BSI, 15th October 2020

BENEFITS OF BLOCKCHAIN TECHNOLOGY

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“Virtual Database Banking for Next Generation augments the GDP growth of the economy up to $1.7 trillion”.

A digital public ledger for financial and business transactions of different applications especially known for its security, transparency, and speed is going to explore a huge amount of impact on the global economy up to trillion dollars in the upcoming decade. So it’s the time to amend this technology from a future perspective.

What is this blockchain?

The name itself shows that the records in blocks are digitally connected together as chains that are immutable, decentralized, distributed, and easily accessible across the world. It maintains the distributed ledger across the entire network of the computer system through this blockchain. It is working on the interoperability platform between the network organizations.

What is it actually doing?

It is simply acting as a single shared distributed ledger that connects multiple databases through this blockchain technology which is much secured and almost impossible for ‘Hacking’… The transaction takes place in 4stages. I.e initiative, verification, storage, and hash value representation. This everything happens for every individual transaction and so because of this hash value, No duplication will. occur.

Why blockchain technology is a comprehensive solution?

In this digitalized era, threats like, demonetization occurrences, inflation, or time-consuming paper transactions definitely need a breakthrough. In this new normal period, individuals and organizations become completely internet-dependent on the remote working environment, virtual meetings, etc. Therefore moderate acceleration requires in the field of professional services, health care, manufacturing, retail, and other industries.

So we are actually in need of a virtual setup for digital transactions. Here come the blockchain technology and development with secured connections to connect us in cyberspace. Blockchain technology is typically known for cryptocurrencies. But it can also be used in medical transcriptions, Real-time IoT Operating system, voting system, original content creation, organization or logistics monitoring, personal identity, government, banks, public or private sectors, retail, manufacturing, industries, and some more applications too.

Benefits of Blockchain development

The shared ledger is validated through consensus that everyone must agree on it

The data shared here is more secured, accurate & transparent

Auditing work is quite easy

No intermediaries So the reduced cost

No duplication, as it records only once which is immutable

Makes it harder to tamper with

Business Software India can help you with that. We develop Exchange Software in such a way so that the Private Blockchain Integration with Hyperledger Technology builds Permissioned Blockchain to monitor completely by the Exchange owner.

Other than these, this exchange uses Multiple DLT Technologies, Complete Re-write in Go language and C++, and can exchange live data. With our white-label exchange software, you can create your brand and business to its full success. Our blockchain dev team will provide you 24×7 tech assistance. This is the perfect solution for your 360-degree scope that you may require.

A Click will be an Accomplishment

 

WHAT IS WHITE-LABEL EXCHANGE SOFTWARE? WHY IT IS BENEFICIAL TO YOUR BUSINESS

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BSI, 7th Sep, 2020

Blockchain has been a disruptive technology in finance, distribution, health care, education, and many other sectors. The major feature of blockchain is, it’s secure with the highest possible data integrity, privacy-centric, and open nature. Blockchain is a Distributed Ledger Technology (DLT), which enables users to have their data stored, openly, anonymously, and securely. Blockchain not only disrupted currencies as a trading tool and its usage but also gave a paradigm shift in other financial tools like securities, funds, and other similar instruments. Finance being its first application, has benefited immensely using various innovative and ground-breaking features of the technology.

WHAT IS WHITE-LABEL EXCHANGE SOFTWARE?

White-label exchange software involves a transfer between at-least two parties. And in most cases they rely heavily on continuous trade against another financial tool, usually currency to non-currency and vice versa, to appreciate its value. The more the instrument traded more its set to change its value. And based on the setup and complexity of it, price movement in any direction may generate money for the trader, hence the existence of exchanges.

B2B PLATFORM

White-label exchange software is a perfect solution to B2B businesses, because-

1. Tokenisation of any assets (real estate, commodity, fiat currency, securities, illiquid assets) is possible with White-label exchange software.

1. Trading of any assets including but not limited to, stock exchange, currency exchange, liquid, and non-liquid asset exchange is possible with this kind of platform.

HIGH TRADE GENERATION

The technological backbone of this White-label exchange software platform is Blockchain. It generates high to trade for the traders to trade. This kind of Platform is a complex, high performance and features a rich trading platform, ready to be used in any exchange. In the core of white-label software lies the blockchain for user asset storage.

