Blockchain is a technology for decentralized data storage and exchange. Decentralization means the simultaneous storage of chains of cryptographically protected blocks on multiple computers at the same time.
When a request for an operation is received, they are compared, and only in case of a complete match, the system allows the creation of a new block - to store the result of the operation. Because they are flexible and highly secured from external interventions, the blockchain is used in the financial sector, by identification systems, to fix land tenure rights and resource distribution.
First to use blockchain were Bitcoin creators. Because it is a cryptocurrency this data managing approach is still considered to be a purely financial sphere tool. Nevertheless, currently, there are a lot of different blockchain-based projects being implemented in various fields.
Back in 2017, Microsoft presented digital identity cards on the blockchain, Sweden and Ukraine are actively preparing for the transition to a “digital” land registry, and the Borderless management organization platform uses smart contracts to provide legal and economic services to users around the world.
Possibilities of Using Blockchain
Financial Sector, Banks, and Investment Companies
The financial sphere and the banking sector are key consumers of decentralized data storage solutions. An example of a customized blockchain solution in the financial industry would be an independent investment system in which the roles of intermediaries are simplified or minimized.
Digital identification of the parties and the impossibility of data forgery allows operating without auditors, lawyers, clearing agents. The technology also significantly accelerates international financial transactions and payments from foreign counterparties. This is one of the reasons why Russian banks (Sberbank and VTB) have long been actively investing in the blockchain.
The identification capabilities of the technology are used in the public sector. The voting system based on blockchain technology guarantees transparency and honesty of the results. The ability to receive quick public services greatly simplifies the interaction of citizens with government agencies. Moreover, EU countries, India, the United Arab Emirates and other countries transfer land registry transactions to the blockchain via smart contracts.
The Internet of Things
A decentralized approach to combining smart devices will help secure data exchange within corporate networks and technological systems. With centralized control, the system needs additional equipment, data protection protocols, backups, to constantly grow its capacity to provide stable work at high loads. Because there is no need to control nodes and server stations, there is no need to spend money on controlling the "web" unlike within the current centralized approach.
Notary And Data Registries
An approach to storing and managing data through blockchains will eliminate the human factor in any operations with property by reducing or eliminating the role of a notary in the process. Automated applications will be able to create immutable records, track them, authenticate without risking the confidentiality of information.
How Do We Develop Blockchain Projects :
We analyze the market, draw up a development plan and gather a team
The project manager discusses the task with the customer. Based on that discussion he prepares a plan for research and market analysis. Depending on the complexity of the task, this is done either directly by the manager, by business analyst or marketer.
Based on the results of the above mentioned analytical work, the project manager offers the client suitable solutions, draws up a work plan and schedule, invites designers and developers with the necessary level of competence.
The designer develops a primary interface prototype that will help the client evaluate the usability and all planned features. Agreed upon prototypes become the basis for application screens layouts.
When the visual component is ready, the development team starts to work on a project. The team usually includes the frontend-, backend-, and blockchain devs. Depending on what technologies are used, the team may be expanded.
Before deployment, the project goes through several stages of QA testing. The QA engineer performs and controls the automatic and manual tests. Developers then fix the errors if found.
Upon testing completion, the team deploys and implements the solution, conducts training for admins. If the customer is interested in the further development of the product and needs professional support, the parties continue to cooperate for subsequent maintenance and service.
Advantages Of Working With Our Company:
- Blockchain development experience in various industries: ICO, exchanges, trading platforms.
- A project manager always ready to get feedback and coordinate the work of the team in a convenient for the client format.
- A development team with the knowledge and experience to create projects from scratch and adapt existing open source solutions to customer needs.
- Understanding the needs of the market and the analysis that we always carry out before agreeing on the technical task for the project.
Advantages of working with us
We use the best practices of UI / UX and make your product understandable to the user and eye catching
Even in conditions of gravity and high overload of servers, everything works like a charm
We eliminate any bugs once and for all. Because no one likes them.
Full QA cycle
Testing is the key to success, and we know this. None of our projects will be deployed without thorough testing.
We realize all the tasks with scary precision and accurate time frames
One of a kind solution
We don't apply any two solutions twice, because we always use a unique approach, and no one would like to see the same old solution.
Awards and laureates
Thanks to our experience and team, we have learned to create competitive applications, even if the customer needs everything and in the shortest possible time.