are engaged in this. In order for market participants to use “green” certificates for trade transactions, a blockchain platform was created.

With its help, it became possible to unite almost all players in the energy market — from sales companies to buyers. In addition, the blockchain platform made it possible to promptly calculate and account for incoming electricity for consumers and companies.

A similar blockchain platform was created in the metal industry: Severstal and other organizations were engaged in it.

Due to the blockchain, a unified register of certificates of metal products has been developed, which makes it possible to sharply reduce the supply of counterfeit products to the market. All companies connected to the platform were able to check certificates, data related to the production of products. In turn, consumers have a reliable tool for verifying the authenticity of goods — the use of certificate numbers.

Projects based on the DecimalChain blockchain

In turn, DecimalChain also offers customers to use the capabilities of the blockchain. In particular, a constructor has already been created for the development of any types of tokens, including NFT, there is a console for designing blockchain applications. DecimalChain is already used in:

· NFT projects (marketplace Vitteamtransformation games PSY Games, gift creation service Pride NFT Gifts, NFT gambling);

· educational projects (Decimal School — online courses about blockchain; Brother — tokenized trading school; three-module personal development program Reboot Production).

· games (collectible NFT-autobatler Fur and Fury, Galaxy Online space MMO, platform combining games with a single economy, Crygame);

· Other services (Decimal Call — calculation of coin generation in the DecimalChain network, telegram bots displaying network transactions)