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Old 03-03-2018, 08:12 AM
moneytradecoin moneytradecoin is offline
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Default 3 Imperatives about Blockchain Technology

In this rapid growth of Internet and technology, the phase of business has taken a massive turn. Where initially everything was at medium paced, everything has now turned digital. The advent of Blockchain Technology has surged the financial markets tremendously and also given a new hope to entrepreneurs.

Before taking on the dais and exploring this innovative world of Blockchain Technology, it is imperative to comprehend and understand the implications, benefits of the technology. It will help entrepreneurs to successfully utilize the benefits of this cutting-edge technology to run and survive in this competitive market system.


1) Fresh Fundraising Technique


Capital is one of the biggest concerns for a new business venture. It becomes extremely difficult to get investors on board for huge amounts of money. And the need for capital to kick-start the ideas into action is a never-ending process.
The Blockchain economy plays a significant role here as it allows one to raise capital through ICO.
An Initial Coin Offering, commonly referred to as an ICO, is a new technique that is used to generate capital for cryptocurrencies. It is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for Bitcoin and Ethereum. The idea is similar to that of IPOs where investors purchase shares of a company.


2) A Smooth Functioning System

Gigantic companies and industries face thousands of problems which sometimes are caused due to human errors. Keeping all the departments intact and in place is a big responsibility for all. The need to supplant an intermediary to keep a check on the activities has become the need of the day. As such, Blockchain Technology helps to suffice this need by offering probable solutions to most of the difficulties. Entrepreneurs can abstract this technological breakthrough and apply it to a number of pressing problems. Be it marketing, sales, B2B or a trading platform, the implementation of this efficient technology can aide a company to run smoothly and steadily.

3) Decentralised System

Blockchain technology represents a decentralized system. That means the power lies with the people using the same. No external force, the government can intervene in its utilisations. The peer-to-peer network provides complete Transparency. It thereby eliminates the risk of loss, fraudery, corruption, hoarding, Hacking, and manipulation. All in all, it restores the power to the community as a whole.
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