In this digital tokens hype nowadays, many corporations understand that changes are waiting to be applied in real-life business. It was not so hard to predict that by the time many brands will jump into blockchain technology. This is happening right now.
Companies all over the world recognized the importance and benefits of blockchain and decided to improve and expand their business. Respectable and luxurious brands such as Nissan, Hyundai, Škoda, Lamborghini, Audi, BMW, Porsche, Ford, McLaren, Starbucks, Pepsi, Hennessy, Nestle, KFC, Red Bull, Heineken, Jack Daniels, GAP, Lacoste, Puma, H&M, Zara, Givenchy, Gucci, Philipp Plein, Hermes, Yves Saint Laurent, Ray Ban, Loreal, Hugo Boss, Estee Lauder, Nivea, Ralph Lauren, Balenciaga, Prada, Dolce & Gabbana, Burberry, Cartier, Tiffany & Co, Disney, Netflix, YouTube, Visa, Instagram, Time Magazine… already dived into the blockchain reality.
Also, 90% of banks in Europe and the United States are analyzing blockchain benefits to fit them into their business.
WHAT IS THE REASON FOR THIS BLOCKCHAIN TREND?
If you are asking why would companies and brands accept blockchain technology, the answer lies in several reasons:
Security– blockchain provides security and constancy. It is recognized by those who require secure and reliable transactions and data storage.
Efficiency: blockchain is cost and time efficient. With the blockchain, transactions happen very fast (since there is no need for a third side such as banks) and the operation costs are lower.
Data Integrity– all changes made to data are recorded with blockchain technology. It helps identify all data errors. Data can’t be modified and deleted.
Transparency– is one of its best features. As open-source software, blockchain allows all participants to track transactions and trade confidently.
Innovation: getting involved in the blockchain is a great way to keep up with new technology trends. It helps change business for the better and to expand it. Blockchains operate with different cryptocurrencies so it provides new payment methods.
IS THE NFT TRADING PROMISING?
It is important to understand that many branches of the industry today rely on blockchains. A great example is NFT trading. These individual tokens are used to trade digital goods as digital collectibles. Most of it is under the patronage of the Ethereum blockchain.
NFTs have a special convenience for artists and companies who are selling their artworks. Whenever an artwork is sold or resold, a part of this profit automatically belongs to the artist.
Of course, it also makes trading easier, safer, and quicker.
This is why a lot of artists are developing their businesses on NFT and trading digitally.
The future of blockchain technology is revolutionary and highly promising. As more industries accept blockchain technology, it will expand on its functionality and will be used for new use cases. This will provide a lot of possibilities for the global markets. By becoming open to the blockchain, companies stay competitive in markets and attract new clients who appreciate having different options and paying in crypto.