This Is Why investing In Blockchain Technology Should Be on Top of Your List

This article is written by Brian Malika, a Contributor Author at Startup Turkey.

Oliver Naegele is the Founder and Chair for Blockchain HELIX AG. In his past career life, Oliver Naegele has been a wanted consultant on IT Security, Enterprise Java Portals, Intranet/ Extranet, IT Infrastructure, databases, and virtualization.

Oliver Naegele also identifies as a Digital Politician and as such has a membership with the Federal Association of Blockchain which is an organization that Oliver Naegele co-founded to advocate for interests of blockchain industry against the interests of Politicians and Legislators.

Any investor out there will like to see value for their money before venturing into any business. As such, blockchain technology is not an exception. There needs to be concrete reasons that are research driven to convince a cautious investor out there too.

As we all know, blockchain technology is a platform that offers online storage of files that can be added from time to time. Furthermore, blockchain technology uses cryptography to link the stored files with others within the system and also offer a file security system that can only be accessed by the permitted blockchain network account holder.

For any keen investor, when you hear of terms like file security, authorized person and linking of files then your business part of the brain should be excited because of your being assured of efficiency in our business operations. So in the next five points, I am going talk about the unique benefits that are presented by blockchain technology and how you as an investor can take advantage.

(1.) There is reduced risk between traders using the blockchain technology platform :

Based on the fact that blockchain technology uses the cryptography security feature to ensure high data security for shared and stored data, your transaction agreement with your potential business associate on the blockchain digital platform can never be betrayed. I mean, all the transaction history even though confidential to the general public, can never be manipulated like the way we see in traditional business contracts. This further cuts down on litigation costs and time that you would have experienced in case of a conflict. In the unfortunate event of an alleged conflict between you an investor with your potential business associate then you will only have to hire an auditor to validate the actual business responsibility to be satisfied by either you as an investor or your business associates. The good thing is that this process will take a very minimal amount of time and costs.

(2.) Blockchain uses a code related to your chain of business as an investor.

Usually, if you are conducting a serious business operation you will need to get lawyers as witnesses and also design the terms and conditions to be met by all the business associates involved in the deal. But with Blockchain technology, all these protocols and procedures while executing business deals will be a thing of the past. This is because the blockchain business technology is self-executable with a very reliable system of storing the agreements. Blockchain technology for sure will ease business operations for you as an investor.

(3.) Transparency is highly assured. Every investor out there would really wish to see how their investment is being spent in startup ventures among other business ventures that are managed by third parties. Sometimes, it gets challenging to monitor how your money is doing out there in the hands of people that you trust as an investor. Blockchain technology assures you as an investor the highest form of transparency there is.

So, what type of businesses have shown uptake already within the blockchain technology?

Use Cases For Blockchain Technology

(1.) Financial Instruments Do you know that the underlying technology for digital currencies is based on the blockchain mode? Yes, digital currencies like bitcoin all depend on the blockchain facilitation in order to be operational. This is attributed to the fact that blockchain technology has cryptography features which link data and provide high-level data security. As an investor, you can consider funding start-ups that invent a new digital currency whose underlying technology is blockchain as this assures you of honesty and security of the project.

(2.) Public Records Again, due to the fact that blockchain technology stores data that cannot be altered by anyone other than the authorized network account holder, it means that if Governments and other organizations employ firms with blockchain systems in place to store public records then proper service delivery will be met even faster across the board. This use of blockchain to store reliable public data has proven effective in Estonia and Dubai where public information is now being stored through the blockchain. As an investor, you should be ready to allocate investment funds to start-ups that offer public records solution through blockchains as this is where the world is heading and it might just pay big time if you become among the first investors to explore this area.

(3.)Private Records

Just as blockchain provide cyber resilience and security in storing data with public records, the same can be applied in storing private data. Therefore, I would urge you as an investor to prioritize investing in start-ups that specialize in storing public data like personal wills through the use of blockchain. Many people across the world feel their privacy is in danger of getting in wrong hands and as such, blockchain technology could be the solution.

(4.) Physical Asset Keys

As people are investing in expensive assets like houses, cars, public bicycles, digital devices and so on, there is a growing demand to ensure that their money doesn’t go to waste through theft. And you can satisfy this demand as an investor by considering to enter into the business of offering reliable asset key solutions through blockchain technology that has high cyber resilience and security.

(5.) Securing of Intangibles

Currently, intangible data like ticketing, vouchers, and coupons that are stored online face serious manipulation from hackers causing companies to lose a lot of money. But this will not be for long if blockchain technology can be embraced to be storing such intangible data. And you can take up this opportunity as an investor through partnering in start-ups that are exploring this field.

As the digital revolution becomes clear and clear every day, the business world will have to change at a very alarming rate which will lead many investors behind and out of business. The blockchain digital platform provides you the unique opportunity to start exploring your business niche within the digital economy. Therefore, don’t be reluctant to explore the blockchain platform.