What is Blockchain and Why Does Your Business Need it?
Getting Familiar with Blockchain Thanks to the incredible hype surrounding bitcoin and cryptocurrency over the
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Blockchain Services Create Smarter and More Efficient Enterprises
In 2008, blockchain technology took the world by storm. And since then, use cases have evolved far beyond Bitcoin and crypto, extending to a wide range of use cases in myriad industries, from supply chain management to data security.
Given the abundance of companies that utilize or want to utilize blockchain technology development, many are turning to blockchain consulting services to help them determine how to best implement and leverage the technology, as well as explore new possibilities.
First, of course, it is important to understand what exactly blockchain networks are and why blockchain consulting services have become so popular.
Blockchain is a distributed, decentralized, public ledger that is changing the way companies think about data and data security. Its powerful and verifiable network is helping organizations across every industry take down efficiency barriers and reveal new business opportunities — all while guaranteeing the validity of information through an immutable system of registers.
Since its inception as the basis of Bitcoin, blockchain has gained a huge following and has been applied to numerous use cases. And as the technology becomes more and more popular, the need for blockchain consulting services is growing as well.
At BairesDev, we offer end-to-end Blockchain Consulting services to help you work in a smarter way, reducing risks and improving traceability and data security. They can also help you decrease transaction costs and create stronger business value for the future. Our enterprise consulting solutions are powered by top engineers with deep knowledge and extensive experience in providing global blockchain solutions.
We work with the Top 1% of IT Talent to guarantee the best results for our clients, every time.
What Is Blockchain Consulting?
Now that you understand what blockchain technology is, let’s explore the intricacies of blockchain technology development and consulting. This will help you understand the opportunities the technology presents and give you a better idea of what it can mean for your business and its future endeavors.
In a nutshell, blockchain consulting is a service that involves researching, analyzing, developing, recommending, and testing blockchain technologies.
This includes the documentation and maintenance of solutions, as well as their architectural integration with business logic. The goal of blockchain consulting is to translate business goals into technology roadmaps that clients can follow to achieve target outcomes and strategic goals.
While this is not precisely software development per se — although it can be — it does contribute to blockchain strategies and, ultimately, blockchain technology development and conceptualization. Consulting services do lay the groundwork for the actual software development.
Some companies that offer consulting will also perform the development itself, like BairesDev. That means you can rely on a partner to make recommendations about how to boost your efforts and improve your business model and actually create real, concrete solutions for you or with you. It is a “best of both worlds” approach to incorporating the technology into your business, leveraging top talent and ramping up your services.
What Does a Blockchain Consultant Do?
Blockchain consulting has an abundance of use cases. From supply chains to UX in web development, smart contracts to patient healthcare records, you will find that blockchain affects numerous business processes. When paired with additional technologies, such as artificial intelligence, blockchain is present in an even wider range of case studies. You have almost certainly used it before, perhaps without even realizing it.
So, what, exactly, does a blockchain consultant do to bring this technology into your fold?
A blockchain consultant may work independently or with a blockchain development company to assist companies and clients with building and carrying out their blockchain strategies. They will discuss the business case for implementing blockchain protocol and explore the business value it will generate.
Blockchain consultants will work with your team to identify opportunities. They will spot potential holes within your strategy and problems the technology could help address and resolve.
These professionals will be instrumental not only in the blockchain development process itself but will also identify how the technology might work with your other tools, such as artificial intelligence, especially as we head into a Web3 world, where people will increasingly rely on blockchain networks.
The blockchain consultant will identify the business models that are most appropriate for their clients’ needs, depending on your organization’s purpose and mission.
Blockchain consulting also involves helping your team learn how to use new blockchain solutions through training workshops or other means, as well as using the tools behind them. They will educate your team members on the importance of the technology, why it matters, and how to generate value through it. This onboarding process is crucial because some workers may be unfamiliar with how blockchain works and fits within your larger business.
Blockchain Consulting Enterprise Software Solutions
Engage custom enterprise blockchain consulting services that support your current IT goals, business models, and operational processes.
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Custom Application DevelopmentCustom blockchain application development turns your innovative ideas into a reality. We prioritize usability, performance, UX, and product quality to create impactful blockchain platforms that maximize value while keeping your project on time and on budget. Our tailored-fit solutions seamlessly integrate your operations into a blockchain project ecosystem.
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Strategy and TrainingBased on an in-depth analysis of your company’s context and goals, our enterprise blockchain consulting team will devise the ideal blockchain strategy for you. Taking into account your business infrastructure and key facets of your industry, we will also provide the necessary staff training workshops and support to accelerate your digital transformation journey.
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MVP DevelopmentFollowing a proof of concept or prototype design, our MVP development service helps futuristic minds take their blockchain projects to the next level. Using Lean and Agile software development methodologies, we will help your company maximize its returns through blockchain innovation — from single feature MVPs to long-term prototype design.
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Solution ConsultancyGet immediate access to the best blockchain consulting services and unlock the full potential of this technology. Our solution consultancy services help you analyze all of your current workflows and software solutions to determine how and which blockchain applications will create the most value for your company.
Our Services
From fully managed teams to individual expert blockchain consultants, we provide top blockchain development services via three main service models. Take a look at the services we offer to learn more about how we can best support you and your business goals.
