You might have heard of this buzzword before. It sounds exciting and cutting edge and is the driving technology behind bitcoin technology. But you might be wondering how can we use blockchain in mobile apps?
As always, it’s important to understand what blockchain is. It’s a list of records, called blocks, that are linked and secured using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp and transaction data. It is impossible to modify data within a block without affecting all other blocks.
It will take some time for technologies like bitcoin and blockchain to integrate into our lives but developers are have already been experimenting with it in mobile apps. This brief guide seeks to educate mobile app developers and entrepreneurs on the blockchain and its use in mobile apps.
What’s all the hype about?
In short, the blockchain decentralizes the authority of online transactions. It’s an anonymous system of verification and transaction initiation. It is egalitarian by nature and marks a revolutionary shift away from traditional payment methods.
Blockchain provides users with a secure and transparent way to perform different operations and can be implemented in various industries from education to government. It became closely associated with payments and Bitcoin thanks to its popularity. And no wonder - decentralized secure peer-to-peer payments are taking down the cost of operation and marking a new era in financial services.
Since then, numerous startups have taken advantage of blockchain and incorporated them into their ventures. The two key benefits of blockchain technology - transparency and security, can be applied anywhere where sensitive information requires an extra layer of protection. Medical records, cloud storage, elections and voting, identity protection, certification - you name it.
A new way to pay
iOS 10 opened the door for developers to allow blockchain payments. It’s a monumental step for social payments systems. A recent partnership with the and Apple now allows users to send payments through iMessage. As you can see, it is well on its way to being a regular part our digital experience.
Being able to leverage blockchain technology can open doors to a whole new world of consumer protection and confidentiality within your app. The community is confident that it will become the new industry standard for encryption and privacy.
Blockchain provides its users with a trusted and low-cost option for payments, eliminating the necessity of intermediating third-party by using encrypted distributed ledgers that are serving for real-time secure transaction verification. It makes financial transactions fast and reliable. No wonder banks and financial structures are the forefronts of adaptation of blockchain.
The future of blockchain
While finance seems like the extent of which the blockchain can disrupt. There is a lot of opportunities to leverage it elsewhere such as healthcare and cloud storage. Developers are finding new ways to integrate the blockchain in their apps.
Blockchain has shown its strengths in cryptocurrencies and still, startups are discovering the full potential of this technology. There are countless ways of implementation and not limited solely to cryptocurrency.
Medical startups Iryo, Nebula Genomics, and Doc.AI were named one of the most promising European healthcare startups that have blockchain in the core of their business models. From creating a secure medical record ecosystem to diving into the secrets of the genome, they have you covered.
Follow My Vote created a voting platform of the future which they hope will provide a convenient possibility for online voting while giving the governments and organizations a secure voting tool that ensures each voter’s privacy and identity protection.
Blockchain technology didn’t spare the IoT industry. WoTT, UniquID, SmartAxiom, BiiLabs, and others are working on protecting data and creating secure decentralized IoT ecosystems to control connected devices.
Blockchain technology is not a privilege of large corporations and startups with millions in funding. Smaller businesses can also make use of this novice and secure their practices with it. Are you looking to create software and incorporate blockchain in it? Trio is your partner in excellent software development.
From the methods of implementation to creating the final product, our software engineers with address all your concerns and help you find the best way of turning your ideas into user-friendly software. Whether it is a mobile or web application, we have specialists ready to join your project. Sounds interesting? Tell us about your ideas and let’s see how Trio can bring them to life!