This year proves to be a new year of development when it comes to merging blockchain technology with business software. Combining these two platforms allows businesses to reach their potential regarding a wide range of systems.
Blockchain technology offers access to a decentralized network that allows for data storage in real-time. Some of the potential benefits of integrating blockchain technology into business platforms is the ability to set rules and compliance settings based on each blockchain, better data traceability, fraud prevention, safe and secure data storage, and a reduction in annual audit costs for both small and large businesses.
This up and coming blockchain based database is called FlureeDB. Users can choose the type of blockchain needed, the payment rates are based according to privacy, and support levels as well as the amount of storage needed.
FlureeDB Business Software Platforms Merging Benefits
Regardless of the industry companies represent the benefits of a blockchain-based database is increased transparency without compromising trust or security. A key benefit is the flexibility given to individual supply chain stakeholders allowing each company to set and enforce their own rules on their blockchain.
They can also set up clear rules regarding transactions between two or more organizations. Member companies and organizations can better coordinate payments ensuring complete transparency from the beginning to end of every transaction. This transparency helps reduce the risk of fraud and improve auditing processes. FlureeDB allows for better compliance as well.
FlureeDB also offer specific benefits for companies within certain fields of business. By using blockchain technology for database management businesses of all kinds can improve their overall management.
Non-governmental organizations and nonprofits can benefit by better overseeing grants and donations ensuring funds are used appropriately while reducing the risk of fraud. Blockchain database management also reduces overhead costs.
Governmental applications of this combined technology are virtually endless. From better utility oversight to law enforcement applications, and even reducing voter fraud. Citizen registration databases can be stored through FlureeDB making data easy to access while remaining secure and private.
Small business will appreciate who this combined blockchain database system allows them to process background checks quickly and accurately while also overseeing payroll.
Ares with some of the greatest potential included the medical industry, gun safety, and the field of media. Blockchain technology has already shown to make huge strides in improving the medical care record system ultimately leading to better patient care.
From medical records to improved doctor to hospital communication blockchain database systems can truly change how record keeping and care happens within the global healthcare industry. A global database regarding gun ownership could also lead to better tracking of weapons and helping to reduce the frequency of gun related crimes. Within media blockchain technology offers ways to better protect copyrights and control content ownership.
FlureeDB Business Software Platforms Merging Verdict
While FlureeDB knows their system is far from perfect it certainly is a new and exciting development within the technology sector that will change how business run from bookkeeping to oversight. By increasing transparency without compromising security blockchain technology is a great future application for businesses of any scale and from virtually any industry.
Interested consumers can learn more about this new platform by visiting flur.ee where membership pricing and enrollment details are explained as well as the platforms complete whitepapers and applications.