How Blockchain Technology Can Help Build Company Credibility

blockchain technology

Whether you offer a unique product or reliable service, being a responsible company owner means establishing trust between customers, employees, and partners. Trust is the foundation of a successful and healthy relationship, which can significantly impact your organisation’s bottom line. It also allows you to enjoy more repeat business, as stakeholders will likely recommend you to others and remain loyal to your brand. 

Although delivering on promises, providing excellent customer service, and creating a positive work culture is essential, they’re insufficient for succeeding. Therefore, your organisation must invest in blockchain technology. These tools provide a decentralised and transparent system for recording and verifying transactions.

If you’re ready to help your business stay efficient and trustworthy, this article will define blockchain technology and how it can help you. 

What Is Blockchain Technology? 

Blockchain is a distributed database that structures data in blocks to form an irreversible information chain. This system creates a decentralised system that records transactions or data securely and transparently.

4 Ways Blockchain Technology Can Help Establish Trust

All businesses deserve to enjoy repeat business with partners, but that only works if you can prove your trustworthiness. Here’s how blockchain technology can help you with that. 

1. Tokenise the Financial Market

People can convert almost anything into a token, meaning you can create a representation of something else to store on a blockchain. The advantages of using this technology include constant access throughout the year, faster transaction processing, and the possibility of being open-source using a public blockchain. That way, you can eliminate the need for back-office reconciliations and separate systems.

2. Ensure Smooth Property Transactions 

Blockchain technology can penetrate industries beyond banking and finance, like the property market and higher education institutions. Its transparency and speed can improve property transactions, which often involve a lot of paperwork, potential fraud, and errors in public records, making them more efficient, safer, and more manageable.

3. Create New Payments for Stores

Merchants in online and physical stores are increasingly accepting stablecoins as payment. Stablecoins are a cryptocurrency pegged to another currency or commodity. This payment type is more cost-effective than credit cards and offers faster settlement times, with liquidity available immediately instead of tying it up over the weekend. 

4. Promote Better Security and Scalability 

Developers are turning to blockchain to enhance security and scalability for IoT devices. This technology can provide a more robust encryption and data security level, making it virtually impossible for cybercriminals to overwrite existing data records. It also allows for transparency and trust, minimising the need for intermediaries and cutting costs and access delays.

Why Are People Still Apprehensive about Blockchain?

The main obstacles to blockchain adoption are:

  • Its newness.
  • The shortage of skills needed to develop and use it.
  • Apprehension around the technology.
  • Lack of trust among users.
  • The need for due diligence.

How to Prevent Cyber Attacks on Blockchains

Users must trust the people behind the software, as reputable blockchains can also be vulnerable to cyber-attacks like ice phishing and private key theft. You should also be careful when transacting on the blockchain and verify the wallet software identity, especially when using open-source blockchains, which rely on blind trust in the software. Moreover, up your security and get recourse by investing in customised tools. 

How to Optimise Blockchain Technology for Business

Businesses can use blockchain technology optimally by requiring transparency, which they can achieve by showcasing how peers and competitors collaborate to develop solutions to common challenges. For instance, global logistics networks can highlight the potential benefits of blockchain.

Are Blockchains Still Prone to Cyber Attacks?

Innovations like artificial intelligence, machine learning and intelligent contracts will expand blockchain applications in manufacturing, farming and design.


Blockchain technology is a worthwhile business investment, but others are still apprehensive about it due to the risk of cyberattacks and its newness. You can build business trust by promoting transparency and demonstrating using this tool. 

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