Blockchain

Be at the forefront of transactional technology. With blockchain innovation, ensure traceability, transparency, and security.

Why is blockchain the future of transactional technology?

Transactions are complex with as many ledgers as there are stakeholders involved, making it prone to human error and fraud. They rely on intermediaries with a paper-laden process, which creates inefficiencies. The emergence of blockchain is revolutionizing, simplifying and securing how we process transactions.

is the expected worth of the global blockchain market by 2024¹

  • 30% 30%

is the potential of decrease in bank infrastructure costs that blockchain could trigger¹

  • 90% 90%

of major North American and European banks are exploring blockchain¹

Why is blockchain the future of transactional technology?

Transactions are complex with as many ledgers as there are stakeholders involved, making it prone to human error and fraud. They rely on intermediaries with a paper-laden process, which creates inefficiencies. The emergence of blockchain is revolutionizing, simplifying and securing how we process transactions.

Transactions before blockchain:
Transactions with blockchain:

How can blockchain benefit your organization?

Blockchain leverages cryptography using computer algorithms to process and record transactions in real-time, removing the need for a third-party intermediary. Built with modern web technologies; it enables faster, cheaper, more reliable and more secure transaction processing than any other existing technology.

Learn how FAHM Technology Partners application of blockchain can benefit your organization:

  1. Security

    Living on a decentralized system and using complex cryptographic algorithms, each transaction your organization takes part in, becomes an immutable and inconvertible record that is verified within the network. Forging data in this framework is virtually impossible, therefore, the authenticity of the information can be guaranteed, all transactions will be effectively completed, while user’s private information is more secured than ever.

  2. Efficiency

    With blockchain, your organization streamlines processes when settling transactions, being on a decentralized system that uses exclusively digitized information, all transactions occur directly between two parties and don’t require intermediaries or a paper trail. The process is more efficient, thus saving time and money, without compromising security and auditability.

  3. Auditability

    Does your organization’s activity require source data to verify assets authenticity, provenance or history? With blockchain, each transaction is recorded sequentially on a decentralized system, it provides an ineradicable audit trail for the life of an asset even when several parties are involved in handling the asset.

  4. Traceability

    Blockchain also ensures the traceability of assets and their components. Can you envision the strategic benefit to your organization of being able to track transactions or goods, their origin, availability, and location in real time?

  5. Transparency

    As its technology is shaped to be transparent, blockchain is an asset in helping your organization build trust with its clients, partners, and suppliers.

  6. Confidentiality

    With blockchain, your organization can build permissioned networks where each stakeholder has a specific information access on a need-to-know basis; it effectively ensures the privacy and confidentiality of your organization’s information.

What are the applications of blockchain?

While it has been utilized most notably in the finance industry to facilitate cryptocurrencies, international payments, remittances and complex financial products; the potential applications for blockchain technology are numerous:

Blockchain is creating new opportunities in many industries including:

  • Finance & Banking
  • Healthcare
  • Defense
  • Construction
  • Luxury Goods
  • Government
  • Automotive
  • Insurance
  • Higher Education
  • Supply Chain Management & Logistics
  • Real Estate
  • Internet of Things

How can FAHM Technology Partners help you make use of blockchain?

FAHM Technology Partners analyzes your environment, your needs and your current portfolio of digital assets to identify opportunities. We advise you on how your business can benefit from blockchain, and design a solution tailor-made to cater to your organization’s specific needs.

We develop blockchain applications for:

  • Identity Authentication
  • Transactions & Payment Management
  • Smart Contracts
  • Customer Profiling & Customer Services
  • Loyalty Programs
  • Supply Chain, Procurement, Fulfilment & Operational Efficiency
  • Reporting

Learn how cloud computing can increase the efficiency and scalability of your IT infrastructures?

Find out more about cloud computing

Discover how our web application solutions can add functionalities to your digital assets, even your legacy systems.

Learn more about web applications

Sources:
1. https://expandedramblings.com/index.php/blockchain-statistics