Block chain is also one of the present technology that has influenced business growth in the recent year, Blockchain is a type of technology that records transactions to a digital ledger in which they cannot be corrected or altered. These records of information are linked using cryptography. The info on a blockchain is can be authenticated easily . Blockchains are decentralized, so the data is accessible to all the computers on the network. Blockchain applications provide a different solutions needed to improve business and some of them are;
Blockchain technologies boost business through the adoption of smart contracts smart contract is a automated contract that has the terms and conditions of all parties written directly into the code. The code and terms and conditions of the contract exist on a deconcentrated blockchain network. Smart contracts ensure all entities involved in the agreement performs their task accordingly. These automated programs run without downtime and without the intrusion from external parties. It ensures payment is done once the business deal is completed and one party can sue the other party if there's any fraud in the deal, this contract is simply the best when dealing with unknown people.
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