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Is merging Blockchain and Mobile App Development a good decision for businesses?

Recent studies suggest that financial organizations can save over $8 billion on the transactions each year simply by using blockchain. However, the bigger question is, does it hold the same benefits for all businesses who might be considering its implementation for mobile app development?

To start off, the answer to that question is a big yes! The benefits held by Blockchain for mobile app development are multiple, if it is done the right way. So, let’s delve deeper into it.

The benefits of merging blockchain and mobile app development

The merging of blockchain and mobile app development comes with several benefits, and eight of those have been discussed below.

  1. The security aspect of it

The security features are the most crucial thing that the app developers have to make sure in creating and delivering their products.

One of the many features that Blockchain technology is that it is able to secure the apps with the highest level of encryption, which protects the app from malicious attackers. The technology ensures that the most secured software applications are used in the product.

  1. The transparency that comes with security

A secured mobile app is also a transparent mobile app, and the use of Blockchain can be instrumental in ensuring that transparency.

Blockchain allows easy tracking of every transaction that the user makes. Thus, it ensures that no fabricated information or malicious user can interfere with the transaction. With the right application of the Blockchain technology, multiple users are able to use this app. This is something important for the entrepreneurs because they get gain greater trust of the users by offering them the assurance of safe transactions in the app.

Blockchain security is helpful in every sector. The chief features of it are securing and sharing the data, and it is something that benefits any business sector. So, it is no surprise that, Blockchain gets used everywhere, from the medical sector to the industrial sector.

Read Also –  How is BlockChain Useful for the Mobile App Developers?

  1. The uniformity in the function of the apps

 

The mobile app development companies can use the Blockchain technology for making it easy and simple for the apps to function.

The developers get to maintain a parity in the qualities and features that they offer in their high-end applications. It benefits the users because they do not have to shell out hefty amounts for the apps.

Blockchain mobile app development is helpful because the similar functionalities can be created in a highly compelling way. The task of modification, updating, and most importantly, development becomes easier.

  1. It also helps in updating the apps easily

Updating the apps will seem faster and convenient as there is an increase in blockchain app development in the present market.

This will turn out to be immensely beneficial for customer services, as well as meeting the demands and needs of the businesses. Blockchain mobile app development is helpful for the app developers in fulfilling the future needs of the application.

  1. The threat of password leakage is gone

Even after putting up passwords, the users are in a continuous worry that this password might just leak out, or some hackers might just get to know it. However, with Blockchain security, the users do not need any type of password.

The mobile transaction are clearly visible. The parties involved in the transaction have the SSL certification for carrying out the transaction. The things are transparent to everyone and there is greater accessibility for the users.

Read Also –  How Blockchain Technology Will Revolutionize Mobile App Economy?

  1. Transactions are made possible with multiple users

The major business organizations need multiple signatures on one document. The Blockchain technology helps the businesses in easing out this process.

It is not like the description keys can be used and one can simply get away with it. Verifying the information is something that all parties want and it can get easily adjusted. As the verification of information and authentication becomes easier, any readjustments in the system is simple to take care of by the business.

  1. Handling complicated digital ledger systems is easier

The businesses have quite the task at hand when it comes to the proper maintenance of a ledger. A digital ledger can be created using Blockchain technology, powered by extensive use of high-end computer networks.

The main purpose of it is to analyze and send out the data collectively. Every time the company implements some change, the same change gets forwarded to all the machines in the company’s systems. The use of Blockchain technology in all the apps helps the businesses have the same ledger at any given point in time.

  1. The future is here with mobile app and blockchain merging

Blockchain technology is being used even now in the update and development of apps. The multiple benefits delivered with the merging of Blockchain and mobile app development, ensures that there is a better future for the developers and the users.

The future is not too far away when we get to see more and more technological changes and software updates brought forth by Blockchain technology, and the applications brought forth from it.

Read Also –  What Mobile App Developers Need to Know About Blockchain?

The way of implementing Blockchain in mobile apps

As established already, the implementation of Blockchain in the development of mobile apps is beneficial for all parties involved. And, now that the benefits have been underlined, let’s move on to how you can practically implement the steps of mobile app development based on Blockchain tech.

  • Selecting the right consensus-based process

You might already know that there is a consensus mechanism that makes sure of the security and accessibility aspects of Blockchain. It is important to select the right consensus method according to what is suitable to the character of your app.

Round Robin, Proof of Stake, Proof of Elapsed Time, and Proof of Work need to be taken into account when searching for a couple of common alternatives. So, the method that you choose depends on the requirements of the app.

