With all of the hype around blockchain technology, the kind that underpins Bitcoin, it is easy to believe that it needs to be integrated into everything from real estate contracts to healthcare. And it will probably be an important technology.
However, that does not mean it is the right option for every industry and type of business. This article title from CoinDesk (a publication about blockchain) says it all: Don’t Use a Blockchain Unless You Really Need One. Blockchains are incredibly inefficient when comparing computing power and time, compared to more traditional ways of conducting transactions. So, you need to make sure it’s worth paying the cost.
That is why the Bytes, Inc. team is exploring the technology in greater depth and partnering with a local company that does blockchain analysis and assessment. While a lot of development shops are happy to jump on the bandwagon, we want to ensure that including blockchain in a solution actually makes it more effective.
So if you are considering developing an application that uses blockchain, or any kind of custom application, let’s talk. You can contact us via the Contact Us page or give me a call at (619) 933-3366. We would be happy to help you figure out how to make your application efficient and effective for your needs.