One of the many attractive features of distributed ledger technology is that it need not rely on trust between parties or on a “neutral” third party to keep everyone honest. This nifty feature enables the development of “smart contracts,” and blockchain development companies such as ours are doing some interesting work in this area.
Unlike a cryptocurrency transaction, in which only data is recorded in the blockchain, a smart contract stores executable code that implements the terms of an agreement between parties. Application development companies specializing in blockchain development services are ramping up development of smart contract apps and other blockchain solutions for banks, insurance companies, retailers, and other enterprises.
Other examples of blockchain app development include apps for supply chain tracking, professional and occupational licensing, and educational credentials. Because the distributed nature of the database makes transactions immutable, it becomes harder for vendors, customers, and partners to perpetrate any kind of fraud or misrepresentation.
By partnering with our blockchain development company, you know that you’re getting the most experienced of Canadian blockchain companies, with decentralized applications deployed in a variety of industries.
Contact us to learn more.