Hot on the heels of our last episode, here’s a pre-Essen Special where LMDS regular Tony Boydell (designer of Snowdonia, Ivor the Engine and more!) and I discuss what we think will be some of the highlights of this year’s show. Four days of gaming greatness in southern Germany basically becomes nerd Christmas with hundreds (and we mean hundreds) of new releases to choose from, published by companies who flock to the world’s biggest gaming event every year. There’ll be controversy, there’ll be excitement and there’ll be the pair of us lovingly reading out our lists of Japon Brand pre-orders.
How Ethereum Benefits The Business Community
After the Bitcoins, the world is gaga over the Ethereum, whose market cap is only next to the pioneer Bitcoins. It is because Ethereum’s advantages are not only limited to being the digital currency or the secured payment system, its advantages are unlimited, facilitated by its core feature called the smart contracts.
A contract is a written agreement between the relevant parties, which ensures all associated actions are carried out in accordance with the contract’s terms and conditions. In the case of smart contracts, not the humans but the technology make sure the necessary actions are carried out without the need for any third-party interference. That too with such a supreme technology like the Blockchain, the smart contracts are made decentralized and highly-secured, which is the core concept of the Ethereum. To run these contracts in the Ethereum network, transaction charges in the form of Ether, the Ethereum’s currency has to be paid without any fail.
This smart contract feature of the Ethereum is highly-favored by the business community, due to the following benefits or reasons.
Ethereum’s smart contracts are not limited to any specific purpose. That is, unlike the Bitcoins that use the smart contracts feature to allow the transfer of the currency, Ethereum’s smart contracts are capable of handling anything of value and importance, be it the socks, property, money, drugs and so on and therefore, the business can play around them according to their preference. For example, a group of leading pharmaceutical companies is relying upon the smart contract feature of the blockchain to ensure the security and transparency of the drug supply chain, thereby minimizing or nullifying the thefts happening in the industry.
Through this smart contract feature of the Ethereum, from tracking to transfer everything is accomplished perfectly and therefore, more time and energy are saved by the business, leading to more efficiency and more desired output. Efficiency is automatically improved when unwanted middlemen or unnecessary intermediate activities are removed, which is perfectly ensured by the concept of smart contracts beyond any doubt.
- Cost savings
Every business strives to cut down the unnecessary expenditures, for which the smart contracts feature is a boon. We have already seen that the smart contracts feature eliminates the middlemen, which also eliminates the amount of money spent unnecessarily on them. To substantiate the cost-efficiency benefit of this feature, consider the McKinsey report that has estimated the ability of the blockchain in reducing, at least, $50 billion cost for the businesses in B2B transactions by the end of 2021.
All these prove the benefit of Ethereum for the business community, which also serves as the proof for its growing market value. Hence, it is high-time for anyone interested in investing in the Ethereum to secure their spot, which can be done so uncomplicatedly using the Crypto Code, the automated cryptocurrency platform that is reliable and as well as profitable.
Enjoy the podcast and we’ll see you at Essen! Watch out for the special episodes too, packed out with interviews straight from the show floor!
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