As we are heading to the year 2019, the mobile app development industry is all set to take up and meet new challenges. The mobile development scenario is steadily on the way to maturing and becoming more user- friendly. Android and iOS app development companies are working so hard to create apps that fully satisfy business needs and technical issues. The year 2018 has seen the evolution of app development go into new frontiers such as Artificial Intelligence (AI) and Internet of Things (IoT). However, one technology that is surely going to transform mobile apps scenario is ‘Blockchain’. If we want to know about the Blockchain technology and its usefulness to the application developers, then it would be worthy to discuss something about bitcoin technology first.
An Intro to Blockchain
Whenever we talk about the Blockchain technology, the word cryptocurrency definitely comes into the minds. It is powered by Bitcoin, Litecoin and other IPO backed cryptocurrencies that have valuations in the millions. Beyond that, the technology itself is quite remarkable. Now, you may be wandering how it is relevant to a mobile app? Well, let me tell you that this technology can also make mobile applications more secure and efficient, protecting payments and personal data. The Blockchain technology was created as a public ledger to store up all the digital transactions. Sooner, Blockchain can be used in any application to protect data by using sophisticated cryptographic algorithms. All the information stored in a blockchain is unchangeable and remains there forever.
The development of blockchain has diverse applications in the technological realm at present. In fact, blockchain-based mobile apps are increasingly getting popular across the globe. Do you want to know about all the tricks of using blockchain for your next app idea? Here, I am going to explain how blockchain for building mobile apps is a great decision for you.
Top 4 Benefits of Involving Blockchain technology in Mobile Apps
Secure Transactions for Online Business
Security is one of the prime features of blockchain technology. Blockchain allows users to make secure transactions with no third parties involved, which is a prime asset for online business worldwide. It has been also analyzed that this technology is very useful for applications such as Telegram, which is now used by several small business owners. With this app, companies build communities of loyal customers and people who are interested in their products. Such a platform would be incredibly beneficial for these type of companies if the app developers include a reliable system for users to make purchases directly from a seller. That’s when the role of Blockchain comes in!
Protects Creative Content
Creativity is something, which is not everyone’s cup of tea. There are many iOS and Android mobile applications available that help people share and sell their information, including freelance platforms such as Upwork or Freelancer and mobile apps such as Instagram or SoundCloud. These mobile apps and websites focus on different types of content, but have one thing in common: They are open for threat. In this case, by utilizing blockchain, violation of copyright laws becomes a difficult task because its easy to trace the original source as well as the source of the hacked copy.
Facilitates Direct Communication
Moreover, it is important to note that mobile platforms such as Airbnb and Uber can use blockchain technology to facilitate direct communication among stakeholders. This will save a lot of time because there will be no need to store large amounts of personal data. The identity of all the participants can be easily verified with no risk of exposing important financial information. All of its credit goes to system of private and public encrypted key. This, as a result, improves the quality of services.
Protecting Intellectual Property
Last but not least, when it comes to saving the personal property, blockchain is must! With the help of blockchain, users don’t need to rely on trustful relations anymore, as this system guarantees the safety of payments and protects information. Currently, intellectual property is actually a serious problem online. Blockchain provides a solution to this problem since its encryption system helps identify if a file is original or not. The data is stored on millions of computers, which is making blockchain impossible to hack. This provides value-added benefits for any business.
Types of Blockchain-Based Mobile Apps
Currently, multiple industries can benefit from the use of this disruptive technology. Blockchain-based apps are everywhere! Some of these industries comprise banking and finance, real estate, government, healthcare, and energy sector. This presents a huge opportunity for mobile app developers worldwide. Here are some of the common types of blockchain apps, which you must know-
Electronic Wallet Apps– This can store your digital assets and allow you to spend on transactions involve blockchain technology will be highly beneficial.
Stock Market Apps- An app for exchanging cryptocurrencies can make things easier for asset traders and miners. For instance- stock market apps, which allow you to have full control over your digital assets and trade with them.
Digital Asset Tracker Apps- This will provide you with updated information about the rates, cryptocurrency trades, market dynamics and a portfolio of various cryptocurrencies.
Retail Apps- Retail apps allowing its customers to pay through bitcoin or other based cryptocurrencies is another type of blockchain-based app, with 100% secured transaction.
Smart Contacting Apps- The implementation of Smart Contracts can benefit a company greatly. This is actually another facet of blockchain that can be used in mobile apps for driving automation.
Summing It Up
Without any doubt, blockchain is the most secure system and offers countless benefits for business. The industry is still developing and there are no signs of slowing it down. In fact, there is bigger potential for Blockchain than just finance. I hope that we will probably see the further development soon. If you have any amazing idea for building a blockchain-based app, then it’s time to hire Fluper. Top App developers here are adopting blockchain as part of their development process to ensure smooth and secure transactions in the apps.