Application of Blockchain in Industry and Businesses
Research
paper:
Week
12 - Application of Blockchain in Industry and Businesses
This
week we will explore how Blockchain has made an impact in Industries and
Businesses.
We have viewed how Blockchain has
made a significant impact on businesses and industries. Select one
industry and highlight the advancements Blockchain has had on that single
industry.
Your
paper should meet the following requirements:
•
Be approximately 3-5 pages in length, not including the required cover page and
reference page.
•
Follow APA guidelines. Your paper should include an introduction, a body with
fully developed content, and a conclusion.
•
Support your response with the readings from the course and at least five
peer-reviewed articles or scholarly journals to support your positions, claims,
and observations.
•
Be clear with well-written, concise, using excellent grammar and style
techniques. You are being graded in part on the quality of your writing.
Additional
Information for reference
·
With
blockchain, organizations can turn their business into decentralization
platform which can alter how their business works. It changes the individual
elements, the flow of transactions, profits, and ensures growth.
·
Now
the question to ask here is, how exactly can one use the blockchain in their
business?
·
You
can store data inside the blockchain which can’t be tampered with.
·
Many
companies have leveraged the blockchain’s transparency to boost the
functionality of their supply chains.
·
Many
have integrated the blockchain with artificial intelligence to create their own
decentralized AI model.
·
The
blockchain and the decentralized ecosystem, in general, can be incredibly
intimidating for a newcomer. The Blockchain-as-a-Service (BaaS) model provides
a service where a business’ clients can outsource all the scary backend stuff
while focusing only on the frontend. BaaS vendors provide services like user
authentication, database management, remote updating, and push notifications
(for mobile apps), cloud storage, and hosting.
·
Google
Firebase and Microsoft Azure are examples of BaaS providers.
Please review these additional articles for more
information on business use of blockchain technology:
https://www.businessinsider.com/blockchain-technology-applications-use-cases