Growth and development remain the driving force for the global economy and the free market, with investment trends following the latest technological innovations that offer flexibility, efficiency, or economic incentive. Bitcoin and other cryptocurrencies were the first application of blockchain technology, but it has since spread to other industries, including e-commerce, health, travel, banking, among many others.
The experts have different opinions on when the crypto bubble will burst or whether it already has. However, it continues to gain the confidence of corporate users and investors as the next step in the evolution of financial ecosystems. Blockchain adoption is no longer a question of ‘if’ but ‘how?’
Through Forward Factory and its five core smart contracts, Forward Protocol answers the ‘how’ question with zero technicalities and minimal implementation criteria. This article explores how Forward Factory solves the blockchain adoption problem for businesses and private companies.
Forward Factory’s native blockchain — Forward Chain — is EVM-compatible. EVM compatibility means any businesses deploying Forward Protocol’s solution can easily communicate with others through EVM-compatible blockchains, e.g., KCC, BSC, Polygon, FTM, HECO, AVAX, among others.
Local businesses and smaller operations face the highest obstacles to blockchain adoption because of a lack of infrastructure and resources. International companies do not contend with the same issues as smaller operations. However, they face a unique set of problems to adopting blockchain technology. While some of these companies have the resources to create and deploy a native blockchain, Forward Protocol makes this commitment completely redundant. A new blockchain also means zero data continuity and transaction records from parallel blockchains.
Hence, it is a no-brainer to enter a functional and rewarding ecosystem than creating a competing system.
Multinational companies typically have multidisciplinary development and advisory teams spread across different countries. Forward Factory provides a cheap, efficient, and swift solution through products such as Forward Chain, Forward ID, and Forward Pay.
The products from Forward Factory allow businesses to securely send, process, and track payments worldwide to employees and business partners with minimal transaction fees and payment completion times. Forward ID makes these payments easier by reducing long-form and confusing addresses with a universal blockchain ID on Forward Pay. Forward Pay is a user-friendly digital wallet that facilitates seamless fund transfer in the supported cryptocurrencies.
Reputation and Credibility
Forward ID is a blockchain identification tracker that international corporations can use to verify the identity, credentials, and records of potential staff members, partners, businesses, and product and service providers. It eliminates the need for third-party solicitors and mediators, removing extra charges and delays in B2B and B2C interactions. Fundraising, investments, and scaling operations become more straightforward with the financial tools of Forward Protocol.
The Forward Chain makes it easy to monitor transactions and audit records. These accountability measures foster an open and transparent economy where businesses can scale their operations through local and global partnerships.
The Bottom Line
Businesses are about the profits above anything else, and that single important factor is the motivation behind their interest in blockchain adoption — the bottom line. Simultaneously, the primary deterrent to blockchain adoption among this class of users is the same thing — the bottom line.
For all the potential that blockchain technology offers, it would take a significant financial investment to build and deploy a scalable blockchain solution. Big corporations are cautious about making this commitment, while smaller businesses simply do not have the resources.
Cue Forward Protocol. Forward Protocol provides an easy-to-use, practical, drag and drop solution for the above mentioned problems. Companies and platforms that deploy the smart contracts and applications from Forward Factory enjoy all the classic benefits of blockchain adoption without the associated drawbacks.
Forward Factory Resolves Blockchain Technology for Businesses
Since it first appeared on the scene, blockchain technology has outperformed any other innovation in the same period. Its growth is primarily connected to its ability to improve on the failings of many traditional processes and systems. However, it has also proven to be imperfect and riddled with many limiting factors such as a high barrier to entry, technical requirements, high cost to implement, exorbitant gas fees, scalability issues, among others.
Forward Factory provides all the pros without the associated cons to make blockchain technology and Web3 adoption simple and almost irresistible for private companies, entrepreneurs, and other profit-oriented users.
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About Forward Protocol — Forward Protocol uses an easy-to-use WordPress-like model to facilitate a no-code environment that users can use to deploy their blockchain applications without technical knowledge. Forward Protocol has elements of NFT, DeFi, Gamification, AI, ML and Social Tokens inbuilt that connect the value-driven economy. Applications and smart contracts from Forward Protocol can be deployed on any EVM compatible chains in one click. Forward Protocol is cross-chain compatible, industry-agnostic, and adoption-focused, with an ultimate goal to fast-track mass adoption of Blockchain Technology.