The blockchain is a fresh form of digital technology that generally prevails independently of government authorities or private institutions. There is absolutely no central server, no administrator, no national boundary, no owner, and it is at the forefront of conversations about the future of democracy, money, legislation, personal information, health, security, insurance, and more.
What is the transaction that occurs at a specific point in time? On the occurrence of the transaction, how much of a particular item changes hand?
Anything from the management of the procurement and distribution of power generation on a local micro-grid to maintaining real-time inventories in a multinational organization is facilitated by blockchain
TRACEABILITY
TRACEABILITY
A fundamental attribute of blockchain is the instantaneous recording of a transaction that is then immutable and tamper proof.Fraud costs organizations billions of dollars on an annual basis and requires unnecessary redundancies to be put in place as a preventative measure. Blockchain applications can now insure that no fraudulent or inaccurate invoice is ever again paid.
FRAUD PREVENTION
FRAUD PREVENTION
Are you getting the real McCoy? Companies that rely on the authenticity of raw materials used in the manufacturing process to organizations that are dependent on the veracity as to source, such as organic or fair trade food brands/retailers can now rest assured as to authenticity.
PROVENANCE
PROVENANCE
Time is money. The facilitation of faster decision making will ensure that a latency will not trigger an operational or a financial cost. Elimination of intermediaries with the incorporation of smart contracts will go a long way in saving time and money.
CUT COSTS
CUT COSTS
Large organizations that have innumerable employees, as well as, the plethora of intermediaries provide function that can now be reassigned to more productive activities. Blockchain with the application of smart contracts can help eliminate redundancies, resulting in a significant cost savings and quicker transactions.
LOWER YOUR PAYROLL
LOWER YOUR PAYROLL
Instant, accurate recording of transactions, that is permanent and immutable that is then communicated immediately can only assure that transactions can be made faster whether it is in relation to an important strategic decision or simply ordering items to replenish raw material inventories.
ACCELERATE PROCESSES​
ACCELERATE PROCESSES​
The fear of organizations in which safety is an operational necessity, from airplane manufacturers to pharmaceutical companies to food producers, where any defect or oversight can put human life at peril can now address this risk. Blockchain can help in mitigating against defects and oversights, and where one is found help to expedite the process of taking remedial action.
SECURITY AND RELIABILITY
SECURITY AND RELIABILITY
The importance of transparency in any and all transactions is in many respects the Holy Grail. Lack of transparency results in ambiguity, guess work, and mistakes that cost organizations time and money.
TRANSPARENCY
