Boost Adoption Of New-Gen Digital Service Network

Blockchain is a massive, worldwide distributed ledger or database that can run on millions of devices, creating a collaborative environment

Trivia

Blockchain technology can reduce transaction costs by up to 90% in cloud communication networks.
Source: sciencedirect.com

Why Blockchain?

Blockchain organizes data into groupings known as blocks. When one of the data storage blocks concludes, it immediately joins to another block. As a result, blockchain has a system of chain structure. Blockchain data can only be viewed by authorized network members. Furthermore, no one has the ability to alter the recorded data, and the data is always transparent. These capabilities could greatly help firms with a variety of activities, including fraud detection and prevention.
Blockchain technology radically offers new ways to conduct business. All nodes participating in the blockchain network benefit from trust, security, transparency, and autonomy. Blockchains can be helpful for a broad range of sophisticated transactions, making them ideal for telcos who wish to lead the way in providing the next generation of digital services.

How it Works?

Features

Trust

Blockchain establishes trust amongst entities where trust is either absent or untested

Decentralized System

Allows for data exchange between organizations where no single organisation has exclusive control

Secure

End-to-end encryption produces an unchangeable record of transactions, preventing fraud and unauthorised conduct

Saves Cost

Reduces expenses for businesses by removing intermediaries such as suppliers and third-party providers

Use Case

Auditing & Accounting

Blockchain provides an audit trail for transactions, helping detect discrepancies or errors. By using Blockchain, auditors and accountants can be more efficient and accurate in their work while providing an extra layer of security to the audited accounts

Gaming

The technology allows players to trade in digital assets such as in-game items and currency securely without needing a trusted third party. It provides gamers with a level of trust by giving them more control over their in-game assets, which is difficult to achieve in a traditional gaming system.

Digital Payments

Route ledger, distributed across a network of computers, will verify and record the payment without the need for a third party. The process is fast, secure, and cost-effective. It provides transparency, allowing customers to track all blockchain payments.