HYBRID DATA MANAGEMENT

White-label software for exchange is having hybrid data management partially having a centralized database and partially on the blockchain. But since with any public blockchain, high-frequency trade is not possible, for trade match engine, generally white-label software for exchanges can use a centralized database for the sake of traders so that they may have full control over their assets.

WHY BUSINESS SOFTWARE INDIA IS UNIQUE IN DEVELOPING WHITE-LABEL EXCHANGE SOFTWARE

1. Use of Web Socket

Interactive collaborations are now possible over browsers, messaging services, etc. Endless real-time capabilities are made possible through Web Sockets. Business Software India’s White-label exchange software possesses this bi-directional communications link with the server using web-socket.

2. Decoupling all the modules as Independent Engines

Business software India’s exchange software provides you Easy Maintenance, Upgradation, and high-level Flexibility. Object-oriented programming has been advised you to decouple the components or split them into modules, Which is a great solution.

3. Automated queue management system

An automated Queue management system will help service providers to manage customer efficiently. The system can ease customer flow management which is useful for the manager of the Exchange provider. The purpose of this project is to develop an Automated Queue Management System for organizing queuing systems that can analyze the queue status and take decisions about which customers to be served first.

4. Integration of Hyper Ledger Blockchain

In Finance, hacking and laundering is the main threat for the Service Provider. Hence Business Software India builds Exchange Software in such a way so that the Private Blockchain Integration with Hyperledger Technology builds Permissioned Blockchain to monitor completely by the Exchange owner.

Other than these, this exchange uses Multiple DLT Technologies, Complete Re-write in Go language and C++, and can exchange live data. With our white-label exchange software, you can create your brand and business to its full success. Our blockchain dev team will provide you 24×7 tech assistance. This is the perfect solution for your 360-degree scope that you may require.

 

6 WAYS TO TRANSFORM EDUCATION IN BLOCKCHAIN

 

Blockchain is a Distributed Ledger Technology (DLT), which enables users to have their data stored, open, anonymous, and secured. Blockchain has been a disruptive technology in education, healthcare, supply chain, finance, and construction, and many other sectors. The major feature of blockchain is, it’s secure with the highest possible data integrity, privacy-centric, and open nature.

Woolf University, formed by Oxford professors imagines a different kind of university, one that is distributed and democratic. Joshua Broggi, Faculty of Philosophy, is the founder of Woolf Development, a platform start-up that aims to leverage Blockchain technology to remove higher education intermediaries, support decentralized governance structures and ensure the security of data.

1. TAMPER-PROOF CERTIFICATION

Using blockchain to issue digital credentials, enabling students to share verified copies of their qualifications with Human resource agencies, employers, and other third parties in a tamper-proof system. So that academic data cannot be manipulated. DLT provides an open infrastructure for creating, issuing, viewing, and verifying blockchain-based certificates.

2. SCORING THROUGH BLOCKCHAIN

Student everyday performance in class can be recorded through smart contracts, implementing blockchain technology. The software will save everyday records, which can be accumulated at the end of the academic year as an annual evaluation of the students.

3. INTELLECTUAL PROPERTY SAFETY MEASUREMENT

Blockchain ledgers can save data on research projects, new ideas, and innovation of each academic year separately. None can steal any ideas or project detail. Intellectual properties in every aspect can be saved and tracked down through registering the IP assets, copyright, and patents.

4. RELIABLE AND SMOOTH VERIFICATION PROCESS

Blockchain is the best solution to secure data. Educational Data and details can be secured from Playschool to Lifelong education. When a student will move from one institution to another for higher education or professional education in the future or from one state to another or else one country to another, the blockchain asset address will be transferred with full educational history. Blockchain will reduce fraudulent claims of unearned educational credits.

5. COST EFFECTIVE

Automation is a big boost for implementing blockchain in education. Blockchain can automate the admission procedure based on the relationship between learners and educators. Payments can be done through a blockchain wallet, a completely digital and transparent payment option using a smart contract. Educational institutions can reduce administrative costs, accounting costs, and other allied expenses.

