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4 Significant Developments that Prove the Business Potential of Blockchain Technology

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The blockchain technology is now becoming a fundamental part of various sectors worldwide.

Given cryptocurrency’s relatively slow but steady integration into the business industry, any company that utilises its technology today can make their mark early on. Not only will they have the opportunity to master its use in their operations, but they will also capture a significant part of the market touted to be the “future of doing business.”

The Latest Milestones of Blockchain Technology

The blockchain technology is reinventing web-based systems, streamlining transactions, and revolutionising day-to-day operations worldwide. Here are some of its recent milestones that prove its versatility and profitability as an online platform:

  1. Large corporations are utilising interoperable blockchain platforms for shipments.

Multinational companies, such as Samsung SDS, the Port of Rotterdam, and Dutch bank ABN AMRO, have successfully tracked and delivered shipments from the Republic of South Korea to the Netherlands. It was a feat made possible by DELIVER, a blockchain platform that the three companies co-developed. DELIVER allows participants to finance, track, and carry out shipments without paperwork.

What these three organisations achieved barely scratches the surface of blockchain’s potential for real-time transactions and accurate tracking systems. With more blockchain-based business sharing operations, there will be less room for human error and more opportunities to make more profit in the long run.

  1. Transport titans are joining blockchain coalitions.

Canada’s transcontinental railway, Canadian Pacific (CP), has recently joined the Blockchain in Transport Alliance (BiTA). BiTa is an organisation with over 500 members from transportation, freight, logistics, and affiliated industries, all aiming to enhance their sectors with new technology. CP became a member to improve their supply chain system with blockchain technology. Other leading transportation companies in BiTA include The Home Depot, FedEx, and UBER Freight.

With these industry-leading companies making an effort to incorporate the technology into their operations, there is no doubt that blockchain platforms will play a huge role in future transportation setups. Start-up blockchain companies will do well to tap into this development to establish their presence early in the industry.

  1. Bitcoin is close to being mined thoroughly.

As of 1 August 2019, Bitcoin has announced that 85 percent of its supply has been mined. Out of the 21 million coins available, only over three million remain untouched. Investors need not worry, as the crypto’s limited supply prevents it from being devalued.

However, crypto investors should consider looking into other blockchain-based currencies to stay ahead of their competition. Companies who develop their own cryptos can capitalise on this opportunity and introduce their product.

  1. Cryptocurrencies are becoming popular alternative currencies.

Many now consider cryptocurrencies and blockchain technology companies as agents of change. In crisis-stricken Venezuela, for instance, Bitcoin is being used as a currency alternative. Unlike regular currencies, cryptos like Bitcoin evade hyperinflation and rigid financial management. This makes them a valuable tool for purchasing essentials.

Cryptos are also incredibly lucrative in authoritarian countries like Russia and China—unlike with regular currency, crypto transactions are not trackable. This is a phenomenon ICOs and reverse ICOs can stand to profit from.

Now is the Perfect Time to Invest in Blockchain for Your Business

With so much blockchain news happening around the world, experts predict that many companies will enter the blockchain industry in the future. For investors who are serious about investing in cryptocurrency, NOW is the perfect time to explore and maximise blockchain opportunities.

With Key Coin Assets, you can enter the blockchain market with a strategic edge. We offer digital asset management and digital marketing services specially tailored for cryptos and reverse ICOs, among others. Our years of experience in marketing and business will ensure profitability for your start-up company.

Call us at +44(0)843-886-9547 to learn more. Contact us NOW to invest in yourself!