Is Blockchain the new helping hand for ISV?

As a company knows, the first step to digitization always begins with the implementation of IT and related technologies. With the advent of digitization, one realizes the prospects of using cloud computing and cloud storage.

For enterprise, digitization should be the use of technology to ensure that the processes run more smoothly, and there is minimal hindrance in the efficiency of a company. With adequate support from ISVs, anyone can tailor an applications to suit your needs, or give you a combination of a few products.

However, how does the Blockchain software allow service providers to ensure better digitization of companies?

Blockchain has shifted from merely being a ledger for cryptocurrency, to becoming a sort of a “translator”, so to speak. It would not only allow the data exchanged between companies to be viewed easily, but it would also ensure that the data could be converted from one form to another easily.

For ISVs, Blockchain are very effective in terms of hiding sensitive information, facilitating traceability, better security systems, and secure methods of payment. This has many capabilities when it comes to using it for softwares that deal with the exchange of money, either via online transfers or, as Japan has now legalized, in cryptocurrency.

Along with that, blockchains allow software to interact better with each other, by the method of translating the data. This is especially useful if an ISV were to be offering, let us say, three different types of softwares that use three different languages, to one company.

Blockchains are being used in banks, slowly. In addition, as the predictions go, it shall be used extensively in the next 15 years, in almost all aspects of IT, and maybe day-to-day applications too.