  • The design architecture for the app in question

It is important to select the right configuration for the design architecture. So, now it is time for hosting Blockchain using the hybrid, in-house, or cloud-based model. The good thing for you is that, in this case, you have a whole range of options in terms of configurations related to the memory, disk size, operating system, and processors.

The one thing that you will have to ensure is that the chosen design architecture is selected depending on the operating system of the platform for which you are creating the mobile app.

  • Admin panel and UI design

The final step involves developing the admin panel and the user interface of the app. A front-end programming language has to be used, along with an exterior database and particular app servers, to make sure that the task is effectively accomplished.

The soft launching of the mobile app is made possible with the use of the console, but you should remember to establish a connection with analytics.

Wrapping up

Mobile app developing companies are increasingly turning to Blockchain technology to get the best possible results. It makes the apps much more accessible, credible, and reliable, which benefits the companies as much as the users. So, the answer to the question is pretty clear: Blockchain and mobile app development are the perfect matches for your business.

How is BlockChain Useful for the Mobile App Developers?

Mobile app development has been evolving in a regular manner. Several unprecedented advances have been made in mobility solutions, thanks to the progressive and innovative technologies that keep’s coming up. With the advent of blockchain technology—the latest trend in the technological world—especially business transactions via mobile apps have reached unforeseen levels.

With several varied industries attempting to harness the power of blockchain technology for enhancing their processes, mobile application developers are certainly not left behind. Blockchain development is seen to be the next big leap in tech-driven mobility solutions.

This distributed technology has touched the various modern industries ranging from healthcare to banking to mobile app developments, and many others. Offering complete transparency to all processes, this technology, as it does with several other industries and their stakeholders, is about to impact mobile application developers in a big way.

What are the Key Benefits that Make Blockchain Technology so Special for the Mobile App Development Industry?

  1. Blockchain Enables Digital Wallets

Digital wallet applications have gained enormous popularity with the advancement of cryptocurrency. Demand for digital wallet has been found to increase regularly. Not just the tremendous rise in cryptocurrency-based digital wallets, the need for a safer and reliable technology to ensure wallet security also makes blockchain to play a vital role.

2. Digital Identity Applications Will Reach Several Industries

All participants of blockchain have specific identities. This can be achieved by getting the personal information registered on private blockchain, or public network. Blockchain-based identity is strong and reliable. It can be used for personal identification in several organizations such as banks, hospitals, government offices, and others.

Building digital identification management apps has become always possible for industries such as education, insurance, banks, and several others.

  1. Blockchain Helps in Improving the Advertisement Model

Another area that is about to be revamped completely under the blockchain regime is advertising model by developers. Contemporary advertising campaigns involve cost-per-installment model that all developers are obliged to invest in. This is required for reaching the broadest audience possible. Being strewn with factors such as middlemen and policies, the amount realized by developers is comparatively very low.

In future, thanks to blockchain technology, this approach will be replaced by the strategy of cost-per-attention. In this model, users are rewarded by app coins for the specific time that they spend on using the app. This helps eliminate middlemen and thus rewarding users with coins that proves useful for making in-app purchases smoothly and efficiently.

  1. In-app Purchase issues can be Resolved Using Blockchain

Despite the fact that most of the world’s population today owns smartphones, a major portion of them are unable to make in-app purchases due to the lack of necessary payment methods such as credit cards. There is the potential threat of fraud even if users do have credit cards. Moreover, there are deterring factors such as app store fee, bank transfer fee, card processing fee, and gateway fee. These factors continue to eat up a portion of the proceedings involved with the purchases.

The decentralized model of blockchain, when used in purchase transactions, facilitates using app coins for paying the app store. This way, developers stand to get a bigger share. Users will also find making in-app purchases pretty much easier, as they can use app coins as a payment method. This also eliminates the need for including all processes related to credit card payment.

  1. App Approval Will be Streamlined and Made Transparent by Blockchain

Currently, it is the app stores—mainly the two players, namely, Google’s Play Store and Apple’s App Store—that make their own decision about approving apps for sale in their respective stores, or otherwise. Presently, this app approval process is not found to be fair; it proves to be cumbersome and frequently arbitrary.

By using the blockchain model, the app approval process would become better, as it would be performed through a transparent developer reputation system. A separate user ranking method and decentralized public ledger will be used for specific developers individually. This makes the process all the more transparent and fair.

  1. The Environment Gets More Secure

A great magnitude of transparency is achieved while using blockchain technology in mobile app development. With everything recorded, it becomes possible to easily track information for every users. They may view all factors related to the process. Mobile app developers will be better positioned for resolving unique challenges associated with data security and privacy such as HIPAA.

