Blockchain

Empirica Finland is the leading blockchain developer in Finland and one of the best in the world. Blockchain technology solves trust and security issues as well as brings cost savings.

What are we talking about?

The most common misconception is that blockchain is the same thing as bitcoin or other cryptos. It sure is not, even though cryptos use blockchains. In short, it is a technical solution that stores and transfers data. It is a database with far better security, trust and natural mechanisms to send “value” based on some rules. 

Blockchain’s native property is that it transfers value (like money or something else that has financial value) in a tamper-proof manner. Data cannot be revised or if it can it leaves a mark which means no central point can cheat. That means security and trust – data using a blockchain implementation can be trusted without a 3rd party validating it, which in many cases make it faster and less expensive as middle-men are no longer needed. 

Another key feature of the implementations is the smart contracts. Transactions can happen only based on coded “agreement” that defines who can do what where when etc. This feature can automate many processes that before have needed a human factor.  

Benefits of blockchain

There are many benefits in blockchains. As mentioned, they bring significant security and reliability. It better improves data security compared to a traditional database or cloud, as its data is not verified by a single centralized actor but is based on numerous nodes, all of which must have the same information. The data cannot be distorted and because the data is encrypted it is not so simple to crack.

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Information security

Data security is tremendously better compared to a traditional database or the cloud. Blockchain data is not verified by a single centralized operator, but is based on numerous nodes that must all have the same information.

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The data is encrypted

The data is encrypted and the next generation of quantum computers would be required to break the encryption methods used by blockchains.

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Data cannot be distorted

All transactions can be verified backwards, which prevents data distortion.

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Smart contracts

With the help of smart contracts, an endless number of applications can be built on top of the blockchain, just like the Internet in its time.

Our services

So how could all this benefit your business? It is completely case-specific and always requires specific planning. If you need security, trust, cost savings, then blockchains may be the right solution. 

As said, Empirica Finland Oy is Finland’s leading blockchain developer and of the best in the world. In addition to that, we have a wide range of other services that could be beneficial for your business operations. Contact us to discuss what our company could offer to your business. 

What does custom software development cost?

Customized software is unique, so the cost of software development also varies. The price consists mainly of labor. Workload planning can be used to estimate the final cost of development, which consists of, among other things, the number of features to be developed, the complexity, the project schedule, and the number of integrations, publishing platforms, and views required.