6. EDUCATION FOR ALL

Currently, the right talents do not get the right path to take forward. Mostly students choose the wrong stream of education and suffer for lifelong. Blockchain data based on each student’s everyday performance can make a data analysis that will suggest students on which they have their core competence for the future. Without wasting time in exploring failure due to job dissatisfaction, technology can assist best to each student.

BSI, 21st August, 2020

WHAT IS BLOCKCHAIN TECHNOLOGY? 4 POTENTIAL USE CASES OF BLOCKCHAIN TECHNOLOGY

The benefit of Digital Ledger technology i.e. Blockchain technology implementation is exponentially huge. The technical and technological issues in Food safety, Healthcare management, Fintech world, Real Estate Construction will be mitigated completely by DLT technology. Blockchain technology is such a digital transformation process that renovates our global system.

PROBLEMS IN FOOD INDUSTRY

• Unstable production cycles are the most common hindrance to the economic upliftment of farmers. Even when there are good produces, poor distribution and marketing do not allow farmers to earn money that they deserve for their produces. That is the reason for the instability of their income as well and prevents them from staying in considerable profit during their agricultural life.
• Consumers are increasingly interested to know where their food came from, what conditions it was grown in, and when it comes to meat, how the animals were treated.
• The debt trap is one of the common reasons for the low financial state of farmers or farmer suicides. The majority of farmers are often not aware of the government support systems and lending systems, which make them go to private and unauthorized lending systems.

SOLUTION THROUGH BLOCKCHAIN

• To maintain supply chain from farmland, poultry farm, fish market, bakery to the kitchens of consumers blockchain ledgers is the Unified and best supply chain management.
• The traditional system of farming comes with the answer that when some food product is found out with allergic or any other reaction, then the whole industry will suffer from the misleading information given by some dishonest farmer. The government will ban the product countrywide
• But The idea of Blockchain in food safety is that each node on the blockchain would represent an entity that has interacted with the food on its way to the store. A farmer whose vegetable does not possess allergic contamination would not be banned by the government if the whole country follows a unified food labeling system.
• To track the data of food It typically takes 7 days to trace (if the food is labeled) the source of the food back to the producers. But with Blockchain Technology it will take few seconds to trace the source of the food.
• It will be an easy, exact method to find out the source of every food crop, vegetables, animal products, etc. The revolution will pave the way for a healthy, zero-waste food chain system.

 

HEALTHCARE MANAGEMENT

“The healthcare industry in India is expected to reach US$372 billion by 2022, driven by rising incomes, greater health awareness, lifestyle diseases and increasing access to insurance.”
–India Brand Equity Foundation

Health insurance is gaining momentum in India. Under this scenario, healthcare with emerging technology is inevitable. Emerging technologies are Blockchain, Artificial Intelligence, Machine Learning, Augmented, and Virtual Reality.

• The medical records of patients can be secured forever with the data that is secured in blocks. Vast numbers of patients’ physical and mental health data cannot be tampered with. Moreover, immutable data will help hospitals and patients with further treatment. In Blockchain technology, interoperability is a significant mileage for the world of technology. The hashtag identifications of each and every patient can be utilized globally; anywhere, anytime.
• Supply chain management is a key service that blockchain can promise to deliver. Reports said pharmaceutical drugs are consistently stolen from the supply chain to be sold illegally to various consumers. To eradicate this problem, the blockchain-based tracking system will assist immensely. From pharmaceutical companies to hospitals and retailers, the tracking process will be implemented properly.
• Blockchain is the only solution for concrete database structures that can minutely and properly store medical data worldwide for the sake of further research and medical headway.
• Medical insurance coverage is a big help for saving lives. A study states medical insurance companies make a profit as much as they make losses out of fraud claims by the patient’s family. To exterminate fraud in claiming insurance, a blockchain ledger can help supplying the medical history of each and every patient. A decentralized database of blockchain can be accessed by the insurance company to verify the similarity between the claim of the patient and the actual cost of medical treatment.
• Tokenisation is a typical concept in DLT (blockchain) technology. Contributing medical data for the sake of clinical trial and research, the patient can be rewarded with token-based points which they can redeem for their future healthcare needs.

