Gartner Research: “Blockchain business value-addition to reach $360 billion by 2026 and $3.1 trillion by 2030.”
Technology is at the core of the Fourth Industrial Revolution. Enterprises that excel in latest technologies hold an advantage over their competition. While multiple technologies co-exist, some stand out of the league because of their intrinsic nature, efficiency, and ability to solve a myriad of problems. Blockchain technology is a result of first-principle thinking. Though it has existed for at least a couple of decades, its real enterprise potential has been realized only recently. Almost every single industry which is led by financial services is experimenting with blockchain technology. We’re going to explain how TreeCoin plans on using blockchain technology in its initiative.
Why blockchain technology is an ideal choice for TreeCoin
TreeCoin intends to leverage the economic and technical competence of blockchain technology in its venture. Here is how using blockchain technology will benefit all the participants of the TreeCoin project.
- Transparency: Transparency is one of the most critical aspects of blockchain technology. While the transactions on public blockchains are visible to everyone, secured or controlled blockchains allow restricted access to project participants only. It allows different project shareholders to track the progress, financial activity, and utility of financial resources throughout various stages of plantation.
- Efficient financial management: Choosing blockchain technology allows TreeCoin to issue tokens, both TREE and TXC, on the blockchain instead of legacy share issuance. The project participants receive regular dividends in their respective wallets. This is making it easier to track their returns. Additionally, TreeCoin can cut its financial management expenses through transaction automation, using smart contracts.
- Better security: Security is another cornerstone of blockchain technology. It uses cryptography to secure the transactions. Additionally, the distributed nature of blockchain provides its immunity against security threats. In case of a controlled blockchain, having multiple dedicated nodes to monitor the network eliminates. Or at least mitigates any chances of a security breach.
- Heightened speed and efficiency: Blockchain technology comes with an efficient design, making it easier to manage the different aspects of financial or other transactions on it. TreeCoin will achieve higher efficiency through the implementation of blockchain technology for some of its business processes. Furthermore, operating through a controlled blockchain will allow TreeCoin to address the speed problems otherwise witnessed in open protocols/projects.
The bottom line
TreeCoin aims to build a sustainable growth model for the timber industry. Implementing cutting-edge technologies for higher efficiency is a part of this objective. Our goal is to create an operational framework that optimizes every aspect of our operation, allowing other enterprises to use it in the future.