Is B2B compatible with the Blockchain?
Blockchain is a sophisticated algorithm created for cryptomonnaie. It drives a distributed data structure that manages electronic cash movements. It replaces the administrative role of a central bank or government support.
The blockchain is the dealer and distributor of virtual parts. Crypto corners are not transported or handled, but they trade, multiply and function thanks to the chain of blocks in the center. If you imagine a large business book that is updated in real time, multiplying this image by billions of data spaces will give you an illustration of how the block chain works.
For B2B businesses, it can be a virtual bank – moving money, accepting deposits, making transactions and more. This differs from online banking where your business is subject to regulation, supervision, business hours and other restrictions.
How does Blockchain technology help B2B businesses?
The Blockchain is open to all members of the network. An IBM report notes that “this’shared version of events’ improves supply chain efficiency, better collaboration and simplified resolution processes for exceptions or differences. It does not replace old supply chain software, but it does engage new realities such as the expansion of data flows presented by the Internet of Things.
Improved sales processes. “The B2B sales process is based on relationships and responsibility,” said Jeremy Epstein, marketing expert for the block chain and CEO of the block chain consultancy Never Stop Marketing.
B2B sales relationships are continuous, have a longer lifespan and generally require a longer sales cycle than B2C sales. “Trust is essential to successful B2B sales and block chain technology is a way to accelerate the creation of trust relationships at a lower cost,” he continued.
His e-book, The CMO Primer for the Blockchain World, points out that only 50% of companies check the buyer’s creditworthiness, request secure forms of payment, or both. In addition, 81.5% of businesses report using credit management policies to mitigate business risks.