A “trustless” network. Many people perceive blockchain as this. However, it doesn’t assume that involved business parties don’t trust each other. They don’t have to mainly because of enhanced security and traceability.
This is probably one of the reasons why companies’ investment in it is increasing rapidly. According to Statista, by 2024, the global expense on blockchain-enabled solutions will multiply by three times and comprise $19 billion compared to 2021.
By addressing two strategic business needs ― performing transactions and record-keeping ― this distributed ledger technology provides secure data encryption and high fraud protection.
With all that said, why are companies still cautious about implementing blockchain? Mostly, it’s all about the related challenges I’ll cover in the article.
Top Five Pros Of Blockchain
Whatever the industry, organizations can benefit from the technology by reducing paperwork, minimizing overhead, streamlining processes and eliminating the need for third-party facilitators. By realizing its full potential, businesses increase operational efficiency due to:
Continue reading:
https://www.forbes.com/sites/forbestechcouncil/2021/11/22/introducing-blockchain-six-limitations-for-enterprises-to-remember/?sh=25de45a6313f
This is probably one of the reasons why companies’ investment in it is increasing rapidly. According to Statista, by 2024, the global expense on blockchain-enabled solutions will multiply by three times and comprise $19 billion compared to 2021.
By addressing two strategic business needs ― performing transactions and record-keeping ― this distributed ledger technology provides secure data encryption and high fraud protection.
With all that said, why are companies still cautious about implementing blockchain? Mostly, it’s all about the related challenges I’ll cover in the article.
Top Five Pros Of Blockchain
Whatever the industry, organizations can benefit from the technology by reducing paperwork, minimizing overhead, streamlining processes and eliminating the need for third-party facilitators. By realizing its full potential, businesses increase operational efficiency due to:
Continue reading:
https://www.forbes.com/sites/forbestechcouncil/2021/11/22/introducing-blockchain-six-limitations-for-enterprises-to-remember/?sh=25de45a6313f