How Blockchain Consulting Works
When a business works with blockchain consulting services, it can upload and store select information on a blockchain, where it exists as a shared database. This implies that its records are public and easily validated, but most importantly, they are secured via cryptography. Data is hosted by millions of computers at the same time, and it is accessible through the internet.
Depending on your business needs, the process involved in working with a blockchain development company will vary. However, in our experience, most blockchain consulting processes go through these steps:
The Benefits of Hiring a Blockchain Consulting Service
The benefits of blockchain application development spread far and wide. Today, blockchain is transforming supply chains, reducing transaction costs, and ushering the world into a new era of digital solutions — the Web3 or Web 3.0 era. The business case for introducing blockchain protocol to your organization is clear, and with the right software development company by your side, the possibilities are endless.
Transparency
Blockchain is a distributed ledger that increases transparency among transactions. Every participant in the system has access to every document but needs permission to share or update them. With the right blockchain consulting services on your side, you will find that people will rest assured by the increased visibility and insight.
Improved Security
The right blockchain consulting services will help you ensure the security of your projects. Blockchain itself means that information is recorded and stored across a network of computers that are connected through a secure validation mechanism, making it very difficult for hackers to compromise any data.
Increased Efficiency
Everyone from your managing director to your individual contributors to your CEO will appreciate the increased efficiency a blockchain consultant can bring you. As your development company will explain, the system works using a single digital ledger, and the efficiency of data management increases. Everyone has access to the same information, which facilitates trust, eliminates technical inconsistencies, and incentivizes more efficient work.
Decentralized Collaboration
Your blockchain consulting company can assist you with implementing a blockchain solution that leads to greater collaboration, no matter what the project — from web development to creating a custom mobile app. Because anyone on a global scale can transact and participate on a blockchain, this leads to a more collaborative environment. But, since transactions are recorded across different computers and not in one single location, no record can be altered without changing subsequent blocks.
Reduced Costs
For companies engaged in transactions of any kind, blockchain services are a natural fit. Blockchain consulting roots out any issues related to trust, thus reducing the cost of hiring third parties and intermediaries to ensure the safety of digital data and transactions. Instead, all contracts are stored as data on the blockchain, which all parties can access in the form of a single, immutable version.
Speed
Paper-based processes are extremely time-consuming and are prone to human error. With blockchain consulting services, these processes become smart, automated, and streamlined, vastly reducing clutter and boosting the speed of transactions, negotiations, and most types of operations.
On-Demand Blockchain Applications
Blockchain has grown considerably in recent years, in terms of the breadth of possibilities, the number of use cases, the industries that are embracing the technology, and the entire concept of what it could mean for the future. By working with a blockchain consulting company, you can unlock the power of this transformative technology and reap the rewards for your entire organization — and your consumers.
These are some of the most popular ways organizations are applying blockchain — but this list is by no means exhaustive!
Smart Contracts
Ethereum is the specific blockchain project created for this application — smart contracts. When certain conditions are met, distributed ledgers coded for the creation of simple contracts can be executed immediately, without the need for any type of intermediary, speeding up the process and making it much more hassle-free.
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The Sharing Economy
By allowing peer-to-peer payments, blockchain enables direct contact between parties giving way to a truly decentralized sharing economy. We all know how convenient, cost-friendly, and efficient the sharing economy is.
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Crowdfunding
Blockchain consulting services can also help you facilitate crowd-sourced venture capital funds with a new prototype of economic cooperation.
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Governance
Distributed database technology can help bring transparency and accessibility to the polls with the help of Ethereum-based processes.
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Supply Chain Auditing
Distributed ledgers provide date and location timestamping that coincides with a certain product number to certify authenticity on any supply chain. This allows for greater transparency and closer monitoring of your processes.
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File Storage
With InterPlanetary File System (IPFS) data can be distributed throughout the network to protect files from getting hacked or lost. This will help you protect your data and, in turn, your business itself.
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Protection Of Intellectual Property
Protection Of Intellectual Property Smart contracts provide added protection, can automate sales, and help reduce the risk of file copying and redistribution.
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Internet Of Things (IoT)
Blockchain can enable the automation of remote systems management, improving cost monitoring and increasing system efficiency. In fact, the IoT and blockchain go hand in hand, digitizing the modern world and making all types of connections and transactions more efficient.
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Stock Trading
Finally, blockchain consulting can potentially allow any company to execute trade and capital confirmations under a peer-to-peer model without the need to rely on intermediaries. This is a godsend for the world of finance and wealth management.
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Ready to build your software?
At BairesDev, we can develop your product from start to finish or handle individual segments of the process for you. We offer world-class software product development services from requirements and systems analysis, architecture and design to development, testing, migration, and deployment.
Our blockchain consulting services are unrivaled, and we will work closely with you and your team to determine the best solutions for you and your business. Find out more about how BairesDev can help you implement world-class technologies into your business strategy, ushering your organization into a new age.
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Are you ready to get started with BairesDev’s blockchain consulting services? Whether you are looking to improve and distribute patient healthcare records, facilitate stronger supply chain management, or create a smart contract, we can boost your blockchain development efforts while you focus on your core competencies.
Our blockchain solutions will set you up for a successful future — no matter what your business or industry. Learn more about our services, approach, and strategies.
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