Blockchain technology is a new concept for many and for others not so much. It is the innovative technology that supports the creation of different cryptocurrencies. Blockchain goes beyond cryptocurrencies and could be a solution for the digitization of your company.
Blockchain is a distributed ledger, which is a system that allows you to keep track of all transactions carried out. In this case with cryptocurrencies, it enables a fair and transparent system of accounting for money and transactions and serves as an alternative to SWIFT (a system that is deployed by many banks to process transactions).
The blockchain is a very safe, very cheap and fast system. Its security is due to cryptography, and it reliably protects all personal and financial data of users who decide to use this way to make their payments.
Blockchain for SMEs: How will it improve your efficiency
Surprisingly the major institutions that have deployed blockchain are banks, insurance companies and wall street firms. Yes, banking and insurance, the industry that seems to be against blockchain and cryptocurrencies.
SMEs have been slow to adopt blockchain technology despite the apparent benefits that it provides to their businesses. This is largely due to the misconception that blockchain is for highly technical people and complex.
This is simply untrue and small and medium-sized businesses have the potentials to increase their efficiency. In addition to improving its efficiency, and having control of all its transactions, the blockchain has a high-performance security system, which protects the data of all users who make a purchase and that of the company.
There are tons of blockchain solutions in the market that promises different solutions for SMEs but not one as focused as MSMEs. MSMEs is an innovative blockchain platform that wants to help SMEs to leverage blockchain by providing different products.
MSMEs allow businesses to accept payment for products sold and services rendered within a couple of seconds and enable customers to get what they pay for quickly. They can also get access to funding using its decentralized finance product Truss.
Truss connects businesses seeking to get funding with investors and ensures that investors receive rewards for their investments.
More developments in store for MSMEs
Businesses can join its ecosystem by purchasing the tokens with MSMEs set to launch more than 20 applications in the coming weeks. MSMEs will also be launching a network system where users can earn rewards for promoting its ecosystem.
MSMEs has already launched a $100,000 bounty program where participants stand a chance to win free MSMECOINs. In conclusion, MSMEs is well-positioned to become a significant player in the blockchain space in the coming months.
To learn more about MSME follow the links below: