Can Blockchain Technology Strengthen The Mobile Application Industry?
Passing a day without our mobile phones is the worst nightmare which can cause our hearts to run for a beat. Telecommunication devices have come a long way ever since the discovery of the first telephone designed by Alexander Graham Bell. The modern-day mobile phones are handy, attractive, and highly work efficient. Studded with an array of robust tools and services, mobile phones help us to streamline our work in the best possible way. Growth in the popularity of mobile phones led to the evolvement of a new technological sector of Mobile Applications.
Today, technological firms are putting in their best resources to curate mobile applications that have the potential to ease out the burden of the user. One can find an application for the management of important activities like banking, shopping, dining, education, traveling, learning, and gaming to trivial activities like keeping a track record of drinking water, footsteps, etc. Crypto exchanges have started investing in this arena, check the B2Bx mobile application to find more. As technology expanded its roots, the mobile application industry flourished manifold times. The infusion of blockchain technology to support mobile applications is the most popular advancement of the current times.
This article will explore the advantages of using blockchain-powered mobile applications and how decentralization can be the next big change for your business. Have a look:
How Blockchain Enhances Mobile App Security?
Highest security standards
With blockchain comes the assurance of security, transparency, and immutability. The three pillars of blockchain technology strengthen the core ecosystem of the business entities they are employed to. Data is recorded or encrypted using cryptography in the chain of blocks. Each block has a timestamp of the other blocks, which restrains the loss of data in the network. All the participating nodes have complete access to the data, and so alterations or deletions cannot go unaddressed in a blockchain system.
Blockchain is playing a significant role in the field of Domain Name System or DNS. The technology provides full control over the domain records making it difficult for an intruder to tamper the entries.
Better transparency
Presently, one needs to download mobile applications from Apple’s app store or from the Google Play store. These platforms approve the apps for sale, and this is rather unfair on the part of the customer’s sovereignty as all the decisions are taken without proper clarification or transparency. However, with blockchain technology comes transparency. The pedagogy is simple, and whatever happens on the decentralized ledger is visible to all the participating nodes or users. Thus, ensuring clarity for the customers in all forms.
Safe payments
Multiple mobile applications require charge or fee in lieu of their services. The customers need to pay from credit or debit cards, internet banking, or e-money. Sharing of passwords or codes can put your funds at risk. Blockchain uses digital wallets that are present within the platform. Thus, the user does not have to worry about fraud or cyberattacks. Also, the users will be allowed to pay using the app coins, which are stored in the digital wallets.
Ease of operation
One can run a blockchain-backed mobile application on any mobile phone. A user need not spend hefty amounts to buy blockchain smartphones such as HTC Exodus 1 and Finney from Sirin Labs.
Enhanced Advertising Tactics
Blockchain technology can help in popularizing the application through innovative advertising modules. As it is comparatively new, the developer can take the early bird advantage as more people will prefer to explore a new concept. Through digital rewards and wallets, one can make their mobile application more attractive in comparison to competitors.
Better infrastructure
The decentralized infrastructure of a blockchain-supported mobile application will be infused with a systematic interface for speedy and secured operations. The users can enjoy streamlined processes and efficient services.
Conclusion
Blockchain is the future of financial and industrial domains. The exciting chain of advantages offered by the decentralized ledger system is evident to one and all. By bringing together blockchain technology and mobile applications, we can lay the foundation of a revolutionary product that has all the useful characteristics one can think of. The opportunities are vast for blockchain, and we can expect a lot from it in the coming years. So, pull up your socks and see the advent of blockchain technology in the mobile apps arena.
