Bitcoin and Blockchain Utilized for Business

Today the names of online businesses are viral all over the world including in indonesia blockchain technology used including bitcoin and others, blockchain technology is more known as technology behind virtual currency like bitcoin, ethereum, ripple, and so on. However, actually blockchain technology can be exploited widely to promote businesses and companies that can be reached widely by people around the world.

For example, Singapore is utilizing blockchain technology to assist in terms of business activities at the port. This technology can be used to shorten the waiting period of the ship or dwell time, also to verify export-related transactions and imports of products developed abroad.

"Companies can do smart contract with blockchain technology for export and import because this way can be easier and has big import value for the company.

Leonard said, blockchain technology can also be utilized by the banking industry and financial technology (financial technology / fintech). With this technology, the two finance industries can easily verify and online payment transactions whenever they can be needed.

Nevertheless Leonard revealed, it has not been able to ensure blockchain technology is commonly used by the banking industry. However, he believes there are many fintech companies that use the technology.

Even so, Leonard also admitted there are still many parties who doubt with blockchain technology. How not, this technology is closely related to the virtual currency with another name cryptocurrency.

In addition, blockchain technology is also often questionable validity. In fact, blockchain technology is actually quite valid and secure.

Just for information, blockchain technology serves to record transaction data. Transaction records are incorporated in many interconnected and secure blocks.

Blockchain technology is claimed to be potentially and suitable for recording multiple data, not just virtual currency. Business activities, transaction processing, documentation and many more, to the votes considered to be benefited when utilizing this technology here we can look for extraordinary profits.