Here’s how companies can make sure they are blockchain-ready

[Brianna White]

• In recent years, many of the world’s biggest enterprises in the finance sector and beyond have adopted blockchain technology.
• Companies that are not integrating blockchains into their processes are at risk of being left behind.
• “Middleware”, such as oracle networks, can help enterprises to interact with blockchains and engage with the world of decentralized finance.

Blockchains, once considered a nascent, frontier technology, have become increasingly critical infrastructure for enterprises that want to keep pace with the future of information and value transfer. A blockchain is a shared digital ledger of transactions that is duplicated and distributed across a network of computer systems. The ledger is nearly impossible to cheat or hack, because it is verified by multiple participants across the globe and underpinned by cutting-edge cryptography. A blockchain network can be used to execute smart contracts, transfer value, track orders, settle payments, verify accounts and more.
To facilitate transactions, a set of rules — called a smart contract — is stored on the blockchain and executed automatically when a certain condition has been met. For example, a smart contract could include a business payment between enterprises that automatically executes when certain conditions of a deal are achieved.
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