BLOCKCHAIN DEVELOPMENT COMPANY DUBAI
We specialize in custom blockchain-based software development. Whenever you need to build a decentralized system that stores unalterable data records, let our blockchain developers in Dubai work on your project We are Blockchain experts, and implement it on many of our blockchain development projects.
As of yet, there are not many companies offering Blockchain technology Incubasys prides itself in being one of those few who are staying ahead in their game in Dubai, UAE. Our blockchain software development company in Dubai work with clients to built solutions based on blockchain technology solutions that cater to anyone anywhere in the world.
As a leading Blockchain development company in Dubai, We totally understand you need to stay ahead in the game with blockchain!
Incubasys blockchain development company we develop blockchain software that is tailored to the clients’ specific needs. Blockchain technology and apps are becoming popular really fast among financial sectors of society. From banks, corporate enterprises, businesses in general, wealth management and financial software developers are all moving towards this financial future that involves digital money transactions.
Money transaction was never this easy as it has been over the last decade. Internet and software progressed rapidly over the last few years especially in the financial sector making online purchase and trade securities easily. However, the processes through which transactions are made involve antiquated systems connecting clearinghouses, correspondent banks and central depositories which usually take days to complete and are expensive and insecure.
This problem was solved when blockchain came into the market via Bitcoin. Blockchain tries to solve the problem associated with financial transactions by offering an alternative and highly secure path.
What is Blockchain?
Blockchain became famous with Bitcoin’s introduction and the two were considered one and the same thing which later became evident that they are not. Blockchain is actually the technology behind Bitcoin that uses a peer-to-peer network of computers to validate transactions. Blockchain allows users to create and verify transactions immediately without a central authority via distributed ledgers. Blockchain technology at the moment is predominant in the banking and finance sector used by banks like Deutsche Bank, US Federal Reserve, Citigroup, NASDAQ, and Barclays Bank to name a few.
A public blockchain, based on cryptocurrencies, is a completely decentralized chain where anyone can read and send transactions that are stored in a ledger. The degree of influence in the consensus process is proportional to the number of economic resources brought in the system. Some examples of famous public blockchains are Ethereum and Blockstream
Private blockchains are tightly controlled with permissions to made a transaction kept centralized to one organization. The rights to read and modify transactions in a private blockchain are restricted to a central authority which works well for large companies and organizations where they need to keep transactional cost under control and increase validation efficiency.
Key Benefits of Blockchain technology
Blockchain is a highly secure transactional system both from within and outside. The decentralized and encrypted nature of blockchain does not allow anyone to change the data once it’s written unless a consensus is achieved against it. Moreover, the decentralized nature of the system removes the central authority and any chance for anyone to breach the system and hack the database.
It is Trustworthy
Data stored on a blockchain allows users to make and verify transactions without the involvement of a third party which reduces the risk of any unauthorized transactions. As the database expands the more difficult it becomes to tamper with it and easier it becomes to create a robust system.
It is Transparent
The distributed and decentralized nature of the ledger structure gives the entire control of information and transactions to the users. There is neither a central authority nor any other third party to interrupt the process. The data shared and stored on the blockchain is complete, accurate, consistent and transparent with all the members.
The Transactions Are Faster
Traditional banking processes usually take days for any transaction to complete which is not the case with blockchain technology. Since there is no third party involvement in any transaction here, the time for them to complete is reduced to minutes rendering the entire process highly efficient and secure too.
Reduced Transaction Costs
The more parties you involve in a financial process automatically it is going to cost you more. Since there are no third party intermediaries, there are no overhead costs for exchanging assets as well which brings down the overall transactional cost in a blockchain system.
The newer generation of transactional applications benefits greatly from blockchain technology however the advantages of this technology stretch far beyond finance and banking. We have only scratched the surface. Our software development company in Dubai has a team of best blockchain developers working on different blockchain projects.
Our Blockchain Capabilities:
- Expertise with state-of-the-art Blockchain frameworks
- Private Blockchain conceptualization and development
- Private / Public Blockchain apps development
- Smart Contracts creation
- Blockchain applications integration
- Use of Blockchain frameworks to create smart coins/tokens
- Use of distributed databases with Blockchain technology
WE HAVE DONE SUCCESSFUL BLOCKCHAIN PROJECTS
Best-in-Class Blockchain Development Service: Get in touch with our team today and hire the best blockchain developers to develop innovative products