Unless you are living under a rock, mobile application developers are aware of blockchain technology. This technology is very popular due to its close association to Bitcoin and other cryptocurrencies. That doesn’t mean that you cannot use this fabulous technology to enhance your business.
Your implementation of blockchain in your applications will however depend on the kind of use case you are going for. If you are building an app for internal purposes blockchain will be useful in certain useful use cases.
However if you building apps for the marketplace blockchain will be a very useful technology, use of which will instantly improve your standing among your peers.
Let’s dive in and find out how and why blockchain will be useful in mobile application development.
Current state of Blockchain and Business
Blockchain is still a nascent technology when it comes to the enterprise. It is early days for blockchain from an enterprise perspective. According to Gartner only a small percentage of companies, particularly outside the financial services sector, are actively experimenting with the technology.
While the percentage of enterprises experimenting with blockchain may be low, still a lot R&D money is being pumped in the technology. More than 300 companies are invested in blockchain technology. Almost 140 of them have developed proof of concepts while at least 15 are waiting for patent approval.
Still more and more use cases are being discovered for blockchain, which most likely will be converted into real applications. However blockchain is not just for the desktop, mobile app developers should also actively exploit this technology.
Blockchain Mobile Apps + Enterprise
Enterprises wondering whether they should use blockchain technology, should first analyze their organisation and create use cases where blockchain can solve problems.
Distributed Ledgers + Mobile Access
Before injecting blockchain tech in your business you should ask yourself: Do I have processes which require collaboration between business partners? Do those processes are hindered by central ledgers?
If the answer to any of the above questions is yes, then blockchain powered mobile apps will allow your collaborators to submit data in a way that is accessible and verifiable to everyone anytime, anywhere. Supply Chain Management apps can be created ins such a way that they give the most real-time information to your users.
One really good use case for blockchain is when your employees are accessing a database via some authorization system. Shifting to a blockchain application can really drive down costs, improve productivity and enhance efficiency.
Smart Contracts + Enterprise
Smart contracts in simpler words are a series of verified handshakes which allow a user to take autonomous decisions based on the conditions applied. This can be useful in enterprise as it can reduce labor costs. Having said that we would not recommend investing in smart contracts. The technology is very new and complex in nature. At Aspioneer we consider Smart Contracts to be a high-risk technology.
Blockchain Mobile Apps + Third party developers
You are in for a treat. As you have read above the use of blockchain has exploded. Demand for blockchain engineers is skyrocketing. If you have the relevant skills you should expect very high demand in the future.
As demand for blockchain based applications rises, a third party vendor should see considerable gain in their bottom line.
Blockchain Mobile Apps + Innovator
Now let’s get to the real dough. Are you an innovator? Living on the cutting edge? Do you dream of creating the next Facebook or Twitter using blockchain. Well you are swimming in right waters. There is no shortage of industries you can go into. Imagine blockchain powered git, blockchain powered backup services, blockchain powered password managers… The possibilities here a endless.
Blockchain + Developing markets
Blockchain based applications designed around cryptocurrency or remittance solutions can help people reduce costs by getting rid of the middlemen who get additional commissions. Imagine a APEC worker sending money back home using a blockchain based solution. Verifying abilities of blockchain will allow secure trustworthy transfers.
Blockchain Mobile Apps + For Today and Beyond
Use of blockchain and mobile application can lead to new kind business processes which not only secure but also highly efficient. An intelligent mix which might lead to truly distributed world economy.
Mobile App Developers, Skill up!
It is highly apparent that blockchain and smart contracts will be one of the most prominent technologies which will underpin the next generation of mobile applications. Make no mistake, mobile apps will where the most action will be, the market is deep and people are receptive to solutions which make their lives easy and comfortable.
Let’s get cracking!