Enterprise block chain: opportunities and risks

The block chain technology is slowly becoming the name of a household name in the science and technology world. Many people still think that the true application of the block chain is only in the encrypted currency.

However, this is not the case. As the company block chain technology becomes more popular, people will eventually see the versatility of this new technology.

Enterprise block chains bring the same level of security, ease of use, and control, fundamentally changed their business operations.

Although they have considerable criticism, many startup companies and suppliers continue to develop them. This promotes enterprises much more than expected.

What promotes this global block chain revolution?

The answer is – API (App Programming Interface) economy. The API economy is growing rapidly, and many organizations are using this technology to improve their business. Even if this technology is accelerating development, it is impossible to keep up with the development of the Internet.

Today, companies need a lot of data management and a global rapid transaction to maintain the operation and growth of the business. This brings a range of different business challenges related to security, transparency and complexity.

Safety: Current Centralized Systems of Enterprise Architecture provide hackers with the advantage of invading specific user accounts, applications, and devices. It cannot provide minimum necessary security.

Complexity: Each global company needs to keep up with various intermediary, and build a harmonious working environment between them. Management This will result in complex issues and increased costs.

Transparency: There is no specific transparency point, companies can track their services to customers. This will lead to more counterfeit behaviors and have a negative impact on the business.

Only fake a loss of more than $ 7.5 billion per year. And only in the United States! Product suppliers from all over the world must pay up to 30% interest, thus improving consumers’ overall prices. Even if the manufacturer can eventually produce budget-friendly products, consumers cannot enjoy all the benefits.

In this typical disasters, the block chain technology can save the underground economic boat. By integrating this technology, companies can re-won customers’ loss trust.

The data is now the new currency of the API growth. With the help of the block chain solution, it can finally be breathless.

Block Chain and Distributed Book Book Technology (DLT)

Distributed Book is a database that maintains and supports multiple participants across multiple locations. The block chain is a distributed book technology with a unique architecture and additional features.

Unlike traditional DLTs, the block chain uses encrypted block chains to create a tamper-resistant record of the transaction. Additional features of the highly programmable block chain like Ether work include:

Create digital assets. Although DLT can register products in digital format, the native copies of the block chain of Taiquian District can issue and manage new, customizable digital assets and financial instruments.

Encrypted economic incentives. DLT was originally not integrated with encrypted currency. The block chain allows the incentive mechanism to hard connect to the protocol to reward positive network behavior and punish evil activities.

Interoperability. Since some DLTs are built on a proprietary frame, the user may be bound to a particular provider to obtain certain functions. The modular and open source block chain like Ether work allows companies to interact with the technology into their existing systems and securely interact with private and public block chain networks.

Enterprise block chains are popular in large-scale. She has a strong firepower that can’t be owned by a centralized platform. Enterprises are slowly accepting this network because they will be able to use the block chain to business with more efficient and lower costs. However, in this era, only the block chain can provide so many security for the company. In addition, when the district block chain technology takes over the world, many companies that will synchronize this platform and the decentralized application will take a lot of color in the future.