resources - blog post

Can Small Businesses Benefit From Blockchain?

Table of Contents

All over business news these days are headlines about the blockchain and cryptocurrency. The attention to the subject prompts a persistent question: can small businesses benefit from the blockchain?

The answer is yes. And, according to an article from the U.S. Chamber of Commerce, 2021 has become the year when “every business, no matter what size, needs to start paying attention” to the blockchain.

Accepting Payments

Archival Purposes

Smart Contracts

One of the core features of the blockchain is the concept of smart contracts, in which terms and conditions are embedded in computer code. In a simple implementation, that could mean payment would be transmitted at the time when goods are delivered. It could also be used in more complicated scenarios. For instance, if an event was cancelled, ticket holders could be issued a refund automatically.

Advocates for the blockchain typically extol the idea of smart contracts, claiming that having contract terms embedded in code can make businesses run smoother. Yet skeptics rightly point out that, as with any computer code, bugs can occur. And poorly coded smart contracts could cause major problems. Github, a site used by programmers, features a section on the best practices for smart contracts.

Raising Funds

Interested in our services? Contact us now!

More from our blog

Related Blog Posts

Social Media as Lead Generation | GlobalEdgeMarkets

Social Media as Lead Generation

In a highly competitive market with lots of diversity, generating leads can be difficult. The market is noisy, crowded, and cutt-throat. Many marketers these days turn to social media as a means of lead generation, and you may ask, like many have, if social media is a viable platform to

Read More »
Your Ultimate Guide to Staying Resilient in 2022 | GlobalEdgeMarkets

Your Ultimate Guide to Staying Resilient in 2022

Business resilience is defined as an organization’s ability to act quickly and efficiently to adapt to potentially hindering disruptions while maintaining business operations, assets, employee security, and overall brand equity. Over the last two years, the biggest hindrance to almost every industry was, quite obviously, the Covid-19 pandemic. Anything from

Read More »