FINTECH REVOLUTION

According to the World Bank and First Data, an estimated 1.7 billion people across the globe remain without access to formal financial accounts. On top of this, up to 1.8 billion more rely on semi-formal or informal systems, rather than banks, for their financial services.

This data analysis proves a well-conditioned financial future for blockchain.

• Blockchain-based fintech solution reduces the time and expense of financial transactions
• It eliminates the need to depend on a single third-party authority for trust in any system’s validity.
• Blockchain enables trading is easy, time-saving, cost-effective.
• All users only need a smartphone with the app installed, which then enables them to send and receive funds from across the world.

CONSTRUCTION MANAGEMENT

• The lack of accountability in the construction industry has been an ongoing issue for decades and with extremely squeezed profit margins, firms are poised to find ways to cut corners and deflect blame from the resulting failures. Using the Temper proof Blockchain technology the accountability and traceability are safeguarded. In addition, all the associated accounts can be registered and shared on the blockchain across the parties, hence there is no need for valuable time and resource-consuming additional bureaucracy. Smart contracts can handle these administrative data, accounting documents, and inform each participant through the updated blockchain ledger.

• At a construction site, every labor who enters the site passes its ID card for security, health, and safety reasons. The information about who entered and how much time they spent on site working is captured and registered on a blockchain-enabled distributed ledger between the client, the consultant, and the contractor. In this way, there is no additional administration needed to validate this information, as it has already been logged on the blockchain. Based on the agreed terms with regards to the number of worked hours on-site, a smart contract can initiate payment and send payment certifications for all parties.

• Sensors at the construction site can measure temperature, which data is then cross-checked with the weather data at that particular part of the city from different websites. This data is periodically assessed by a smart contract and when certain terms are triggered, such as too high or too low temperature, the agreed actions, and compensation events can be initiated automatically. Other sensors can send GPS location of structural elements as they are built or RFID (Radio Frequency Identification) information of the arrived materials to update the project plans and monitor progress. The set of sensors on cranes can update its operational status and its leasing terms which are managed automatically by a smart contract.

• Imagine that every key stakeholder of a construction project is part of a blockchain empowered network, governance of the network is based on the consensus and agreement of all stakeholders. A sufficiently advanced digital engineering framework can make sure that BIM technology works as a single source of truth for data while putting the audit trail of design approvals, data verification and project management decisions on a blockchain would result in a combined source of truth that covers all aspects of the project. HOW TO IMPLEMENT BLOCKCHAIN TECHNOLOGY
• You may visit the website of Business Software India. Business Software India builds the top-notch blockchain-based software for your business. Blockchain is the prime focus of our Software Development. Team BSI develops top-notch DLT software solutions for medical, educational, supply chain, and construction sectors to acquire exponential business growth.
• If you want to create a solution utilizing Digital Ledger Technology but are not entirely sure how to plan and to design the solution you want to create Business Software India can help you to plan and design the right solution to fit your needs.

• If you want to create a solution utilizing Digital Ledger Technology but are not entirely sure how to structure the solution you want to create, Business Software India can help you to find the right structure to fit your solution.

  After your solution is handed over and deployed, you usually need maintenance which BSI supply as well if you desire. To ensure long term consistency, you have the option to contract for enhanced maintenance periods as well to ensure long term availability.

 Business Software India,       August 5th, 2020

The Covid-19 pandemic and the resultant lockdown have made work from home an imperative for educational institutions, IT sectors, and several industries. The research said work from home is likely to be constant even in a post-COVID-19 future. At least for the next two years as we go through the cycle of lockdowns and containment, we will go in and out of work from home. In reality, though much of the focus is tagged with the term, “work from home”, it is actually “work from Anywhere”. This trend is not new, it has been in practice in the IT industries for many years. Automobile products have been launched for several years through virtual mode. Recently, MG motor launched the ‘Hector’ brand in India, and they attempted to sell cars largely online.

ONLINE CLASSES

Educational institutions have been taking classes online. The teachers are taking their classes through the remoted channels from their homes. As a sudden adoption, schools, colleges, varsities are facing problems to cope up with the new method. With the help of emerging technologies, like AR, VR, MR, and AI, ML those hindrances can be mitigated. It might undergo certain kinds of transformation, maybe there would be thousands of people or would not be people working in the same one building. Laptop, mobile phone screen has turned into the stage, the home has become an auditorium.

