Top 5 Ways to Use Blockchain in Your Business Operations
                     Top 5 Ways to Use Blockchain in Your 
Business Operations 
Blockchain may have gained great momentum by providing the 
infrastructure for Bitcoin, but then, the Gen Z technology is 
disrupting big and small businesses, at large. Industry giants such as 
Microsoft and IBM have made significant investments in the 
blockchain, considering it will become an integral part of the 
business operations in the future. 
In a nutshell, blockchain is a distributed ledger maintaining a record 
of every transaction across each network spread over thousands of 
computers, hence reducing the chances of hacking to nil. It has 
emerged as a new alternative way to transact money and is 
transforming the way people run businesses. 
Here are top 5 applications of blockchain for 
your business 
1. Paperwork and recordkeeping. 
As an entrepreneur, you have to keep a record of your sales. You 
might catalog on paper or online. Blockchain enables storing of data 
such as correspondences, proposals, memos, receipts, contracts 
digitally, giving a clear image of what happened where. The most 
significant advantage of blockchain is the transparency and safety it 
brings against any malicious errors. The blockchain is an efficient 
method to manage paperwork which currently suffers at the hands 
of frauds and failures. 
 
 
 
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2. Supply chain management 
Another useful application of blockchain is supply chain management 
and quality control. For the same reason, Walmart has partnered 
with IBM to use the technology for managing supply chain to and 
from its stores. 
"Most of the things we buy are sold in components by a chain of 
suppliers to a company that congregates and markets the final 
product," says Phil Gomes on Eledman Digital. If a particular 
component fails, the brand will face a severe backlash. 
Using blockchain technology, one can easily find a perished or 
crummy component at each step making the whole process more 
streamlined.  
3. Transaction Histories 
Implementing a blockchain in your business will help you have a 
detailed record of debts and credits, guaranteeing that the data 
cannot be tampered with once it have been entered. The bitcoin's 
blockchain is distributed among a network of entities that validates 
the blockchain independently. The entities communicate with each 
other to ensure there is concurrence on the blockchain's accuracy. 
This structure provides an accurate transaction history without 
needing to rely on any third party such as a bank. 
 
 
 
 
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4. Smart contracts 
Smart contracts can help you handle numerous transactions. You can 
use them to integrate service across different businesses without 
revealing sensitive or proprietary information. 
As per Nelson Petracek, chief technology officer of TIBCO, smart 
contracts allows organizations to embed codes into a blockchain 
network for automatic handling of transactions across participants. 
5. Voting 
Just like the traditional currency, votes can be moved along a 
blockchain securely and accurately. Using blockchain as a mechanism 
for voting can strengthen democracy, empower the citizens and 
facilitate fair election results. 
Spansos quoted, "Voting can be one sector where blockchain can 
make waves". He further added that as long as we need 
transparency and accuracy of the votes, we have to trust blockchain 
results considering they are tampered-free.  
Wrapping up 
Blockchain has disrupted the conventional methods of doing and 
perceiving the business. But the question is- are companies ready to 
embrace this technology? Most experts say it will take time, but the 
adoption is inevitable. The development of this technology is still at 
nascent stages and will bloom once more and more companies dig 
deeper. If you're looking to expand your business, use these 
applications outlined to streamline your business process and 
increase sales. 
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Author Bio 
This is Sharon Winget, Staff Writer with GoodFirms, a review and 
rating platform of top IT companies & software. A tech geek at heart, 
I strongly believe technology can transform societies. I enjoy 
blogging about web design, email marketing, and content marketing. 
 
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