{"id":246211,"date":"2021-12-18T06:15:18","date_gmt":"2021-12-18T06:15:18","guid":{"rendered":"https:\/\/imarticus.org\/?p=246211"},"modified":"2024-03-26T10:42:28","modified_gmt":"2024-03-26T10:42:28","slug":"promoting-digitization-in-the-commodity-industry-with-blockchain-in-fintech","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/promoting-digitization-in-the-commodity-industry-with-blockchain-in-fintech\/","title":{"rendered":"Promoting digitization in the commodity industry with blockchain in Fintech"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Gone are the days when visiting a bank was the only way to make a financial transaction. At present, people can easily make financial transactions with just a few taps on their smartphones. The rise of fintech has helped people make financial transactions while sitting on their couches. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Have you ever wondered what technology stack makes fintech possible? Well, blockchain is one of the primary technologies used by the fintech industry. Many young enthusiasts go for a\u00a0<\/span><b>blockchain certification<\/b><span style=\"font-weight: 400;\"> to enhance their skill set. Read on to know how blockchain in fintech is prompting digitization in the commodity industry.<\/span><\/p>\n<p><b>Role of blockchain for financial technology<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain is among the new-age technologies that are decentralized. Financial transactions in the commodity industry have become more secure with blockchain. The costs incurred by companies in the commodity industry for financial transactions are also reduced with blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-246212 size-full\" src=\"https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2021\/12\/wjfkkfbkejg.png\" alt=\"best Fintech courses in India\" width=\"1127\" height=\"379\" \/>Companies in the commodity industry have started to realize the worth of blockchain experts. They are proactively hiring individuals that have <\/span><a href=\"https:\/\/imarticus.org\/Professional-Certificate-Course-FinTech\/\"><b>blockchain certification<\/b><\/a><span style=\"font-weight: 400;\">. Some of the use cases of blockchain for fintech are as follows:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Since blockchain is a distributed technology, single points of failure that disrupt the entire system do not occur. There is no work for any intermediatory in a blockchain-powered transaction. The need for transfer agents is reduced since the introduction of blockchain. Blockchain-powered transactions are nearly impossible to be hacked or manipulated.<\/span><\/span>&nbsp;<\/li>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Blockchain is a shared platform that enhances the transparency of network participants. The best part of a blockchain network is that participants can only see the financial transactions. Under no circumstances, a participant can change the financial transaction on a blockchain network.<\/span><\/span>&nbsp;<\/li>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Due to its transparency, blockchain helps network participants to collaborate and access financial\/transaction data. Opposite parties can come to an agreement quickly due to the transparency of a blockchain network.<\/span><\/span>&nbsp;<\/li>\n<li><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> You can create tamper-proof software to support your business logic as blockchain offers high programmability. Blockchain also allows businesses to share data selectively to maintain privacy. According to stats, blockchain offers around ten times more cost benefits than other technologies for making financial transactions.<\/span><\/span>&nbsp;<\/li>\n<li><span style=\"font-weight: 400;\"> Blockchain is a scalable technology and can adapt if the number of fintech transaction increase considerably. Each company in the commodity industry gets a global reach with blockchain and fintech. If there are periodic surges in the transaction activity, blockchain is capable of handling them.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A company in any commodity industry can go global and indulge in cross-border transactions with blockchain. Products offered by different companies in the commodity market are more or less the same. Different companies in the commodity industry compete for price with each other. When a company reduces costs incurred in making\/managing financial transactions with blockchain, it can provide discounts to buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are working in the commodity industry, a\u00a0<\/span>fintech course<span style=\"font-weight: 400;\">\u00a0with blockchain can help you upgrade your career. Companies in the commodity industry are also focusing on hiring employees that have done a\u00a0<\/span><a href=\"https:\/\/imarticus.org\/Professional-Certificate-Course-FinTech\/\"><b>fintech course<\/b><\/a><span style=\"font-weight: 400;\">. Blockchain and fintech experts can help companies in safeguarding their financial transactions.<\/span><\/p>\n<p><b><img decoding=\"async\" class=\"alignnone wp-image-246213 size-full\" src=\"https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2021\/12\/fbejbfje.png\" alt=\"best Fintech courses in India\" width=\"1313\" height=\"432\" \/>Why choose Imarticus\u2019s fintech course?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">We offer a PGDM, MBA, and certification course for financial technology.\u00a0<\/span>Fintech<span style=\"font-weight: 400;\">\u00a0courses will help you in learning the tools and technologies used in the industry. Among all the technologies used in the fintech industry, there will be a focus on blockchain. We also offer placement support to students who choose our\u00a0<\/span><a href=\"https:\/\/imarticus.org\/Professional-Certificate-Course-FinTech\/\"><strong>financial technology course<\/strong><\/a><span style=\"font-weight: 400;\"><strong>s<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You will work on several real-life projects during your fintech course. Not only you will learn industry practices, but also learn job-relevant skills with a <\/span>financial technology course<span style=\"font-weight: 400;\">. Start your fintech course to make financial transactions in the commodity industry secure!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gone are the days when visiting a bank was the only way to make a financial transaction. At present, people...<\/p>\n","protected":false},"author":1,"featured_media":246077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22],"tags":[918,982,1843,2359,3047,3087],"pages":[],"coe":[],"class_list":{"0":"post-246211","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"tag-fintech-career","9":"tag-blockchain-career","10":"tag-fintech-online-training","11":"tag-best-fintech-courses-in-india","12":"tag-best-blockchain-courses","13":"tag-blockchain-in-fintech"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Promoting digitization in the commodity industry with blockchain in Fintech<\/title>\n<meta name=\"description\" content=\"Many young enthusiasts go for a\u00a0blockchain certification to enhance their skill set. 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