For as far as our history can recall, people have been involved in some kind of business transactions even if they were still bartering goods. Doing business is pretty much a part of who we are as a species at this point; even if you aren’t an entrepreneur of some sort, you’re still selling your skills and time to earn money. When it comes to doing business, it’s very important to keep a track of things and that’s where the trouble comes in as well.
In a perfect world where no one cheats or tries to manipulate truthful information to gain their own benefit, we wouldn’t have to worry too much about the authenticity of accounting data but the fact of the matter is that we don’t live in that kind of a perfect world and we have to take precautionary measures to make sure that every piece of data is authentic. Yotta Laboratories is making an effort to bring Block chain, a technology that was previously only used to keep track of crypto currency, into businesses that can benefit from it.
Block chain is a virtual ledger that exists on a network of interlinked and independently owned computers, making it the most decentralised way of keeping tabs on any kind of data, whether it’s financial or about warehouse keeping. By using block chain, businesses can manage their supply chains like never before; the movements of goods can be tracked in real time, their very origins can also be traced and altogether, this will allow for a never before seen level of transparency between businesses buying and selling between each other. All irregularities can be tracked to their exact source as well, making quality assurance simpler than ever.