Heading Towards Blockchain Technology

You pay a very high price in the stock market for a cheery consensus – Warren Buffett
This definitely rings a bell to the CxOs who have to pay hefty fees to various type of law firms, the independent third parties or financial institutes, each of which specializes in being a trustee of various kinds of tasks such as validating the transactions, keep records, managing assets or dispute resolution. The two big costs – the cost of the transaction and that of verification also cost an organization a lot of time and reduces the overall efficiency of the business processes.
With the advent of Blockchain technology, it is quite clear that the business models will change in radical ways. We are at the tipping point for Blockchain business operations. Many organizations are reimagining their business models, with distributed ledger technology at the centre of their strategy.
What started as a pure peer-to-peer electronic cash (Bitcoin) is getting developed into one of today’s revolutionary technology. Blockchain technology enables trust, provides tamper-proof network and removes the dependency on the middleman. Conceptually, Blockchain is a distributed ledger technology and provides a better way to record data in near real time without anyone controlling the processes at any stage of the transaction flow. This report will help readers navigate the various business aspects (given below) that are shaping the Blockchain technology age.

 

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