What is Blockchain Technology
An emerging field of technology which facilitates distributed public ledgers that hold immutable data in a secure and encrypted way. It makes sure that transactions can never be altered. Blockchain is a simple yet innovative way of passing information in a fully automated and safe manner. The pillars of strength for blockchain are decentralization, transparency, and immutability.
Why Blockchain Technology
Improve traceability and transparency with the help of peer to peer network
Drastically reduce the cost of manual errors with transparent validation
Reduce cost of contract management via automated smart contracts
Insulate your business from scams and frauds via decentralized validation
Using the advantages of a peer to peer network, Blockchain provides improved traceability, greater transparency and enhanced security. The decentralized nature of blockchain technology has helped various industries such as data storage, retail, real estate and asset management. The traditional method of transaction between two parties is prone to manual errors. With the help of the transparency that is the hallmark of blockchain technology, transactions can be completed faster and more efficiently.
Cost-effectiveness is one of the prominent factors for any business. Blockchain technology can help with smart contracts for businesses by decentralizing the automation, validation of contracts to save time, effort and cost inherent in manual processing of contracts.
Forsys gives utmost importance to operational values of businesses and with its team of certified blockchain experts can perform strategic evaluation to help businesses expand and achieve scalability. Thus, ensuring that businesses are empowered with the endless possibilities in the emerging field of distributed ledger technology.