Why blockchain in business operations?
Blockchain technology fundamentally changes how data is managed, so companies can move from a scenario where every organization maintains its own copy of a data set to one where all parties have controlled access to a shared copy.
With blockchain, traditional independent players can work together to streamline and integrate processes, all with controlled, secure access to sensitive data.
Business leaders are still trying to figure out how to put the technology to work. Yet most agree: Blockchain can unlock the vast value trapped in their business operations.
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We see blockchain remaking business operations in three primary ways:
Blockchain´s impact on business operations
Blockchain offers the chance to truly rewrite the way companies operate by delivering greater data transparency, removing redundant processes, and revamping inefficient capabilities. Beyond simply automating old processes, blockchain eliminates steps and activities amongst businesses and facilitates the restructuring of traditional value chains.
Combining blockchain with cutting-edge technologies such as robotic process automation, analytics, machine learning, cognitive capabilities and applied intelligence can generate even greater efficiencies, automating tasks and helping human workers with complex decision making and creative problem solving.
Three key functions primed for change
How to get started
Blockchain is very much real and the potential benefits are substantial. Business leaders must start planning and mobilizing now to determine how to best use this transformative technology to unleash trapped value in key operational processes. Blockchain, should be part of every company’s agenda, regardless of its industry or where it sits in the value chain.