Proof of concept is a realization of a specific method or idea to prove its feasibility or a display in principle to verify that some concept or theory has practical potential using Blockchain Technology.
There are many CXO and founders who know the benefits of Blockchain Technology but don’t really know where to start from and how to execute them on their idea, project or business. They probably don’t have much budget and time for long experimentation that doesn’t show the desired result.
We provide our services by checking the feasibility of specific ideas or processes involved in the project or development. After POC Development, you will get a clear idea of what you are doing before you even get started. Instead, you’ll only work on your possible Blockchain solution option and see whether it’s capable of being a reality or not.
The sole motive behind using Proof Of Concept is whether the concept or theory of project or development has practical potential or not.
The centralized nature of the Finance & Insurance Industry comes with many setbacks. In a traditional banking system, all the payment processes and data registered in the ledger are managed by the bank in a centralized system. Blockchain technology can address the issue by providing transparency and decentralization.
Blockchain technology will have a huge impact on Medical and Healthcare Industry. Take the amount of paperwork that pile up after a few checkups. Instead of having multiple papers, everyone will be able to access their papers and not have to worry about losing it or wearing it out.
Unreliability of information and difficulty in tracing and tracking the products are just some of the few challenges faced in supply chain management. Blockchain technology promises to address these issues by allowing users to track and trace their products right from the source to the end customer.
Detecting fraud, managing all the documents in a secure environment is tough. So, if you introduce a blockchain framework that can solve all these issues would be a huge factor. However, the competition in this marketplace is a bit high; still, with proper blockchain proof of concept, it should be a great opportunity.
Blockchain Technology can be used to tackle identity theft and fraudulent activity on credit reports. For Example, Users can select the information that they wish to share, submitting and verifying their personal details which are then locked and encrypted.
The blockchain system is more than capable of handling payments, and many of it also offer micropayments. Furthermore, it takes a really small amount of time to send money compared to the traditional banking system. The traditional payment system is due for upgradation and with your unique blockchain proof of concept solution you can easily change the marketplace.