How Blockchain Technology is Transforming Mobile App Development
By Debora John
Blockchain technology is the talk of the down. People all over the world are excited about blockchain technology as it makes day-to-day transactions faster and more secure than ever before.
The worldwide blockchain market is forecast to grow more than hundred times to 163 billion U.S. dollars by 2027. (Statista)
Like all, the inclination towards the adoption of leading-edge technologies is boosting the mobile app development industry too. People no longer feel vulnerable while conducting an online transaction.
Blockchain has changed the way we see mobile apps. In this article, I’m going to discuss the impact of blockchain on mobile app development and how you should approach the process of creating one for your business.
The Impact of Blockchain Technology on Mobile App Development
Blockchain Means Impenetrable Security!
The biggest advantage of blockchain technology is peer-to-peer transactions; there’s no middleman involved. Thus, the data shared or monetary transactions conducted remain secure.
For a mobile app development company, security remains a pressing issue. Whether they are developing an iOS app or an Android app, an app with a security loophole will be rejected by both the client and the platform it’s designed for.
With the integration of blockchain in a mobile app, developers can create highly secure applications for all industries.
Mobile app development agencies design blockchain-based mobile applications in such a way that users can track every single transaction. This ensures 100% transparency and enhanced user trust.
Therefore, we can say blockchain technology reduces the chances of any fraudulent transaction and fabricated information. Blockchain is the key to creating a resilient and tamper-proof system that people can trust.
This transparency boosts users’ confidence and paves the way for strong relationship-building with clients.
Efficient & Rapid Transactions
Many institutions design and implement mobile apps that facilitate business operations and improve the customer experience. As it goes without saying, blockchain makes transactions extremely fast—without compromising on security.
As there’s no third party or a mediator involved, blockchain streamlines and automates mundane processes. So it doesn't matter what your app is about and the traffic it gets, blockchain technology will ensure efficient operations 24/7.
Privacy & Integrity
For any online business, protecting customers’ confidential information is a huge challenge. Every now and then news comes out regarding a failed hacking attempt or a successful data theft.
While businesses come up with varying ways to deal with this issue, blockchain technology is the go-to choice of worldwide business in this regard. App users can verify the system and every transaction, and remain stress-free that their private data is not shared with anyone else.
More Fintech Applications
Financial applications are always vulnerable to data theft and hacking attempts. So even if you have a revolutionary idea and some capital, you might get cold feet at the last moment.
Blockchain technology has removed all such worries. There are no such obstacles when it comes to developing a financial app. This is why we are seeing more and more financial applications being released daily.
The global fintech market is expected to reach $309.98 billion at a CAGR(compound annual growth rate) Of 24.8% through 2022. If you have an idea, don’t sit idle; act today. Investment in Fintech app development might turn out to be a turning point in your life.
How To Integrate Blockchain In Your Next Mobile App
So, are you looking for blockchain mobile app developers in Dubai? Hold on. Before you hire someone, let’s do some research and brainstorming to be clear about your goals and objectives.
1.Decide if Your Blockchain Fits Your App or Not
Well, before you take a step ahead, it’s worth thinking if blockchain technology is required in your mobile application or not. Integrating blockchain adds up to your mobile application development expenses, so for simple content-driven apps, it's not recommended.
But, however, if you are developing an app that includes features like payment gateways and transaction interface, and the active support of decentralized database technology, blockchain will work perfectly here.
2.Find a Reliable Blockchain App Development Company
It’s one thing to jump on the “blockchain” bandwagon and another to create something worth using—or something revolutionary for your target audience. Thus, it’s crucial to connect with the right app development company.
Once you have done the research about your idea and see potential in it, discuss it with multiple companies. Weigh the portfolio of all contenders, get a quote and ask about the estimated timeline, and choose your app developer wisely.
3.Get Things Rolling
Now when you have an idea and the services of an experienced app development team, it’s time to turn your idea into reality. Throughout the process, inquire about your app’s progress, and don’t hesitate to ask for demos.
Blockchain is indeed a revolutionary technology. When used in the right way, blockchain will make mobile apps efficient and secure. Industries like real estate, finance, banking, and healthcare are already using blockchain technology to take the user experience to a whole new level. If you wish to follow in their footsteps, hire blockchain developers for your project needs.