The use of blockchain for solving problems
The use of blockchain is attractive for solving problems in regards to automation of the participants' ecosystem. In the trade field, this means that the blockchain is somewhat unnecessary for the automation of internal tasks. Its application should be considered only in cases when suppliers of goods or services, customers, partners of the company or regulatory bodies participate in the process. For example, to manage production or financial reporting, traditional databases are more efficient. However, for complex loyalty systems or automated supply chain tracking, blockchain can offer very interesting new opportunities.
Criteria for blockchain application
- The system should have several (ideally - more than 10) independent data authors who can and should write data into the system.
- There is a clear reason why decentralization is beneficial: reducing costs, automating processes or simply lacking trusted intermediaries.
- There is a definite relationship between transactions: for example, payment on receipt of goods.
- The rules by which transactions will occur in the database are known and described.
- Validators that confirm transactions can be brought to the system and the credibility of them is justified and objective.
- System participants should have a clear understanding of who is behind the property (or value) in the blockchain and clearly establishes the responsibility for meeting the obligations.
The possibilities of the blockchain are promising big changes in trade
In retail and wholesale trade, the use of blockchain is just starting to find its feet but even a few successful cases give hope that this technology will be in demand in the near future. We can confidently state that in the trading field, blockchain will be useful for confirming transactions that occur remotely, verifying the authenticity of transactions, controlling the supply chain and other transactions. Thanks to the technology of blocking, these processes become transparent.
The next few years should bring a large number of new ideas and projects as well as the first massive use of blockchain in large companies. The innovative capabilities are promising big changes, which, of course, will be interesting to observe. For example, the developers of the ICO Crystal Clear project plan to reform the existing system of offline services, connect it with the blockchain technology and add the whole set in one application. Developers offer the following benefits:
- Each service performed is recorded in the blockchain that cannot be edited, is open for viewing by anybody and display all prices and transactions.
- Real feedback, reputation of customers and executors, which cannot be deleted or corrected. There is an open history of work and completed transactions.
- The minimum commission on the market is only 1%. Payment for services can be in the fiat currencies, CCT's own token or popular cryptocurrencies.
- Possibility to connect plastic cards for withdrawal. The absence of intermediaries will allow you to directly resolve all the nuances.
- The system of auctions will allow selecting the best providers for any kinds of services (offline included).
- Implement a system of blacklists to combat low-quality services and unscrupulous customers.
The idea of the project is very useful and can simplify the search for providers of various services. It would be very convenient to find any specialists from one mobile application and pay for their work there. Whatever the developers claim, in any case, everything will depend on the implementation.