Blockchain technology has already stepped into various industries such as healthcare, education, legal, real estate, etc, and now the technology has impacted the mobile app industry as well. As per IDC, companies have spent nearly 6.6 billion dollars on blockchain solutions this year, and that number will continue to grow from 2021 to 2024.
Although it is well understood that the technology has advanced considerably and made it easier to function, many concerns need to be uncovered and addressed. To address these issues, many businesses are turning to blockchain solutions to improve the usability and efficiency of mobile app development.
Let’s take a look at how it has helped the mobile app industry and why developers are adopting it.
Why mobile app developers use blockchain
Developers are increasingly using blockchain technology in mobile apps because it not only simplifies digital transactions but also allows for P2P transactions. It is a secure environment for all mobile app transactions.
Blockchain solutions are making the manual task easier with automated processes and reshaping the traditional business models. The future of blockchain technology is strong which will stay even after the end of the crypto revolution.
Mobile app developers are recognizing the necessity for transitional work and its future developments, and are attempting to cope with and master new technology in order to grow their businesses. They believe that the technology with its secure transactions and backups will stay in the league for many years to come.
Benefits of using blockchain in your next mobile application
- The technology is built in such a way that it cannot fall as it is made up of blocks that store data in various locations. It has the most reliable technology solution for application development.
- The technology is user-friendly and cost-efficient.
- In today’s mobile apps every transaction involves money, which requires security to keep both the company and the customer safe. Hence, blockchain technology is offering security with data encryption and interlocked blocks.
- It eliminates fraud transactions as it offers users to keep track of the number of transactions they have made. It is one of the most transparent forms of technology.
- It helps new businesses to gain the trust of their customers.
- Using blockchain in the mobile application can be easier as the services can be improved with every update in the application.
- It makes the transactions faster and easier.
How Blockchain is revolutionizing the mobile application economy
Now let’s look at how it’s transforming the mobile application industry.
Blockchain Solutions For In-App Purchases
Most of the applications lack in-app transactions that make the process lengthy and risky. Hence, blockchain is now using a decentralized model which allows people to add coins in the app and use it for transactions. It eliminates the process of adding card details. The in-app coin system also allows the user to gain rewards in every payment they make. Hence it is reliable and beneficial.
Makes App Approval Transparent
There are two bodies where application ranking is approved for sale, one being the Google Play Store and another Apple Store. As these bodies determine the application process, they do not make it accessible for developers. Blockchain solutions allow developers to approve their apps in a transparent manner by using a transparent system.
Improving Advertising Models
The advertising model is reshaped as blockchain technology removes the middlemen process where everyone gets shares for sale. The blockchain solution now introduces a cost-per-attention strategy. This strategy allows the users to gain rewards in the app coin based on their use and fully eliminates the middlemen.
Blockchain Will Be Accessible In A Remote Area
Many people in rural areas have access to the Internet and smartphones, but many lack credit cards or bank accounts. People can add credit points to the app’s wallet using blockchain methods. This enables people in rural locations to take part in digital transactions.
Performance And Efficiency
The solution improves the app’s performance by removing the need for third-party permission. The entire procedure becomes simpler and faster with peer-to-peer transactions. It substitutes the existing procedures, which are time-consuming and risky, with the possibility of fraud.
Blockchain-based applications ensure high-level security and performance. Be it any industry the technology has proved to stay in the long run. It represents the simple way of app development.
Now, software developers are embracing new technologies such as blockchain in order to improve their operations and deliver better customer service to their target audience. If you want to start a business with blockchain, Jellyfish Technologies offers a variety of blockchain services, including
- Private Blockchain Development
- Etherium Application Development
- Multichain Development
- Smart Contract Development
- Hyperledger Development
- Blockchain POC Development