How to use blockchain in the company

Blockchain technology as we know it was first implemented with the birth of Bitcoin in 2008,  the first of the so-called “public blockchains” that anyone can join and use without any restrictions. After it, others appeared, such as Ethereum, also public, and the blockchain began to find real use cases beyond the simple exchange of cryptocurrencies, so the technology began to prosper and its popularity to increase. Companies began to look at this very novel technology, and although at first they were suspicious, they have ended up investigating how to use blockchain in the company .

It was then that many companies, who had the need to find secure communication channels for the exchange and storage of confidential information, realized that in many cases these first public blockchains did not meet their needs and that the fact that it was an open environment was not the most suitable for his interests. Among them are companies that handle information related to the military field, bank details, personal data, government information and a long etcetera. In this sense, the appearance of the so-called “private blockchains” could suit them better, since the idea of being able to set up a blockchain at the business level could cover that need for privacy that they needed. And if, Although initially it was banks and financial institutions that began to work with them, the truth is that today companies of all kinds are already working with blockchain technology, most of the time on private or hybrid or federated networks. We define asblockchain in the enterprise to networks created and equipped to meet the needs of the business world, with individual characteristics just for them.

Types of enterprise blockchain

With the evolution of the blockchain, different types appear, with different characteristics and functionalities, which try to adapt to the different realities demanded by companies. Let's see the types of blockchain that we can find in companies, classifying them (1) at a general level, according to who can access them and (2) according to the permissions that are defined in it.

Benefits of using blockchain in the company

Without going into technical details, you would know that Blockchain can help in tracking the transactions carried out between two entities, adding a layer of trust to the operations carried out. And it is that this powerful technology allows companies to guarantee with absolute certainty the authorship of the information that travels and that is stored in the networks, from the detail of which person, entity, institution or device generated that information, to knowing what, from where, how and when it was done.

These would be some of the characteristics inherent in its own technology, and how its integration can help companies in achieving their objectives:

 

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