Benefits of Industry-Specific Blockchains
Benefits of Industry-Specific Blockchains
These days it feels like there’s a blockchain for everything. That’s true and its because of the wide range of possibilities offered by blockchain networks. A blockchain is basically a digital ledger for your transactions, which can be of any nature. What makes it different from the contemporary system of record keeping? Well blockchain networks are immutable by nature, which makes them a perfect candidate for storing sensitive information.
The immutability of blockchain network is due to its working, the digital ledger stores its information into all of its nodes. This means that in order to make illegal changes in the network, an attacker would have to change the information in all of the nodes, which is practically impossible. However, there are still ways to hurt the network, like 51 percent attack.
The benefits of blockchain outweigh the risks and many networks offer the service of blockchains to different industries to use. DasCoin’s DasNet is one example of how a crypto network is encouraging mass usage of blockchains by offering to create industry or company specific blockchains for their customers.
Network of Interoperable Blockchains
Through this service, DasCoin is able to extend the use of its network to different industries and create interoperable blockchains for companies from all sorts of backgrounds. DasCoin has already announced the creation of its first fashion blockchain.
By allowing companies to access the benefits of blockchains, DasNet is allowing them to enjoy the speed, security and efficiency that is provided by blockchain networks.
When the network grows and companies from different industries acquire these blockchains, it will become easier for companies from different background to utilize the service of each other. This in-turn will create a whole Ecosystem of blockchain backed, interoperable companies.
By acquiring a blockchain of DasNet, the companies will not only be shifting their services to blockchain but also gain the technical, business, marketing and customer support of the underlying Das Ecosystem. This will help the companies in optimizing their performance.
Is it Risky?
The move to a different system is always risky, there are operational costs, training costs and setup costs. However, the benefits being delivered by blockchains will help optimize the performance of whichever company employs it. Furthermore, joining an ecosystem of blockchains, as offered by DasNet, will allow the company to not only enjoy the benefits of blockchain but also the benefits of being connected with companies from other industries in the ecosystem.
Every move is risky but the decision to move a business to blockchain may just pay off. But of course, before making any decisions, it is important to perform a risk analysis and have a deep understanding of how blockchains work and what impact they can have on the performance of the business.
Another benefit of DasNet is that any business that chooses to adopt the blockchain of the network will also be able to create their company-specific crypto token. This token will be backed by the underlying Das Ecosystem blockchain and will also be exchangeable with the ecosystem’s native token.
Staff Writer
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