A blockchain is a decentralized digital ledger that saves transactions on thousands of computers around the globe. Blockchain technology increases the security and speeds up the exchange of information in a way that is cost-effective and more transparent. It also dispenses with third parties whose main role was to provide a trust and certification element in transactions (such as notaries and banks).
Procept Africa will support organization through our methodology to develop/build blockchain platform. Procept Africa will ensure to follow the CBN blueprint to work with organization in the blockchain space by enhancing compliance to established/directed regulations and standards as directed by the regulatory and standardized bodies.
Benefits of Conducting Blockchain application development includes:
- Improves data security
- Creates greater transparency
- Creates instant traceability of transactions
- Increases efficiency and speed
- Automates easy access for users’ transactions
- Secure payment transactions
- Safeguard digital transformation that requires multiple users
- Increases reliability
- Create a digital identity for users
The methodology of conducting Blockchain Application Development is depicted in the diagram below:
