6 Reasons Blockchain is a Powerful Tool
Entrepreneurs and innovators are looking into new ways to implement blockchain-based technology in their projects and in new start-ups, to disrupt and transform traditional models. Profede is a horizontal protocol capable of disrupting a global market. Profede’s solution has the potential to shake up one of the world’s largest markets, the professional world, currently monopolized by giant corporations and controlled by intermediaries. The recruitment and social selling industries are ready for technology-enabled change.
As there are many reasons why blockchain is being adopted by even big giants like most recently Amazon and Walmart, here is a look at the top 6 reasons why blockchain can be a very powerful tool.
1: Blockchain is a useful technology
Blockchain based technology has the ability to transform traditional businesses. The distributed ledger technology is able to eliminate large amounts of record-keeping, save money and improve IT solutions. Blockchain is a foundational technology that can be implemented by any size of company to better it’s economical, social or technical system.
Blockchain is useful as it removes the governing body by decentralizing the process. It is a peer-to-peer network with a distributed timestamping server, where information is exchanged between disparate parties. Each user is an administrator, eliminating an overseeing administrator. This type of technology is useful to speed up processes, reduce costs and increase efficiency.
For Profede the potential for disruptive applications built on the Profede platform is significant. Profede’s blockchain-based architecture and its potential benefits can transform and enhance traditional businesses.
2: Brings overdue change to critical functions
Today every transaction, contract and record is overseen by governing bodies that can take time to analyze, but with blockchain these critical functions can be kept up with, through digital transformation — blockchain enabled technology. In industries where change is needed to speed up processes, blockchain enables a future solution.
Blockchain will allow a world where every interaction between people and companies can be embedded in digital code and stored in a ledger. This process is transparent, secure and protected. Verified digital records and signatures would be stored, eliminating the need for intermediaries in the process.
Profede technology offers change for professional services, professionals looking for a job, recruitment, business-to-business and influencers by bringing an easy, quick and efficient way to share personal data while empowering the data creator by monetizing each transaction of sharing professional information. Profede enables:
- Scalable search through massive datasets.
- Data privacy and professional anonymity.
- Incentives to participate in the recruiting and social selling markets.
- Portable professional profiles and feedback ratings.
3: Security and protection whilst sharing valuable data
Blockchain stores data using mathematical and software rules that ensure security for users. Each transaction ever made on blockchain can be found on the accounting ledger. Each transaction has a unique cryptographic fingerprint and a key which is passed every time an agreement is made to share data. Each transaction has to be agreed upon before it is recorded and this is encrypted and linked. Blockchain is able to disrupt and transform the industries where data is highly confidential and where data needs protecting.
Today users give and share their data away everyday to online apps to use free services from them, some examples are Facebook, Google, LinkedIn and more. Data analytics firms use the data from big online companies that store your data that often lead to data breaches. Blockchain prevents this as each request to receive information must be verified by the creator of the data.
Profede offers a protocol where users have the power and monetize in the profit equation. Users earn each time they approve of sharing their contact details and responding to an offer, so that they always feel fairly compensated for investing the time and effort to study proposals. These transactions are protected through blockchain technology and each transaction is secure. Data breaches can be avoided as middlemen are not part of the transaction and can’t obtain and share your data.
4: Complete transaction accuracy
Recording transactions through blockchain means that each transaction is recorded in a ledger. Human errors can’t occur and data is transparent and accurate. Complete record accuracy is maintained on blockchain, allowing for perfect record keeping and financial tracking. Accuracy is perfected as users share the same protocol and distributed ledger for their data as opposed to individual copies on different ledgers.
Through Profede users, businesses and apps can keep complete track of their transactions. Professionals have a portable professional profile and feedback rating and will not need to rely on a centralized platform as they can keep track of all transactions with complete accuracy through Profede’s protocol.
5: Fast and economical transactions
Blockchain enables fast and economical transactions to take place without the need for intermediaries and high costs. Transactions can be fast, recorded and easy to be made by anyone anywhere. Ensuring that transactions can be authenticated and verified is made easy through blockchain as everything can be traced.
Through a single record-keeping digital ledger transactions can be completed faster and more efficiently which is shared among agreed participants through this blockchain enabled technology. As companies need to keep costs down, blockchain enables transactions to happen between two parties, eliminating middlemen.
Businesses are able to save money and time through Profede’s protocol. The targeted selection of professionals who are willing to respond facilitates communication, saves money and time for companies.
Thus businesses don’t have to buy expensive service packages. They simply purchase access to data that they are interested in. Businesses buy what they need, when they need it making the process of finding professionals, partners, services and more simple, accurate, and efficient.
6: Digital Tokenization
Blockchain technology enables tokenization, or earning tokens through the transfer of data on the internet. The products and services that create these tokens attain fluidity and liquidity making them global and compatible to all internet users. Earning tokens for each transaction on blockchain enabled technology means that you can own tokenized digital currency in your digital wallet.
Apps will have the perfect “engine” to incentivize professionals to join their platforms through the use of Profede: the possibility of being compensated in tokens. This is not only unique but it is highly attractive and also trendy as it is a new concept.
Earning tokens is a very new and trendy topic at the moment in the industry. It’s the age of cryptocurrency and what better way than to simply join a platform like Profede’s protocol. Today’s digital cryptocurrencies have become impossible to ignore as the combined market capitalization is worth more than $370 million according to Coinmarketcap data.
The use of Profede for apps has an advantage of gaining additional income from tokens obtained every time a business contacts one of their users. As often generating revenue can be difficult especially for apps, Profede’s platform makes it easy and efficient to gain a source of income. Likewise users earn tokens each time they approve of sharing their data with a contact request, so that they make money by spending time using Profede’s ecosystem.
The future will see a greater adoption of blockchain technology throughout different industries, where it will significantly impact the future. The blockchain world is likely to see a revolution in the near future that will change the way the world works.