ABOUT US

Effective Strategies to Implement Blockchain into Your Business

  • September 21, 2022

Effective Strategies to Implement Blockchain into Your Business

Implementing Blockchain into your business

The year 2008 bought us the fabled peer-to-peer network that possesses the potential to disrupt the traditional record-keeping systems and offer a decentralized network to manage digital currency. However, with evolving technologies, the world soon found other ways through which blockchain can be employed. And today, this technology makes perfect sense for businesses working in a wide range of industries. This technology has the potential to bring more efficiency, trust, and transparency into day-to-day transactions. And this is the reason why industry leaders are planning pivotal projects for their organizations. Blockchain for business is built on a shared, immutable ledger that is allowed to increase efficiency among trusted partners. For business owners still wondering about whether blockchain makes the right fit for their business needs or not, here is a comprehensive guide sharing some of the most effective strategies to implement blockchain into a business smoothly. Let us have a look:

    • Identify the use cases – You might have decided to implement blockchain technology in your business, but have you thought of its use cases? Well, the very initial step is to spot, clarify, and organize the needs of the company. You need to be sure of the exact problems that you want to eliminate using blockchain and answer yourself a question that whether implementing blockchain will resolve any problem for your business. Once you are sure of the use cases of this technology in your business, you can simply head to the next step.

    • Develop a proof of concept – Proof of concept is nothing but a strategic process that evaluates how blockchain would be feasible for your business. You need to develop a set of guidelines to explain the business project and further create a prototype to involve design, code, and sketches. Later, test the prototype and analyze the MVP with an aim to incorporate the top features.

    • Pick a blockchain platform - After you are done with the POC step, it is time for you to pick an ideal blockchain platform. Well, you need to be very cautious while choosing a platform, as it is a major influential step for your business. There are a lot of platforms available like Ethereum, Quorum, Hyperledger Fabric, Stellar, Corda, Open chain, etc.

    • Run, manage, and activate – From creating the first block on your own to managing and ultimately activating, you and your team need to work on the encrypted token to activate the power required to ensure that the persistence of the communication of the nodes remains intact. Once you are done with running and managing the network, all you need to do is to activate an application on the blockchain network.

    • Eloquent Object Relational Mapping – With this feature enabled in Laravel, the developers can write database queries in PHP form, rather than SQL, which makes faster execution.

    • Go for the right consensus protocol – Note that, when it comes to a distributed network, a consensus protocol can also create an indisputable system of agreement between the devices. You can choose between proof of work, proof of stake, delegated proof of stake, byzantine fault tolerance, and proof of weight.

    • Building the blockchain ecosystem – After the number of stakeholders doubles up, start working on the ecosystem with an intention to improve understanding and foster trust.

Blockchain implementation

Without a doubt, blockchain is a key technology driving business transformation. This technology offers distributed ledger approach that assists in improving the media supply chain and decreasing copyright infringements through security, data analysis, and control. Along with other groundbreaking technologies like AI, Big Data, and Cloud, blockchain has proven to revamp various business verticals.

If you are interested in empowering technologies for your business or avail of any of our services, feel free to visit our website i.e., https://baniwalinfotech.com/, or shoot a mail at info@baniwalinfotech.com and share your requirements with our experts right away.

LOOKING FOR CERTIFIED & EXPERIENCED DEVELOPERS
  • Flexible Engagement
  • NDA Protection
  • 100% Satisfaction
  • 24X7 Support
  • Moneyback Guarantee
Get in touch

Ready? Contact Us


FAQ’s

We sign NDAs and Confidentiality Agreements as required by the client. All our employees work for us full-time and are bound by company Confidentiality and Non-Disclosure clauses. Additionally, for sensitive projects, we can sign custom NDAs.

We evaluate the results regularly, we test our work (we do both development and acceptance testing), we present it to you, we ask for customer feedback, so the customer knows what they need. They are getting what they are paying for. Also, we have constant communication with the client, so that there are no surprises and we proceed with development only after the client's approval.

Since the project (website/application/CRM) is developed individually for each client, we treat each job as their own. So, if the customer wants to take control and manage it themselves, we have no objection to doing so. However, in some cases where the application is developed using proprietary code, payment terms may vary on a case-by-case basis.

Our project management process covers everything from inception to successful completion of the project. We first understand the requirements and plan based on them, prioritize the tasks and start the execution with a well-structured process flow. During the execution, we make sure to track and monitor the progress of the project and during the final phase, we make sure to troubleshoot, test and deliver it with the final report of the project.

We have extensive experience working with clients in various time zones. Based in India, we operate as a remote-first company with team members across the United States, Europe, and South-East Asia. This global presence allows us to serve clients worldwide, regardless of location.

Our immensely talented technical team consistently thinks out of the box, producing truly innovative solutions leading to outstanding end results.

We are very excited about our work, and we enjoy doing it. We provide regular updates via email & messages and regularly show demos to our clients to ensure our customer’s satisfaction.

We set up a dedicated team for every project that consists of project manager/account manager, developers, UI/UX designers, QAs and business analysts. The team always keeps you in the communication channel and updates you about the progress of your project. Since you are the owner of the project, we assign full rights of the project to you only with mutual consent.

Maintaining and improving client satisfaction is our top priority. We achieve this through prompt customer support, whether during the project or after completion. We provide ongoing instant support once the final delivery is made and the web/app is live whether these are weekdays or not. We care for our client's websites/apps and take immediate actions to provide you the best solutions for any queries from our client's. So, if there are any bugs or defects in these 45-days period after the project is live, we will fix it free of cost.
↑