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Hi!

Today, we’re taking a look at blockchain technology.

It’s currently used mostly for cryptocurrency, but there are many other applications that would be useful to a small or medium business owner.

We’ll discuss some of these applications over the coming days, and see how they might be useful to you.

Since a blockchain is made up of many blocks of information that cannot be tampered with, it’s excellent for proving vital information.

Identity theft is a very real threat in the digital world, and using blockchain to prove your identity is the best way to protect your assets and security.

In addition, many people worldwide have little or no access to government-issued identification cards.

Blockchain proof of identity would be invaluable to these folks.

In a similar fashion, blockchain can be used to verify new business partners—especially international suppliers you’re not likely to be able to meet in person—or to check a prospective employee’s credentials and work history.

Imagine a tamper-proof record of such information at your fingertips.

You could ditch the paper resumes and physical handshakes and rely on hard data to make your business decisions.

Besides people, blockchain can also verify products.

Would you like to be able to prove beyond the shadow of a doubt that you’re selling tamper-proof medication, certified organic products, sustainably-farmed foods, or authentic designer clothing (or anything else that might be counterfeited)?

Building trust has become difficult in today’s digital world, where you may not even know who most of your customers are.

Blockchain is vitally important in the fight against counterfeit products, and it can also help you build trust with your clients.

Blockchain opens the door to a much-needed digital security for today’s global business marketplace.

In our next lesson, we’ll look at your supply chain and shipping process.