Working with White Label Blockchain Solutions

White label blockchain solutions are the way to go for businesses looking for a near-instant blockchain application. After choosing a blockchain application and a white label provider, all you need to do is customize the software to suit the specification of your business.

Cryptocurrencies are ranked as one of the fastest-growing technologies, affecting almost every sector of the world economy and amassing an approximately $2 trillion market cap since Bitcoin first launched in 2008. However, while cryptocurrencies like Bitcoin and Ethereum have become remarkably popular, they cannot exist without the blockchain technology which they are built upon.

#What is a Blockchain?

A blockchain is a decentralized and distributed digital ledger consisting of records called blocks used to record transactions across many computers. 

Blockchains are decentralized so that any involved block cannot be altered retroactively without the alteration of all subsequent blocks. The decentralization of a blockchain also increases transparency and fairness, while saving businesses time and money.

Although cryptocurrencies are the most popular application of blockchain technology, the technology goes far beyond cryptocurrency and bitcoin. In addition to cryptocurrencies, there are NFT marketplaces, music royalties tracking, crypto exchanges, cross-border payments, voting mechanisms, that can all be built on a blockchain.

#What is a White Label Blockchain Solution?

The term 'white label' is used to describe customizable products and/or services developed by one company and sold to another, who then rebrands the product or service to make it appear as their own.

Thus, white label blockchain solutions are applications developed on a blockchain that are available for businesses to customize to suit their needs. Furthermore, these solutions are usually thoroughly tested and made available for instant deployment. 

#What Blockchain Applications Can You Get as White Labels?

The most popular application easily available as a white label blockchain solution are white label cryptocurrency exchanges. However, businesses can also purchase NFT marketplaces, payment protocols, and voting mechanisms as white label solutions.

#Why Do You Need a White Label Blockchain Solution?

Businesses globally are utilizing white label blockchain solution for the following benefits:

1. Fastest Way of Deploying a Migrating to a Blockchain

Businesses and governments around the world are speeding up the adoption of blockchain technology as it increases trust, security, transparency, and the traceability of data shared across a business network. However, it takes time to build a blockchain application.

White label blockchain solutions are the way to go for businesses looking for a near-instant blockchain application. After choosing a blockchain application and a white label provider, all you need to do is customize the software to suit the specification of your business. Therefore, building a blockchain application can be shortened from the months to years involved in building one from scratch to a few short days

1. No Technical Knowledge is Required

Building a blockchain application is often left to the tech experts with high programming knowledge, thus restricting the number of people willing to make the venture. However, this doesn't need to be the case with white label blockchain solutions. These software solutions have completed all the technical aspects required for their creation, making them simple to deploy.

1. Creates Room for Customization

A general rule in business states that no two companies are exactly alike; as such, they need tools tailored explicitly to their needs to give them a competitive advantage. Although white label blockchain solutions are pre-created, they offer businesses the ability to customize the software to suit their needs and reflect their brand.

1. Cost-Effective

One of the benefits of deploying a white label solution is that it saves time (which reduces development cost) and is significantly cheaper to acquire. For example, while a cryptocurrency exchange may cost up to $100,000 to build from scratch, a white label crypto exchange can be purchased for $10,000 to $30,000.

1. Reliability

White label blockchain solutions are always built with advanced components, which provide exceptional security features to prevent hacking. In addition, they often have in-built repair capabilities and patch updates that help solve glitches.

#In a Nutshell

As more businesses become aware of the benefits of operating on a blockchain, they see the need to adopt the technology. White label blockchain solutions ensure that the immense benefits of owning blockchain applications are not only enjoyed by buoyant companies that have the resources to build from scratch. Regardless of the type of business you run, you can take advantage of crypto and blockchain growth opportunities by deploying applications provided by a white label blockchain solution.