Blockchain creates trust and transparency regarding data and can be used in an array of compelling applications. Tekdynamics experts help organizations identify—and seize—the potential. Blockchain is a potent and versatile emerging technology that is only starting to live up to its billing. Best known for its use in cryptocurrency, blockchain—a distributed database that fosters trust and lowers transaction costs—has the potential to change how organizations operate.
Already, the technology is used in a variety of business- and public-sector applications, such as tracking and tracing items in supply chains, automating customs clearances, and facilitating financial transactions. And many more applications await development. The challenge for organizations is threefold: understanding the technology, determining how blockchain can be molded to create value, and developing an approach that captures value early on, to fund the journey.