Posted by Marketing on Wed, 30/01/2019 - 10:32
Blockchain is a solution that enables different entities to reach an agreement on the authenticity of a transaction in a decentralised manner.
As businesses progressively become more complex, data and transactions are increasingly managed across untrusted parties. Blockchain technology can help with both trust and simplification of operations for enterprises though a more transparent and secure approach to transactional relationships.
How does it work
Blockchain technology works by enabling a shared set of computing systems owned by different parties to collectively reach an agreement on the authenticity of a transaction between parties. These outcomes are then permanently recorded across a shared database structure known as a blockchain which is cryptographically secured.
why would I need it?
Transparency - Counterfeiting is estimated to cost U.S.-based semiconductor companies more than $7.5B per year
Complexity - Suppliers in emerging markets today pay interest on receivable financing as high as 30%
Security - 20B IoT devices will be online by 2020, representing a significant number of attack platforms