Implementing of Blockchain Wallet in Mobile Apps

First of all we should know what is Blockchain Technology? It is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. This technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot be controlled by single entity and has no single point of failure. It has indeed been a good rescuer for the clients, the business partners and the funds as it secures from any kind of loopholes and is also known as the definition of security in the present digital world. With a number of industries and even governments applying the technology to add a whole new level of security and decentralization to their processes, the 

technology has penetrated itself into the world beyond IT and Finance.

Most of us are tempted to associate Blockchain with cryptocurrency, the technology has contributed significantly to industries such as banking, insurance, healthcare, and real estate, to mention just a few. It plays a key role in protective tracking systems.  This is somehow which every corporate would need to do at some point in time. Now whether the technology has the potential to influence the mobile app development space is another question to ponder over. Let us see how app developers can reap the benefits of this futuristic technology in the coming time by implementing it in the apps they create.

Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. Remaining organizations of the corporate worlddoesn’t believe which mean to say that India, Africa, the Eastern Europe and Russia. It’s not about the places where people are really rich. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.

Here are the few major points where Blockchain Wallet inMobile Apps:

DISRUPTING DISPLAY AD NETWORKS WITH AND WITHOUT BLOCKCHAIN

There are two most successful authorized like Google and Facebook which are earlier four billion $ company in a year from the network called Google Display Network. This is where Google works as a middleman among website owners who have traffic to receive and advertisers who want viewers to their website.

WITHOUT BLOCKCHAIN:   The website owners would not require Google as their intermediary if they trust each other in sharing the profits. But they don’t because without Google acting as the reliable middleman, the advertisers can never trust the site owner not to be fraudulent in its tactics and revenue at the expense of the marketer. The Blockchain gives the 100% authority to the user doing their transaction with the help of bitcoin as they are very secured and protected in all the stages like from bottom to top and also one of the trustworthy ways to follow this. They can simply cut out the middleman, saving both parties a lot of money.

WITH BLOCKCHAIN:   Now you can see the massive implications of blockchain on the space of digital marketing. There is probably no bigger threat to Google’s revenue than the blockchain. It represents almost the same kind of threat to big tech giants as bitcoin does to big banks. However, this is good news for website owners, app developers and advertisers who can easily keep the revenue for themselves, not having to pay a third party in the future.

BEATING ONLINE AD FRAUD

Blockchain, a distributed ledger, is not just capable of keeping an unshakeable record of transactions. It is also able to keep a check on people’s digital signature, i.e., who they are. This means that individuals will be able to prove that they are real persons in a way that does not involve giving away personal details that could be subject to data breaches. The blockchain technology has already been developed and is only a matter of time before its use becomes more widespread. Microsoft is already building its blockchain-based digital identification system, and other tech giants are anticipating seeing the potential of adding it to their systems to prevent many types of online fraud. Eventually, this would allow for much better scrutiny of who is clicking on ads and who is viewing them.

CHANGING REVENUE MODELS FOR PUBLISHERS

At present, all online transactions go through a third-party system, such as PayPal or Stripe. It is important for these organizations to cover costs like staff, marketing, and infrastructure. They make a lot of profit through consumer transactions. For almost all of modern purchases, these fees are quite reasonable. For instance, if you buy a watch or fridge online, the fee paid to clear the transaction with a third party will only be a small fraction of the overall cost of the object, so it does not prevent the purchase. With blockchain, you can easily transfer the amount of money, no matter how big or small, free of cost, because there is no third party to pay for staff and marketing. The blockchain system stores all deals, which is distributed across several apps on different user devices – opening up the possibility of micro transactions across various sites.

BLOCKCHAIN BASED APPS

It is reality that P2P payment was the pure intended use of blockchain and bitcoin. It not a matter of any wonder that most of the App developers these days which deploy this technology are part of the same corporate world. Take BitPay, for example, which allows users to pay for a variety of goods and services using bitcoin. From  smart devices, people can generate and start doing the payments in the entire world with the help of Bitcoin and Blockchain very securely and it is the one of the best protected way to do the transactions.

Everyone can purchase and sell a various types of products using bitcoin which, of course, is driven by the blockchain. The reason behind Bockchain is, essentially, an autonomous public ledger, it does not require any form of special hardware to access it. It provides persons to do paymnet for groceries, all kind of goods and services at large corporate retailers using bitcoin as opposed to normal cash. Yet again, we can see how a single app, given access to the blockchain, has forged an entirely new method for commercial engagement in collaboration with well established industry players.

The Blockchain technology is going to serve the appdevelopers as a futuristic tool that is capable of taking their apps to the next level. The Blockchain-based apps can drive innovation for the business processes and at the same time, enhance security, efficiency, and transparency for the customers. However, being a complex technology, it requires skill and expertise to have it integrated into your business apps.

At AIS Mobile Apps, we bring innovation for businesses looking to jump on the Blockchain bandwagon with a futuristic mobile app. Let’s discuss something fruitful on this subject. Would you like to come in contact with our Blockchain app development team? Contact us at ashish@aismobileapps.com and can also reach us at +918527265583 and can also go through the link www.aismobileapps.com.