When Your Business Needs a Blockchain Solution
Blockchain technology has become an essential part of the enterprise software stack for organizations that want to streamline business processes and issue digital assets. Not all organizations need a blockchain solution, but for those that do, the technology can be transformational. Blockchains helps businesses solve for three main scenarios:
1. You need to process data efficiently.
A blockchain platform serves as a digital layer for the processing and coordination of information. The distributed architecture and consensus mechanisms of blockchain networks facilitate more efficient data coordination than paper-based and centralized systems. While blockchain technology does offer advanced data coordination, many legacy systems can be optimized through improved distributed systems design. Blockchain platforms are designed for completely new business functionalities that go far beyond information processing.
2. You need trusted transactions and secure business networks.
Blockchain technology was originally developed to digitize trust and agreements, just as Internet technologies have digitized information and its exchange. The unique design of a blockchain ensures an immutable record of transactions that all network participants can trust. Moreover, programmable smart contracts enable the automation of business logic, simplifying alignment and reconciliation across complex business networks. An increasing number of Global 2000 companies in major industries such as financial services and global trade are already using blockchain-based platforms to launch enterprise consortia.
3. You need to create, issue, and manage digital assets.
The digitization of goods and assets has emerged as one of the most exciting business applications of blockchain technology. The built-in tokenization capabilities of blockchain networks like Ethereum enable enterprises to create, issue, and manage digital assets for use cases as wide-ranging as central bank digital currency and fractionalized real estate ownership. In recent years, a variety of open source and proprietary blockchain and distributed ledger technologies have been developed for digital asset solutions.