SMEs AND THE USE OF THE BLOCKCHAIN

The term SME refers to medium and small companies. Companies are considered SMEs when their payroll is between 1 and 250 employees, visit website to to know how Bitcoin works. 

Over the days, micro-enterprises have come together, which are also integrated when talking about SMEs or a particular reference such as mipymes. SMEs are for-profit organizations, and their transactions are smaller than industries. 

The form of management, management development, and business administrative direction is imminent keys when implementing a new technology tool. 

In small and medium-sized companies, new and better technologies, such as blockchain, is the opportunity to increase productivity, reduce costs, systematize operations, manage businesses, and much more. 

Regardless of all those benefits, digital change experiences a host of downsides to implementation in the business-industrial sector. 

Digital renewal is a continuous process of adaptation. The fundamental objective is based on new technologies continually providing value to the customer, the employee, and the company. 

Next, we will study some blockchain tools to publicize the technologies used in the digital transformation of business; not being essential to have very advanced technical prior knowledge. 

The blockchain is in its infancy for companies and industries in general 

Currently, we are only at the beginning of implementing this technology; it is believed that the current market is 2.6 billion dollars in the different BLOCKCHAIN implementation verticals. 

They are deducing that 37.5 billion will be our goal in the potential market by 2030. It is a fact that several experts and analysts suppose that the blockchain could be as successful as the internet was when it was launched. 

Developers living at Harvard Business School, KatimLakhani and Marco Lansiti, compare the possibilities of the blockchain with the evolution of the TCP/IP internet protocol. 

It was initially created as a means of communication by sending emails to allow easy and comfortable communication between two or more people anywhere in the world. 

In its beginnings, the main objective of the blockchain was to authorize the secure and decentralized transaction of BITCOIN and the TCP/IP protocol. However, technology has the knowledge and the ability to do much more than what was proposed in its initial goal. 

Scope of the blockchain in business 

By using the blockchain in companies, we can have access to products or services, which in their normal condition were not very accessible or unfeasible for a large number of companies due to their high price. 

These blockchain technologies cause an improvement of the value proposition of organizations in several ways, one of the most prominent being optimization of transactions and products. 

The data structure of the blockchain is implemented in recognition of clients with more accuracy and stores all the information regarding them in a secure way. 

This technology offers different benefits and opportunities for SMEs since they can reduce the size of information and costs per transaction, collaborate with commercial backgrounds, and help improve business and provide access to financing. 

If anything is recognized, SMEs do not have the capital to invest in many cases for technological innovation and thus ensure that digital resources allow immersion in the cryptographic world. 

Meanwhile, in recent years, the offer by companies that provide business tools based on blockchain technology has grown; in this way, it is guaranteed that companies are not forced to make significant investments of cash and time for development and implementation. 

The appearance of the blockchain as a service or tool at the service of SMEs allows any company to be instructed in the use and application of technology without the implementation of a significant investment. 

Conclusion 

Technologies are tools that provide significant benefits in different areas of society, mainly in the economy and finance. 

The blockchain is the new tool implemented in companies based on the blockchain. That provides significant advantages and benefits such as security, decentralization, development, and financial growth. 

They allow the management of a large amount of information regarding the processes and transactions within the company in a streamlined and very efficient way, where smart contracts come to life, commonly used for the programming of functions related to activities and services in the future, everything will depend on technology because it has proven to make life easier and more systematic. 

  

 

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