The document discusses the significance of blockchain technology across various industries, highlighting its features such as transparency, immutability, decentralization, and improved security. It emphasizes the importance of an online degree in blockchain for business, addressing its applications like smart contracts, hiring, payment methods, customer management, and marketing. The text also mentions potential economic benefits, estimating a $3 trillion value from blockchain by 2030.

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Enhance Your Career with an Online Degree
In Blockchain For Business
Industries like healthcare, trade, finance, banking, energy, travel, real-estate,
online advertising, education, etc. have incorporated Blockchain technology into
their operational strategy. Blockchain technology is one of the most popular
technologies in 2020, with scope to impact the daily lives of different professionals
in multiple sectors. So, are you still wondering if you should sign up for an online
degree in Blockchain?
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What Is Blockchain Technology
In the most rudimentary way, ‘blockchain’ simply refers to a chain of blocks.
Blockchain is nothing but a growing list of records that are known as blocks. These
are linked cryptographically. Each block has certain information; the cryptographic
hash of the previous block, a timestamp, and all other transactional data.
Blockchain is designed in such a way that it has no scope for any type of
modification in the data.
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Features of a Blockchain
It is important to understand the key elements that make blockchain technology
an asset to any organization.
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● Transparency
The feature of openness is essential to any blockchain. For example,
transactions on a public blockchain are visible to everyone with the help of a
public key or private key, depending on the type of Blockchain.
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● Immutability
Once a piece of information is on the Blockchain, it cannot be edited or
altered. This feature of immutability allows the information to remain
authentic. All transactions are written upon the previous one; hence the
change history is always visible.
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● Decentralized
There is no single authority that takes charge of the Blockchain. It’s run with
the help of multiple nodes aiding in hosting the transactional information. The
lack of central authority improves faith in the system.
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● Digital Freedom
Blockchain technology allows users true freedom of the digital age because
you’re the in-charge of everything. There is no higher authority regulating it;
instead, the terms of the contract do.
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● Improved Security
The cryptographic algorithms of blockchain technology help in adding multiple
layers of security to all the data that is stored. The feature of decentralization
acts as added safety, which makes it better than other systems.
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Why Is Blockchain Important For Business
According to a report by the World Trade Organization, the economic add-on value
of Blockchain on a global scale will reach up to $3 trillion by 2030. Steadily it’s
becoming a part of every industry. Here are a few ways in which it is
revolutionizing businesses.
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● Use of Smart Contracts
Smart contracts have all the terms of the involved parties written into the code. It
exists on a decentralized blockchain ensuring all parties fulfill the agreement. They
require no external interference. It can improve business because both parties
have to meet their ends of the deal. It eliminates the need to pay intermediaries for
any kind of dispute because the contract is self-sufficient. If anyone backs out
without notice, your goods or services will be returned to you.
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● Hiring Reliable Employees
The most valuable asset of a business is the workforce. Blockchain is really
helping in the right hire because it eliminates the use of forged or photoshopped
documents. You can easily verify all the mark sheets, degrees, certificates,
experience letters, etc. through a digital ledger that cannot be modified, hence
provides accurate data. The time, research, and effort that goes into hiring will be
reduced because of this. It’ll improve the quality of hires as well.
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● Smoother Payment Methods
Blockchain technology has taken over the banking and finance industry. And
there’s a good reason for that. With lesser fees for transactions, along an
immutable record of all these transactions makes Blockchain the perfect choice. It
can be used to pay salaries and maintain a record of cash flow. Especially in
cases where you have outsourced work, it makes payments to employees in
remote locations much more manageable.
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● Strengthened Customer Base
Incorporating Blockchain into your business allows reliable identity management
for customers. They can take control of the data being shared, improving
trustworthiness in the business. Excellent transactional records will enable the
customer and the company to see how the business relationship has progressed
over time. You can tap on all the spending patterns of the customers to identify the
loyal ones and build upon better customer relationship management.
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● Enriching Marketing Campaigns
The marketing behind any business is the driving force. And in the competitive
frenzy by different companies, it’s challenging to target customers. But Blockchain
can be used by marketers to keep a record of customer information and spending
patterns. They can then research this data to design campaigns that will have a
higher return on investment. Blockchain will also help you gather data from real
people and help to filter out bot-disguised accounts.
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Conclusion
An online degree in Blockchain for Business will help any business to grow. This
degree will give you an overview of blockchain basics, along with the consensus
algorithms being used. Moreover, you will understand smart contracts and
blockchain architecture better. With reduced costs and greater efficiency,
blockchain use-cases allow employees to focus on better business decisions.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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Any questions?
You can mail us at
hello@blockchain-council.org
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