Decentralized technology is coming to the forefront amid growing demand for better security and high efficiency across businesses. Regardless of industries, companies are re-auditing their existing business model to integrate blockchain implementations. Canada is among the most active countries regarding blockchain adoption, and it has opened numerous opportunities.
According to a survey conducted by Deloitte, around 51% of the Canadian companies are planning to introduce decentralized services. Understanding this technology's future potential and efficiency, the Canadian government is also working closely to streamline the implementations.
With the ever-growing surge in user privacy and overall business data-sensitivity, blockchain fits best to establish a secure & transparent system. Due to favorable government regulations, low energy cost, and high internet speeds, blockchain is on the verge in Canada.
The trend of smart contract integration is here to stay in Canada as it brings numerous advantages to businesses with less human intervention. Be it retail, B2B, enterprise, government, or telecom, decentralization is the next paradigm shift.
Enterprise Ethereum Alliance (EEA) promotes businesses to adopt these distributed ledger technologies and make the business operations more prosper. With continuous work being done on decentralized technologies in Canada, this is the right time for Canadian firms to integrate them and thrive online.
Blockchain is vast and one solution fits all work methodology doesn't work due to variation in business complexities. We at SevenBits bring in innovative blockchain development services to make your business future-focused and more customer-centric. Our dedicated blockchain CoE ensures high RoI for your business with a scalable architecture. We can help companies in their transformation regardless of their expertise vertical.
Smart Contract Integration
One of the fundamental necessities of a smart contract is to register all terms and conditions in explicit detail. This is a necessity because a single mistake could lead to massive transaction failures. As a result, smart contracts avoid the pitfalls of manual for fillings and management.
As the terms and conditions mentioned on smart contracts are completely evident and available to all associated parties, there is no chance for disputes. Along with this, smart contract integration also leads to clear communication among business chains and customers. With high efficiency, they help companies to reduce the cost of manual resources and third-party validation services.
SevenBits helps you automate your company's manual information exchange tasks and offers you better control over complex and multifaceted processes. As more companies and customers are also shifting towards smart contracts, it's the best time for Canadian companies to upgrade their operations. Be it corporate companies or insurance firms, smart contracts help in streamlining the manual efforts.
Crypto Wallet Services
As we move towards rapid digital transformation, the financial systems and customers are taking a colossal upthrust. Cryptocurrencies are getting mainstream and attracting more people to your business; you need to provide them with all trending payment options.
Having your exclusive crypto wallet establishes transparency among customers and partners and makes the transactions less hassle to handle. With a constant push of the Canadian government over these technologies' adaptation, this practice will go more mainstream.
Our crypto-wallet development team brings in bespoke development services as per your business demands and future goals. From analyzing your existing systems to integrating crypto wallets and ensuring its integrity, we have got you covered. With a vast stack of more than eight public and private blockchain technologies like Bitcoin, EOS, Ethereum, we ensure robust implementation.
Blockchain For Supply Chain Enterprises
The supply chain industry is overgrowing with time rapidly, and the operations are getting complicated and resource-dependent. To cut costs significantly and bring more efficiency, blockchain is the only technology that can streamline processes. It can help to optimize every touchpoint, whether it's of B2B backend or customer forefront.
We can help companies function better and operate with higher efficiency, from SDK & API integrations to crypto payment enablement and accurate real-time tracking. Our team helps supply chain businesses reduce their transaction costs by introducing a peer-to-peer network among the partner chain.
Another significant advantage of this decentralized technology is improved future scalability with mitigated risk. As this tech eliminates third-party dependencies, scaling the business in the future is efficient and more profitable. By checking real-time inventories to automate invoicing systems, blockchain can help you establish more sophisticated and transparent methods.
As digital transformation is growing at speed across the globe, blockchain technology is the future of industries. In countries like Canada, where the government is keenly involved in finding more business opportunities, this distributed ledger tech is here to stay.
SevenBits is a modern blockchain development company, and we are focused on helping you thrive online. Want to know more about blockchain development services? Get in touch with us at [email protected], and our team will be happier to walk you through the growth opportunities.