Tag: blockchain

Throughout time, the single greatest creator of wealth in human history has been global trade, and market friction has been the greatest inhibitor to create wealth. Over the years, as businesses and processes have evolved and become more automated, the industry has overcome many different sources of friction.

The emergence of tools, institutions and rules of trust have mitigated potential business transactions risks, as well as technology innovations helped companies to eliminate their inefficiencies, although many business transactions remain inefficient, expensive and vulnerable until today. That’s where Blockchain comes to the life. This innovative technology, which creates a permanent, safe and transparent record of transactions, brings an incredible potential to obviate intractable inhibitors across many, if not all, industries.

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Blockchain sounds like a way to keep boats anchored, which isn’t a bad analogy, considering what the technology purports to do.

While some IT experts herald it as a groundbreaking way of creating a distributed, unchangeable record of transactions, others question the nascent technology’s usefulness in the enterprise, which has traditionally relied on centrally-administered databases to secure digital records.

Even so, companies are moving fast to try and figure out how they can use it to save time and money. And IT vendors are responding to customers calls for info, with some already looking to include it as part of their services.

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