Quote from: RAMZA on Today at 02:32:25 AM

Blockchain is a great technology which has many use cases. So blockchain is good for business. One of pros of using it is cost reduction. Blockchain can reduce operating costs by one-third of banking payments and other financial infrastructure costs. The cost optimization, as a result, will enhance profits.

It reduces the cost of operation because there's no need for additional manpower in certain steps along the process as it is already taken care of the blockchain. The only drawback is that if there will be less people involved, those who are employed in that particular step of the process will find themselves redundant and later on, the company will not hire them anymore. Also, the transparency is being addressed by the blockchain technology which is a long running problem in most industries. If businesses will optimize this new technology, they will find that it will indeed improve the efficiency of their operations.