Crypto world at your finger

tips!

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 2

Cryptoknowmics is an
innovative decentralized
platform that serves
almost every aspect
of the crypto space.
It aims to be the top
destination and the
largest media portal in
the crypto world and the
all-in-one solution for
information and services
for the industry.

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 3
Why Small Businesses Need Blockchain
The current business atmosphere puts many small and medium-sized
ventures in a disadvantageous position. Although they play a crucial
role in building any major economy, they continue to face barriers to
entry. In such challenging times, it has become evident that small
businesses need blockchain technology to fuel their growth and
survive in a market that is heavily tilted against them currently.

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 Streamlining Business Flows with Blockchain
Small businesses often neglect the fundamental processes of inventory,
invoicing, and payroll in their bid to focus on scaling their businesses.
However, business flows that support their products and services also need
to evolve. Small companies often resort to purchasing a CMS or CRM
platform or hiring the services of a service provider. Blockchain, through
smart contracts, offers a more economical alternative. Using this, they can
create and enforce deals between users, who will serve as their clients and
merchants. With smart contracts, companies can solve the issues of
handling inventory fulfillment, settling interest fees, paying employees and
bills, closing new deals, creating insurance policies, or any other
transactional activity. While this may sound too complicated, blockchain
online courses for beginners can help them learn the basics of technology
and employ them in their processes.
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 Boosting Security and Enhancing Privacy 3

Any significant reduction in overhead costs is advantageous for small

businesses. But security and transparency are also value-added benefits,
which is why small businesses need blockchain. Through a system of
cryptography-protected public and private keys, small businesses can
ensure that they are verified by the services without giving away their
personal or financial information that is sensitive. Also, web-based attacks
cost small businesses a lot of time and money. However, the decentralized
nature of the blockchain requires the hacker to breach all the peer nodes
simultaneously. Thus, it becomes almost impossible to carry out DDoS
attacks.

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 Bridging the Gap Between Big and Small Businesses 3

The rigorous procedure for obtaining a bank loan often starves businesses
of the time they could otherwise devote to more productive activities. As
such, small businesses are usually starved for funding. However,
several past ICOs have raised much more funds than their expectations.
An ICO is a way for startups to raise capital by offering their crypto tokens
to willing buyers. This has made it convenient for ICOs to raise funds as
the team employed to create the token, and the track record of the
company fuel the token’s value. Although inconsistent, it has helped to
fund hundreds and thousands of new businesses.

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 Conclusion 9

Blockchain is a new technology, and the infrastructure that exists in

most places is struggling hard to support it. However, it represents a
rising tide, and small businesses need blockchain if they want to be
successful in the near future. As blockchain gains more stability,
small and medium-sized enterprises will explore new ways of
business are emerging.

Source
https://blog.cryptoknowmics.com/why-small-businesses-need-blockchain/

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 14

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Features
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DApp listing & review ICO Launchpad

Crypto gaming platform Blockchain tutorials and courses

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 26

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