OTT PLATFORM

Audience Etiquette no longer matters, you can lounge on the couch and watch your favorite artiste performance. You can like to share or comment to express your appreciation and meet face to face through an online connection. The Pandemic and thereafter the lockdown has altered the way we engage with the arts, culture, education, and lively hood to the other individual or community through the digital medium to reach out.

OFFLINE MODE OF BUSINESSES

With the lockdown bringing shut down many business centers, shops and showrooms, malls, tourism—all sorts of offline engagements are barred. These inconveniences are not well due to the uncertainty created by job losses due to pandemic. Rather, this pandemic accelerates and catalyze it further. With the uneven distribution of skills across the world, this phenomenon has been gaining momentum for the last few years. During the lockdown, most of the IT offices have done their works from home remotely.

STRUGGLE FOR EXISTENCE 

The tiny micro-living Virus has brought us mighty beings to our knees. We have been forced to retreat and stay within the confines of our homes. There is fear in the air, a word that cannot be found in our dictionaries. It has slowed us down, allowing the rest of the species to catch up. The hunter has become the hunted. The destroyer has become destructible. The balance of power has changed. But we will be back. We will return with more audacity than ever before.

Business Software India   •  July 23, 2020

The security token can be used for real equity or share for an investor. Security tokens confer the tangible benefit of the investors. STO is treated as legal, partial proof of ownership of a company. STO provides investors the security of a regulated instrument, combined with the agility and speed of blockchain.

Many governments are now interested to implement the Blockchain technology. Many corporate giants have recently announced platforms for trading security tokens, and in doing so hope to offer institutional investors a relatively safe and easy way to begin investing in blockchain.

The founder of the company that owns the NY Stock Exchange, for instance, recently announced a new venture, Bakkt, and the Swiss Exchange also plans to build a regulated exchange for tokenized securities.

1. Ownership in fraction build confidence of the Investor

Institutional investors never get proof of ownership of the business in which they invest their wealth. But STO provides ownership of a business entity in Blocks or Tokens. In real estate business scenarios, instead of spending millions of dollars for an entire property (or even a piece of artwork), you can spend far less and buy a fraction of that property.

2. Less time consuming

To clear the purchase of stock, traditional exchanges require min 2 days, whereas through blockchain technology the buy and sell transaction is possible within a few minutes.

3. Liquidity issue in real estate can be solved by STO

In real estate assets, liquidation is a big issue for investors. The hefty price tag and the nature of real estate investment are two hindrances. Traditional Investors scare to invest in real estate. Using Blockchain technology, the share of a real estate can be distributed through Security Tokens.

4. Tracking down the transaction detail in Blockchain Ledgers

Blockchain is such a disruptive technology that can track down each and every detail of financial transactions within a second. So, the invested money and transaction details can be saved securely in the blockchain ledgers and can be transparent to each investor.

5. Opening up Global Investment Opportunity

Foreign Direct Investment is such an instrument for a business opportunity that can not only able industrialists to act on their enterprises but also small or medium scale investors can invest in foreign companies, real estates.

6. Automated Fraud Detection

As STO development is completely a blockchain-based investment solution, fraud detection in a financial transaction or illegal intrusion of any fraudulent activity can be tracked down quickly and thus mitigate the trespassing activity.

Home: https://business-software.in/

Business Software India   •  June 26, 2020

Crypto Exchange Software Development

Since Adopting Blockchain technology, Finance being its first application, has benefited immensely using various innovative and ground-breaking features of the technology. Blockchain not only disrupted currencies as a trading tool and its usage but also gave a paradigm shift in other financial tools like securities, funds and other similar instruments.

Any financial tool involves the transfer between at-least two parties. And in most cases they rely heavily on continuous trade against another financial tool, usually currency to non-currency and vice versa, to appreciate its value. The more the instrument traded more its set to change its value. And based on setup and complexity of it, price movement in any direction may generate money for the trader, hence the existence of exchanges.

Few Governments’ Standpoint on Crypto

The Supreme Court of India passed judgement on 4th March, 2020 striking down the Reserve Bank’s April 2018 circular which bans regulated financial institutions from providing services to crypto businesses.

