Ever since inception, cryptocurrency has been the most popular use of blockchain technology. As time progressed we have gained more insight and started to realise that Blockchain can be deployed in almost every industry. It goes beyond just cryptocurrency, industries operating on trust to form agreements between two or more entities can truly benefit.  

Nowadays startups seem to be materialising all over the place! Set up by ambitious and young entrepreneurs, they are increasing at exponential rates. With this growth, it is becoming increasingly evident that the existing systems in place are struggling to manage the inflow of countless contracts and large volumes of data without compromise. Trust as a hot commodity is becoming difficult to maintain, especially when systems are working overtime to keep up. The threat of someone’s trust being breached continues to loom.  

With the introduction of new technologies, businesses are looking to streamline their systems and break free from traditional centralised systems. Blockchain technology is constantly evolving. Innovative networks such as Alacrity are paving the way towards a seamless and more efficient future. This groundbreaking protocol was designed to tackle and solve limitations facing other programmable blockchains. Find out more

Blockchain as a concept can be difficult to navigate at first, not to worry, no matter how challenging a traditional idea may seem, technology can make it look simple and seamless. Whether just starting up or scaling, blockchain can help businesses in so many ways. The following solutions can help start, grow and protect.

Simplify Capital Raising

Blockchain offers an alternative solution to the traditional fundraising process. The technology creates transparency and fairness. Pre-existing companies and start ups wanting to raise capital against assets can convert these into digital tokens. Digital tokenisation allows a wider audience reach, it is borderless. Alacrity’s blockchain technology enables users to enjoy zero transaction fees for token transfers, ideal for new startups, who can then use the Alacrity Network to create Dapplication for fundraising services. Users are able to convert assets into digital equity, later used to generate funds from the global community. 

Cloud Storage

Cloud storage is the perfect example of centralised data storage. Up until now it had been largely controlled by a handful of powerful corporations, achieved by renting out their own storage space. Blockchain technology is working to introduce a more efficient solution, instead of renting out storage on a centralised server, computers in a blockchain network use each other’s unused hard disk space to keep data. Enter Alacrity, a network that provides users with decentralised storage, while ensuring internal security, authenticity and cost reduction.  

Secure Payments & Transfers

Since blockchain has roots in cryptocurrency, it only makes sense that the technology is well known for money transfers. Using blockchain, funds can be securely transferred to anyone in the world almost instantly. That’s not all, these transactions charge lower fees,  better yet, they are completely free using Alacrity. This is especially useful if you have remote employees or are involved in the global marketplace.  

With Alacrity, businesses will be able to sell their services and products through applications developed in the network.  These apps will of course be able to accept any payment methods, Alacrity’s ALA coin will enable free transactions.  Find out more.

Smart Contracts

Smart contracts have been in use since 1993, naturally they became associated with blockchain. In short, smart contracts are computer protocols intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. These make the need for third parties who enforce contracts obsolete, which in turn significantly reduces transaction costs. 

Blockchain platforms can use applications which enable customers to rent anything from bicycles to apartments, simply by unlocking a smart lock after both parties agree on the terms of the contract. This brings us to the topic of native tokens such as Alacrity’s ALA coin, used in an internal network in any way that the company can design for use as a token of trust. For example, these tokens can be used to grant ownership, pay for work or transmit data.  

Boost Cyber Security

Security,  particularly cyber security is ever increasing in demand and necessity. Forbes report that 2018 reached a peak security-wise. Governments, educational institutions and big name enterprises fell victim to elaborate hacks. Today almost 80% of CEOs and board members single out cyber security as one of their top priorities. 

Interestingly, Blockchain based solutions are among the commonly considered options (and not. just among business leaders). Blockchain’s technology offers a solutions for many security problems including digital identity and fraud.  With this technology, identity can be uniquely authenticated in an irrefutable, immutable, and secure manner. As a better and cost effective solution to the plague that is fraud, Blockchain offers a decentralised and comprehensive system.

With this decentralised system, hackers will no longer have a single point of entry, or access to the entire repository of data in the event of a breach. This innovative feature is one of the main reasons why businesses are now seriously considering blockchain as a data privacy solution. As more and more companies join, the system will become more sophisticated, integrating data while keeping it decentralised and free from misuse.