How Blockchain brought a revolution in MLM Industry – Ico App Factory
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How Blockchain brought a revolution in MLM Industry – Ico App Factory
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Today, the world is moving so fast towards the new technologies, the traditional ways of payment process are now outdated. The Development in the field of payment gateways, Blockchain, UPI’s has given a boost to the online world and now it’s your time to grab your potential customers from this online world. Now, using Blockchain Technology is the smart move to grow your business.
Ico App Factory, India based company. We provide you all the online solutions for Blockchain to grow your business. We have a group of active and energetic workers who full fill the requirement for our clients. Blockchain Technology the revolutionary concept that changed the phase of digital industry is a game changer. And talking about the MLM industry, a marketing model that keeps the sales and network building align together to make the business a proper ‘BRAND’ tag. Conceptualize something with blockchain is a dream come true moment and blockchain has got such potential to change the MLM industry.
Blockchain technology aids the business in many ways and as far as it is a concern, now it’s the validation part is carried out by the nodes. Marketing industry got its path right after the multi-level marketing ideas begin to gain the prominence.
Blockchain technology manages the every currency transactions. But Blockchain is not limited to just currency but enlarges to any domain where anything of value is transacted, be it contracts, personal information, health records, business data and much more.
A blockchain is an excellent form of Database storage system, which uses records to store data or information. These records or blocks get copied automatically with the mechanism of cryptography providing a more secure data storage platform. This means, your data is stored securely in multiple areas, reducing the overall cost of data storage. The blockchain is the technology which supports the cryptocurrencies and Digital currencies.Blockchain assures that transaction continued into the blockchain database which is stable.
Essentially, MLM operates as an expandable mechanism in which people keep encouraging new members to join for the expansion of operations. In the MLM model, the contribution of every single member and incentive distribution as per their performance becomes essential. Therefore, it is necessary to bridge a connection between end-users and wholesalers as both serve as the base of this business.MLM models are successful as the network expands rapidly while giving leeway for every member of the network to taste success. Now, let’s take a look at the types of multi-level marketing.
MLM models come in various types which make it easy for enterprises to expand the distribution of products or services by adopting one of its structures like matrix MLM plan, investment MLM plan, uni-level MLM plan, stair-step MLM plan, Australian binary plan, generation MLM plan, binary MLM Plan, broad plan MLM plan, etc. An enterprise must seek the service of a smart contract and cryptocurrency development company that holds expertise in developing both concepts.
Blockchain Smart Contracts and MLM
Smart contracts work according to blockchain’s characteristics like immutability, transparency, traceability, and efficiency to maintain anonymity in the transactions. Indeed, blockchain smart contracts enable business owners to review terms and conditions and customize them as per their enterprise needs. It is crucial to hire a blockchain and crypto development company that can make the system as descriptive as possible.
Powering MLM business with blockchain smart contracts eliminates the chances of the scamming of an MLM business. Also, the use of smart contracts empowers all types of MLM business plans. An MLM Platform powered by a smart contract solution excludes the involvement of all third-parties, establishes a peer to peer architecture, provides multiple payment gateways, eliminates malpractices, ensures strengthened data security, fast and secure transactions, effortless traceability, anonymity and transparency.
The transparency of MLM Plan & the blockchain
Make a donation, and earn from that donation. Well, once the system is integrated using blockchain then, the whole system will be transparent. The transparent nature makes sure of one important thing – Is the donation process completed or not?
Say, a request came up, and you made the donation but, you’re worried about various matters like the escrow value, the donation is accepted or not, whether the donation is done to the right person or not, etc. The limitations or the constraints got its solution, and the plan gets a “TRUST” sign. The business will also gain the required fuel to maximize its opportunities by building up an open network.
Why choose us for Blockchain Development?
Developers with Product Mindset
The Blockchain powered verification system developed in-house is getting introduced in the Aviation industry.
Experts with Research Mindset
Crypto Soft India professionals have worked closely with some of the leading Crypto’s in the market to tokenize the content web.
Consultants with a Startup Mindset
Every Blockchain Developer is trained to coordinate closely with customer and ideate their solutions.
How it Works?
In this phase, the technology team also joins the conversation ( along with the Blockchain domain consultants ). The main Moto of this phase is to refine the entire requirement and make it crystal clear, so everyone are on the same page and everyone in the team understands the idea and deliverable very clear. All this will be added to the note.This note will be used by the Blockchain developers during the development phase to better understand your requirement.
Ico App Factory Blockchain Consultants are equipped with the latest news and trends in the Technology world. They will brainstorm with you on your idea and create a detailed note. During this phase they will also put in maximum effort to add more value to your proposition and tweak the idea with your permission.
Code & Fix
In this phase Blockchain development happens in full phase. Each blockchain developer in the team coordinates very closely with you and assigned to the project to bring out each module flawlessly. Ico App Factory follow an agile methodology, where you can see the live results of each module being developed and give feedback. Fixes happen then and there.
Once the Blockchain development phase is over, the UAT phase starts. The testing happens along with bug fixes and fine tuning. After every issue found is fixed and you give a sign off an overall polishing of the project happens. Finally your project is ready for launch. Our Blockchain developers will start deploying the project on live servers.
Applications of Blockchain Development Services:
Blockchain can support a wide range of applications. The most well known is cryptocurrency like Bitcoins. Blockchain-based applications include any business transaction that can include right from Business order tracking, Supply chain, Banking and Finance, E-learning, Healthcare, Online shopping portals, Insurance, Travel, Music, Renewable energy, Contract validation and so on.