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Opportunities in blockchain that can’t be missed

27th April 2021 Print

Whilst the blockchain technology isn’t exactly something new, it still a space that hasn’t reached its full potential just yet as opportunities within the tech are still being explored, it certainly moved into the mainstream earlier this year with the emergence of the NFT market and the huge numbers that quickly followed, and as the crypto market as a whole has a become more accessible through acceptance in different sites, particularly in the online gaming space where players can take advantage of Mansion Bet bonus codes for example, but where are the other big opportunities in Blockchain that can’t be missed away from the crypto market?

A better customer experience – Typically, offering reward and loyalty points can be a cumbersome task as data is collected centrally and rewards are issued to the customer after processing and oftentimes some administrative tasks too. Given customer experience is becoming a key indicator for success in the online space, any efforts to make this easier and more accessible would certainly be welcomed, particularly where all monitoring metrics are concerned – but moving to blockchain could be the answer. It may allow for rewards and loyalty points to be calculated and issued as soon as they’re earned, rather after processing – this could mean that discounts and promos can be used immediately rather than later. Some have already introduced blockchain for this as start-ups, and certainly may encourage other bigger names to get onboard for providing a better customer experience through loyalty and rewards.

Enhancing security with blockchain – By design, blockchain is inherently a more secure approach for data storage off the bat as it is always encrypted but may offer greater security benefits aside for from just the encrypted data. The information can’t be accidentally mishandled for deletion, and only accessible by those who have authorisation to view it too and could quickly become the future of data storage for those concerned with security. This could be true for any number of different platforms whether it’s storing customer information, patient’s health records which has already become a big use, or even in other spaces such as online communications particularly recently with growing concerns around different apps and how transparent their data sharing may be. This will be a big one moving forward, particularly as concerns with online privacy and online data security continue to be a point of focus for many users. 

These are just a couple of options too, and the list keeps growing as different opportunities with blockchain are explored from ownership, copyright, and identity verification as seen with the NFT market, tracking and traceability of goods and services, or even helping to reduce costs from cumbersome systems. As newer options come online, it will provide yet more proof of concept for expanding spaces and will show where further opportunities in blockchain can be found and implemented into the day to day to provide a much better experience with many growing benefits to boot.

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