  1. Blockchain Enables Smart Contract System

Blocks in the blockchain have the capability of recording ownership, values, and timestamp. It is also possible to use these blocks on the basis of smart contract systems. The peer-to-peer architecture in the blockchain network ensures that there’s eventually no possibility of data manipulation.

By way of implementing smart contracts in all business deals, customers and businesses will tend to develop better trust and understanding. Smart contracts will be playing a key role in mobile app development related to facilitating transaction authentication among parties. The twin advantages of providing secure and cost-effective way in app development may be achieved by using this system.

  1. Remote Area Penetration Will be High With Blockchain

People living in certain under-developed regions of the world, may be having digital devices such as smartphones, but may be unable to access financial systems such as bank accounts, or other personal credit system. Blockchain will ensure that users having Internet access would be able to establish online mobile wallet in which tokens or coins may be stored and used.

This will enable people living in even remote locations to actively participate in online transactions such as E-Commerce activities, money transfer, and securing loans, without having to bear hefty charges toward services by banks or financial institutions.

What Will be the Positive Impacts of Blockchain on Mobile App Development?

Integration of blockchain into mobility solutions will be the driving factor for boosting productivity and improving efficiency, in several sectors in future. Establishing and authenticating interactions on a peer-to-peer level by app developers using blockchain will become common.

Creation of high-performing, efficient M-Commerce applications that enable smooth online trading between buyers and sellers, across the globe will be achieved. This will eliminate the need for individuals and institutions posing as middlemen, thus savings hefty charges and fees.

The transparency of data and openness of transactions made possible in the mobile applications of the future will help greatly to improve the processes of purchases and sales.

There are 11 million bitcoin wallets set up – BitInfoCharts, 2018

Related Articles:

How Blockchain Technology Will Revolutionize Mobile App Economy?

What Mobile App Developers Need to Know About Blockchain?

What Mobile App Developers Need to Know About Blockchain?

Having been promoted for secure transactions, Blockchain is among the hot topics of the contemporary world. Used by the Bitcoin cryptocurrency for its public ledger where transactions get recorded, the blockchain is a datastructure. With Bitcoin being viewed as the biggest ever speculative bubble that has created millionaires, there’s little wonder in the use of Blockchain increasing in an exponential manner. Numerous organizations from financial, health, and real estate sectors are seen to back the underlying encryption technology, Blockchain.

Blockchain proves to be a great asset for iOS Development Companies

Role Played by Blockchain in Mobile App Development

A distributed digital ledger that records transactions in any decentralized database that is located conveniently in multiple places, Blockchain assures security. The technology ensures that blocks of records, transactions, or programs are rock-solid secure.

Blockchain can be built into a large number of mobile apps pertaining to several industries such as retail and finance. Blockchain can be put to use for verifying identities of people with regard to using services such as getting drivers’ licenses or opening bank accounts. It could be used for other functions such as developing mobile app for documenting land titles, thus cutting down the costs for titles dramatically.

Blockchain technology fuels mobile app development industry as it does various others

Why is Blockchain Considered the Future-Looking Technology?

Blockchain is in the growing stage; it is yet to be accepted fully by mainstream financial institutions and mainstream consumers. But digital pioneers and innovators are attracted by this novel and emerging concept.

In the mobile app development parlance, blockchain finds to be of immense use in the service of mobile payment function. In the modern world with nearly 5 billion mobile subscribers, only over 1 billion people have the necessary access to bank accounts having payment capabilities. If blockchain mobile payment companies partner with telecom companies, people who have no bank accounts but own mobile phones will be enabled to make secure mobile payments by using mobile apps. Such mobile apps will benefit billions of people across the world by providing unprecedented financial services. This is just one sample of how iOS mobile app developers can make use of the blockchain technology.

Blockchain-based app store could be the future?

How Blockchain Outshines Traditional Services

While traditional services such as renting flats or bank transfers need middlemen for their operation, blockchain operates directly. Here, transactions are being recorded in encrypted form in the network of other users’ digital devices.  They are guarded using sophisticated mathematical formula and records are rendered not changeable, added, or deleted by anybody. This way, it warrants its members’ fairness.

Blockchain technology comes very handy for iOS development companies and mobile app developers. It enables making your application more secure from the customers’ perspective. The distributed nature makes it useful in several ways.  Distributed databases have higher level of availability; distributed apps can run on networked systems while coordinating their actions efficiently through shared memory or by passing messages between the app’s instances.

Helping developing new business process and adding the much needed element of confidentiality into mobile apps, the blockchain technology helps develop not only advanced peer-to-peer payment platforms but also several other fintech apps in various other industries.