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Blockchain and Enterprise Crypto Technology:The Future of International Business
Due to the overwhelming need for more secure, fast, and efficient transactions, blockchain and enterprise crypto technology has rapidly grown in the past decade. Emerging as the new way for businesses to conduct transactions, manage data, and operate in the global marketplace, blockchain and enterprise crypto technology has the potential to transform the way the world operates.
Creating a more secure world
In recent years, companies across the globe have rapidly begun to integrate blockchain technology into their operations, with some widely known US-based names like Visa, UPS, and Nike, and other international brands like China Construction Bank, Alibaba, and Saudi Aramco. As one of the largest payment processors in the world, Visa utilizes cross-border payments, identity verification, and tokenization, all of which contribute to a more secure and streamlined payment process for customers across the globe. Similarly, Alibaba, one of the largest e-commerce companies in the world, uses blockchain technology to minimize counterfeiting and theft, all while improving supply chain management using a distributed ledger system that allows the tracking of products. By tracking the provenance of goods on the blockchain, Alibaba is able to follow the entire lifecycle of each product from origin to its destination, ensuring that all products being sold on the platform are both authentic and have not been tampered with.
Opening up accessibility and opportunities
Not only are companies utilizing blockchain technology for security and management purposes, but also for greater flexibility and accessibility. By enabling faster and more efficient transactions, blockchain technology opens up a world of possibilities to companies by removing the need for intermediaries like traditional banks and financial institutions, and makes it easier to operate in countries with underdeveloped financial systems or for those that need to make cross-border payments. Circle, a blockchain-based payment platform built on Ethereum, allows businesses to send and receive cross-border payments that are both faster and cheaper than the use of traditional payment methods. Using technology like this, businesses have the opportunity to exchange funds with other suppliers, B2B customers, and businesses around the world.
Future outlook: Enterprise Blockchain
Although rapidly evolving, businesses still have time to adopt blockchain technology and integrate it into their current operations. The early implementation of this technology has the potential to give a competitive advantage to businesses, which may offer new and innovative solutions to their customers. Looking into the future as blockchain technology continues to evolve and become more mainstream, especially internationally, businesses that fail to adopt it risk being left behind.
Designed for institutions and enterprises, Shift Market’s suite of enterprise crypto solutions offers a range of services, including crypto pay, buy and sell with crypto, licensing and regulation support, and forex brokerage creation and setup. By setting up productive connections in the blockchain network, we can connect your enterprise to the world’s fastest growing technology. Learn more about Shift Markets mission here.