The judgment accelerated the adoption of cryptocurrency rapidly in India. Several Crypto Exchanges rushed to re-integrate banking solutions and bring back INR support through bank accounts.

Wyoming, a state of USA is enabled with Blockchain technology adoption that assures digital asset holding as legal as Fiat currency-based assets. Wyoming recognizes direct property rights for individual owners of digital assets of all types (virtual currencies, digital securities, utility tokens) and applies the super-negotiability rules of commercial law to virtual currencies—which foster their liquidity—by applying the very same rules that apply to money. Not only property rights, Wyoming’s commercial law reflects the true nature of digital assets (directly owned, peer-to-peer assets) hold the equal value of physical assets.

Estonia, one of the prestigious country in European Union and the first state having 99% public services online. They started building world’s first digital society twenty years back. Adopting all emerging technologies, and now is friendly with digital assets are classified as property for tax purpose; cryptocurrency exchanges are fairly regulated.

In Estonia, the financial watchdog, Finantsinspektsioon (EFSA) and the Financial Intelligence Unit (FIU) are approachable, instead. They cooperate with founders in an easy going, friendly and reliable way. If you follow the (straight and bright) rules, Estonian regulators are ready to help you. Estonia grants two types of license, to offer digital asset exchange platforms and wallet provider services from the country.

Unique Features of Crypto Exchange developed by BSI

1.Hybrid Data Management

Blockchain technology has been always the backbone of our software . But since with any public blockchain, high-frequency trade is not possible, for trade match engine, the software developed by BSI uses a centralized database. But in BSI’s software user’s assets remain in blockchain giving them full control over their assets.

2.High Trade Generation

It’s a complex, high performance and features a rich trading platform, ready to be used in any exchange. In the core of BSI’s software lies the blockchain for user assets storage.

3.B2B Exchange

The more the instrument traded more its set to change its value. And based on setup and complexity of it, price movement in any direction may generate money for the trader, hence the existence of exchange.

4.The White-label Crypto Exchange Software Consists of

• High Frequency Trading Engine
• 3rd Party KYC Service Provider Integration
• Use of Web Socket
• Adaptive to all blockchain
• Live Data Exchange
• High Security Data Storage
• Efficient Queue Management System
• API Driven Software for Wide Array of Applications
• Enterprise Grade Architecture and Frameworks
• Key Based Authentication for Security
• Session less, Rolling Key Based Admin API for Highest Security

BSI has potential clients who run their stock exchanges on a completely blockchain-based basis.

Home: https://business-software.in/

Business Software India   •  June 17, 2020

What is Blockchain technology?

Blockchain is a Distributed Ledger Technology (DLT), which enables users to have their data stored, open, anonymous, and secured. Blockchain has been a disruptive technology in education, healthcare, supply chain, finance, and construction, and many other sectors. The major feature of blockchain is, it’s secure with the highest possible data integrity, privacy-centric, and open nature.

What are the Use cases of Blockchain in Construction?

The benefit of Blockchain technology implementation in the Construction sector is exponentially huge. The technical and technological issues in Construction can be mitigated completely by DLT technology. Blockchain technology can become part of the industry’s digital transformation process and will require strategic and agile thinking.

Temper proof Technology

The lack of accountability in the construction industry has been an ongoing issue for decades and with extremely squeezed profit margins, firms are poised to find ways to cut corners and deflect blame from the resulting failures. Using the Temper proof Blockchain technology the accountability and traceability are safeguarded. In addition, all the associated accounts can be registered and shared on the blockchain across the parties, hence there is no need for valuable time and resource-consuming additional bureaucracy. Smart contracts can handle these administrative data, accounting documents, and inform each participant through the updated blockchain ledger.

Smart Contract

At a construction site, every labour who enters the site passes its ID card for security, health, and safety reasons. The information about who entered and how much time they spent on site working is captured and registered on a blockchain-enabled distributed ledger between the client, the consultant, and the contractor. In this way, there is no additional administration needed to validate this information, as it has already been logged on the blockchain. Based on the agreed terms with regards to the number of worked hours on-site, a smart contract can initiate payment and send payment certifications for all parties.

