Blockchain has been disrupting the tech and financial market since the past 5 years. Blockchain was originally created to support the Bitcoin but soon the tech community has started using this technology for other purposes.
Blockchain is the brainchild of a person or a group of people known by the name of Satoshi Nakamoto. In 2017, the global Blockchain technology market is predicted to reach 339.5 million U.S. dollars in size and is forecast to grow to 2.3 billion U.S. dollars by 2021.
Reference Source: https://www.statista.com/statistics/647231/worldwide-Blockchain-technology-market-size/
The insurance industry is a financial intermediary that plays a major part of the financial industry. Even though there has been a surge in purchasing and account insurances online, there is a huge part of the population that still prefers to take insurances through insurance brokers or visiting the insurance company personally. This results in the rise of paperwork and paper contracts which are prone to error and most often require human supervision. In short, the insurance involves consumers, brokers, insurers and sometimes even reinsurers – which results in a potential failure of loss of information, misinterpretation of policy and delay in settlement.
“Every company, city, and country is becoming digital, navigating disruptive markets, …(and the) role in the digital transformation has never been more important.” – John Chambers, Former Chairman and CEO of Cisco Systems.
The era we live in today is a digital age where all industries have embraced and entered this digital world in some way. Industries get to harness the potential of digitization in various shapes and forms, thus making the best of this evolution.
The supply chain industry is no different and today, they rely heavily on digital technologies to ensure accurate data to help with delivery while optimizing resources.
“We are all now connected by the Internet, like neurons in a giant brain”
The world today is more connected than it has ever been before. Technology is advancing at an exponential rate and it is bringing people together like a small global village. Thanks to these technologies, a consumer’s role and demands are shifting in the marketplace. New trends are setting in which influence and sway a customer’s expectations.
Blockchain technology has taken over the world with its unique features of safety and a shared public ledger that doesn’t involve the third party. There have been more than a million transactions on the Blockchain platform from all over the world. Corporations are now looking at adopting the Blockchain in one of the biggest industries, i.e. the supply chain. But you might think why would a well established supply chain look to adopt a new technology like Blockchain? Well the answer to that is for better coordination among various organisations.
The Blockchain technology has triumphed in the Bitcoin market making it the most sought after technology for web-based and mobile applications. One of the biggest merits of Blockchain is that it is a peer-to-peer network, which means that no third party is involved and that you are in control of your own data.
A public Blockchain becomes convenient when the goal is to develop a decentralized, interoperated and independent security channel of data as it helps create trust in the minds of citizens. It becomes a competitive advantage for public services or the government by creating an intelligent Blockchain strategy at a national and local level.
Blockchain is changing how businesses function, providing them with a secure and efficient technology to replace current practices. While it may have an impact on the company financially, it affects various other areas of businesses that are not traditionally associated with finance too, including security, logistics, and transactions.
You could be working in any sector or industry or organization, everyone is talking about Blockchain technology. In the world of finance and financial technology, Blockchain apps are turnkey. But the technology has many other uses as well. These include banking and finance, insurance, fintech, jewellery business, healthcare, medical services, eLearning, travel industry, gaming, smart assets, online shopping portals, digital voting, digital identity management, distributed cloud storage, transport and logistics.
Blockchain is the most sought after topic in the tech world. But how did it all start? Well, the popularity of the cryptocurrency put the spotlight on the Blockchain technology. Nearly, everyone’s heard the word ‘Blockchain’ but very few know the fundamental technology behind them. It is not very easy to understand this technology; there are various videos and tutorials that you might find online but you will find it in bits and pieces. Here, let’s take a step-by-step look at how the Blockchain works and its different terms and technologies.
Blockchain is a revolutionary technology that has currently swept the technical market. It has gained its popularity through the innovation of Bitcoin crypto-currency and now every tech ninja wants to slide foot in this business and create startups. Although, it’s hard to crack the market, a Blockchain based organization now needs a remarkable showcasing procedure as much as a product that compels the audience. Startups need to promote their product aggressively, mainly through social media marketing strategies.
Let’s take a look at 11 marketing tips to jumpstart business for Blockchain startups: