The current condition of everyone uses the online system in various aspects. One of the most familiar online systems is E-commerce. E-commerce has been an intermediary for small and medium enterprises in marketing their products. With a blockchain system, it can be erased. Small and medium enterprises can directly use blockchain for payments, marketing, and even getting loan facilities. There is also a blockchain influencer marketing that can help small and medium enterprises cover a wider market.
Blockchain can open new access to funding for business actors, especially from banks which are still difficult to obtain. By adopting this system, small and medium enterprises will be more developed and can be connected globally.
Small and medium enterprises with blockchain can be well integrated later. In addition, access to funding and ecosystem connectivity can be provided. Blockchain is a central transaction recording system that is not regulated by banks or third parties, but by all users. In other words, this system is a digital ledger that is shared by all customers.
Although it is currently little known in the market, many people expect the technology to develop in the next four to five years.
Blockchain Technology for Port Operations
According to research, blockchain technology is also suitable for application in large ports. The advantage of this technology is that it does not depend on the server and its use can last for 24 hours. Currently, the logistical problems that occur in several countries (especially those with large territorial waters) are expensive due to overlapping regulations between institutions.
If someone wants to send goods to a country, they will be faced with a long and complicated process of documentation and logistics administration. But with blockchain technology, all of these things will become much more efficient, cheap, transparent, and secure.
Blockchain is a technology that does not use third parties in a process of exchanging data in the transaction process. This technology is not managed by one organization, but by many institutions that are distributed publicly.