Advancements of Blockchain

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 also 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
• https://www.forbes.com/sites/forbesagencycouncil/2020/02/04/blockchain-for-business-in-2020-where-do-we-stand/#2ce8de986533
• https://businessblockchainhq.com/finance-blockchain-news/success-stories-in-2019-for-blockchain-in-financial-sector/

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. The UC Library is a great place to find resources.

• Be clear with well-written, concise, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.