Project Control

Sensors at the construction site can measure temperature, which data is then cross-checked with the weather data at that particular part of the city from different websites. This data is periodically assessed by a smart contract and when certain terms are triggered, such as too high or too low temperature, the agreed actions, and compensation events can be initiated automatically. Other sensors can send GPS location of structural elements as they are built or RFID (Radio Frequency Identification) information of the arrived materials to update the project plans and monitor progress. The set of sensors on cranes can update its operational status and its leasing terms which are managed automatically by a smart contract.

Building Information Modelling (BIM) and Smart Asset Management

Imagine that every key stakeholder of a construction project is part of a blockchain empowered network, governance of the network is based on the consensus and agreement of all stakeholders. A sufficiently advanced digital engineering framework can make sure that BIM technology works as a single source of truth for data while putting the audit trail of design approvals, data verification and project management decisions on a blockchain would result in a combined source of truth that covers all aspects of the project.

BSI has potential clients who run their stock exchanges on a completely blockchain-based basis.

Home: https://business-software.in/

Business Software India   •  June 10, 2020

Why Automation is Indispensable? Automation is the technology by which a process is performed with minimal human assistance. It has a lot of benefits in the future. Automation-related Artificial Intelligent to empowers their people to focus on what’s important. Automation with AI enables you to enter the organization to be always on optimizing the delivery of goods and services to provide seamless continuity in a dynamic Market.

Is Automation required? Well, it can be related to asking a question to a human whether water is required for digestion? Some say yes it’s required as it helps in diluting the acidic contents and helps aid digestion while others say It does not affect the same. Similar to this answer I would say Yes automation plays a vital role in many industries while it can doom an industry as well. Let’s speak about the pros and cons of Automation. The pros of Automation across industries would be an increase in production rate, reduced time, and higher quality. Reduced Margin of errors mainly human errors that leads to fatal injuries and loss of human life and also resources. Reduced cost of production as there are minimal human interventions required than the conventional way of production. Automation will change the traditional 8 hours of production to say a continuous line of production with minimal human supervision. Like a coin has two faces so does Automation and here are the cons. As automation is set into place there would be a hefty price in reducing the manpower hence leading to unemployment this is a serious problem in developing and underdeveloped countries as most of the workforce are not college graduates who can supervise over the automated machines these are people who rely on hand and brains to do their work. Sometimes in case of a failure in an automated process, it could take hours before the system is up and running that is only if the technicians are prudent enough to identify, rectify, and execute. Automating a production chain comes with heavy investments though it’s a one-time investment it’s still huge. So let’s move into a simple day to day scenario where automation has saved us a lot of time and stress. Let’s take the MRT. One now doesn’t need to wait in long queues to get a ticket, find the platform, enter the cabin, let the Ticket Inspector check your ticket, and add up more garbage to planet earth while cutting down trees for making the paper used for tickets. Automation over here has made our lives much simpler in traveling you just need to swipe in your travel card at the boarding station and swipe out your card at the destination. The fare is automatically deducted and also you saved a lot of energy and time. If you ask me if automation required I would answer you AUTOMATION IS THE FUTURE.

In this world, we all are living with the help of automation techniques. It helps us in increasing production without errors in a short time. The accuracy rate will be higher while using machines. It can increase our safety by performing critical functions. It will make the impossible into possible, it’s an added advantage to implement our human imagination.

we all are depending on automation only. It can save humans from dangerous and hazardous tasks and perform quickly. we can predefine the function one time and can be used at any time. Machines can work even 24/7 by that we can increase our yield. In this lockdown, automation is very useful to us. Because we can follow social distancing with the help of sensor automation. For example, if we are using a sensor in the door without touching it, it can sense us, and automatically the door is opened. With the help of this automation only we are successfully doing work from home. So automation is necessary for today’s generation.

The primary benefits of automation most often were cost reduction, Productivity, Availability, Reliability, and Performance.

The companies that implement automated systems often see positive bottom-line results from their efforts.

However, some personnel issues have surfaced as automation become reality. Many employees view automation will displace many jobs over the next 10 to 15 years. But this solution is to modify the role of automation. Give your employees personnel new responsibilities. As the position is no longer needed. The new technology gives rise to new and greater responsibilities