How to know weather Blockchain Technology Right for You?

Since its inception, this technology has come a long way and emerged as one of the most influential techniques in the world.

The Blockchain is a specialized kind of database used for the storage of essential data and information. Since it is a database, one can store information involving different types of digital data.

Since its initiation, this innovation has made some amazing progress and developed as a standout amongst the most persuasive advances on the planet. The Blockchain has set up itself as one of the incontestable technologies in the field of business exchanges. In any case, it has its own arrangement of constraints which may make its framework less ideal for a few traders.

One of the most unique aspects of blockchain is its high number of evangelists – people who believe blockchain can solve everything from global financial inequality, to the provision of ID for refugees, to enabling people to sell their houses without an estate agent. The enthusiasm to (over) promote the technology is also damaging its long-term prospects.

Based on our analysis of how blockchain is used in a variety of projects around the world and following interviews with selected chief executive officers, we found there are 11 questions, at most, that businesses need to answer to see if blockchain is a solution to some of their problems.

The below flowchart has 11 questions that can help decide whether or not this special effects company needs to use blockchain:

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