What was once created just for Bitcoin is now fueling spending in the technology space, including local products like IT services in Brookhaven. Blockchain technology was formed in 2008 to power Bitcoin but now it’s being used for a myriad of things from copyright protection to any variety of internet transactions. These new-found uses of blockchain are fueling spending by companies interested in how the technology can make things more secure.
How does blockchain work?
The simplest way to explain how blockchain works is through the use for which it was created – cryptocurrency transactions. Simply put a block is a record of new transactions. These transactions could mean the location of the currency, or any other variety of information that comprises the block. When the block is completed, it’s added to a chain which creates a blockchain. When this new block is added to the blockchain, it becomes uneditable and unalterable. It’s permanent.
Why are companies leaning toward it?
Everyone wants their IT services in Brookhaven to be secure and efficient. So, why is blockchain something that companies are looking into? Blockchain is technically a “public ledger” of transactions. Once a transaction is part of a blockchain, it is permanent and can be referenced if needed. The ledger essentially stores the information or data that’s added to it across innumerable participants and networks. There’s no single hub that stores this data making it easier for several departments or operations of one company throughout the world to access it securely.
How is blockchain driving spending?
As companies start adopting blockchain, there will be an increase in the need for specialized technology services, including IT services in Brookhaven, as well as a range of other business services. Companies need to figure out how to best integrate the technology into their current operations. This can be broken down into three categories:
Project services. These would be things that define the strategy of the business and how it can best incorporate blockchain technology to increase profit, whether that’s from a production standpoint, a systems standpoint, or an IT standpoint.
Outsourcing. This would involve bringing on outside services that can inform business on how to use and operate blockchain technology. As an example, CMIT Solutions’ IT services in Brookhaven could be used as a consultant in adapting to blockchain.
Support. Once blockchain is integrated, businesses must seek ongoing support to stay ahead of changes in the technology. In addition, many businesses will need training support for end-user adoption of the technology.
If you’re looking to get into blockchain technology, or just need IT services in Brookhaven, give us a call. We’ll talk you through it and let you know if your business can truly benefit from blockchain.