What Can Blockchain Solutions Achieve?
Blockchain technology was originally designed to support cryptocurrency transactions by creating a tamper-proof record-keeping system that could document complex financial transactions without connections to the traditional financial system. While confidence in the strength and legitimacy of the cryptocurrency market is highly variable, the power and possibilities of blockchain in the enterprise business world are extremely confidence-inspiring.
Using blockchain, businesses can establish direct financial and record-keeping links to their partners, suppliers, repeat customers, and so on to tighten communication loops, speed up financial transactions, and provide best-yet documentation.
In this way, blockchain is emerging as one of the strongest ways that businesses can protect the supply chain. Blockchain record-keeping has the power to connect warehouse inventories, shipping and logistical tracking, and order history to provide manufacturers, their suppliers, and their customers with total traceability for every single part, unit, or shipment in their supply chain.
As artificial intelligence (AI) continues to revolutionize business, partnerships built on blockchain make it easier to build automated ordering, payment, and shipment processes. In the near future, blockchain and AI will come together to drastically reimagine the worlds of supply chain and logistics and build return-on-investment for early adopter organizations.
What to Look for in a Blockchain Solution Provider
Given that blockchain solutions are still at the cutting edge of IT, it’s crucial that businesses looking to leverage blockchain partner with a solution provider that possesses a wide knowledge base in terms of blockchain applications, blockchain cloud architecture, and – perhaps most importantly – how blockchain can be integrated into a company’s existing practices in a way that minimizes negative disruptions and builds buy-in for rollout.
Many programmers and developers understand blockchain technology and can establish blockchain record-keeping or accounting practices, but only the best providers can help a business understand the functional ways in which blockchain can accelerate their business. Anybody can answer the question of “how” blockchain works, but only the best can give a client the “why,” the “where,” and the “what.”
With the right blockchain partner, businesses have the opportunity to get in on the ground floor of a revolution that will forever change the way we think about business partnerships, financial transactions, and the supply chain. With the wrong partner, you’re just paying for a trendy word.
Sofbang Blockchain Solutions
Sofbang builds bespoke blockchain solutions for enterprise clients looking to secure their supply chain and transition into the next era of close financial partnerships. Our solutions leverage the Oracle Blockchain Cloud Service alongside our two-plus decades as an award-winning enterprise solution provider to provide customers with an experience that accelerates business through ease-of-use and makes the transition toward blockchain technology feel secure and powerful.
We specialize in helping businesses looking to break into the blockchain space determine the best point of entry for a pilot program, forge that direct blockchain relationship with a close strategic or supply chain partner, and roll out the technology in a richly supported environment that’s easy to scale up as your organizational comfort level with blockchain grows.
Sofbang also provides solutions for businesses who already have a blockchain strategy articulated but need help building architecture and connecting with the right tools. Whatever your business’ blockchain goals, we have the knowledge and the experience to make them successful.