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Blockchain For Business

Blockchain For Business

Blockchain technology is helping businesses reinvent how transactions are managed. Blockchain can reduce the time and costs of almost any process, enabling near real-time operations. It allows enterprises to more easily transact with each other globally, beyond regional or cross-border boundaries.

Blockchain is evident in emerging FinTech companies and includes applications such as trade finance, intercompany transactions, international payments, clearing and settlements, reconciliation, procure-to-pay, and order-to-cash. Processes beyond finance include supply chain management, asset tracking, warranty service, healthcare, real estate, media, and energy.

Some of the ways blockchain technology is being used in banks and finance companies include:

  • Trust
  • Decentralized Structure
  • Improved Security and Privacy
  • Reduced Costs
  • Speed
  • Visibility and Traceability
  • Immutability
  • Individual Control of Data
  • Tokenization
  • Innovation

Our Approach

Before we recommend any blockchain solutions, we evaluate several fitness factors to determine whether blockchain technology can be a viable solution for your business. Some essential fitness factors we consider include the complexity of the business purpose, the number of participants in the ecosystem, recordkeeping, regulatory compliance, and the need for real-time transfer of assets or payments. After gathering the relevant information and defining the use case, we create a minimum viable product (MVP) and a minimum viable ecosystem (MVE) suited for your company.

Why GBA?

If you think blockchain technology won’t impact your business, think again. From accounting to business processes, the growing consensus among top industry executives is that blockchain is likely to influence every significant area of work. Change is already occurring.

We can help your company from being left behind. Our team and strategic partnerships are constantly exploring how business blockchains can be used to improve finance functions.

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