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Blockchain for the service industry; how decentralization can help the service industry!

Feb 25, 2018 Posted /  3489 Views

Blockchain for the service industry; how decentralization can help the service industry!

1. Current situation of the service industry

The service industry is on the rise but not with that high-speed as it can.
Similar to any other industry, the service industry is doing its best to keep in the swim. But there are yet a few problems slowing down the evolution.
Capital: It’s not that uncomplicated to get the funds to establish a new business. It’s not possible all the time to obtain a loan since banks may consider you are too old or too young, your idea will not be in demand or your credit story is not good enough.
Human resources: In contemporary realities, the service industry needs highly-qualified employees. It’s not sufficient to find skilled people as well as prepare them.
Info: These days, information is one of the most imperative resources. The Internet has made information transfer quicker as well as simpler. Nonetheless, there are loads of people drawn in the transfer chain. Hindrances in communication among the links take a great amount of time.

2. How will Blockchain help out?

Current Blockchain technology is capable to crack the aforementioned problems.
Capital: You are capable of launching your own ICO to acquire the money to begin a new business. If the idea is good plus offered correctly, it can raise funds.
Human resources: The distributed ledger makes it easy for finding a good employer. Blockchain makes it simpler to check the skills, education, work experience, etc. Moreover, Blockchain gives the communication amongst departments and the managers which perk up human resource management.
Info: The decentralized system permits sharing information on time. All information is speedily distributed amid the nodes. The information amassed in Blockchain cannot be altered as well as at the same time, you have the right to see how the business processes are going.

3. How can Blockchain perk up the hospitality sector?

Hotels will get extra info regarding tourists with facilitated check-ins.
Blockchain stores every information. Any kind of defiance will become openly accessible. Furthermore, you can verify a tourist’s or a hotel’s, as well as its employees, reputation before making any reservations.

4. How will it help the catering business?

Every day catering business has to correspond with various logistic companies, food, etc. The supply chain is somewhat extensive. Every food product has its own expiry date. Expired goods are an appalling spot on the status of the food brand. Blockchain fixes the data about the delivery time, food, and storage conditions; in addition to this, it also indicates decayed products.

5. Can blockchain be used in the insurance industry?

It can boost the trust amid clients and insurance companies, thus to avoid frauds. The insurance companies note that there are trust problems amongst their clients. The network of insurance computation, high charges, and less effectiveness dishearten the consumers. Decentralization is transparent; it can reinstate the conviction to how the system functions. The Smart contracts permit to make insurance contracts more reliable. The code will be involuntarily accomplished if an event happens. Using the decentralized register, insurance companies, customers, manufacturers, as well as others can make out all the history of the goods, plus even test out if it was stolen or is a sham.

6. How will Blockchain benefit e-commerce?

Decentralization can help the E-commerce industry by bringing credibility, transparency, fast transactions as well as low fees. Blockchain creates every process transparent to everybody. Smart contracts will check whether you get goods/services or funds. Additionally, there is no third party caught up as well as it decreases expenses considerably.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: service industry Decentralization blockchain

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