By Straight Talk
This article is by Featured Blogger Jason Bloomberg from his blog Intellyx. Republished with the author’s permission.
When you cut through all the noise, hype, and confusion around blockchain and zero in on the areas where this innovative technology promises to provide real business value, only a few areas come to light.
The first, most promising area for blockchain is in complex, multiparty supply chains. Blockchain is potentially well-suited to keep track of the current state of any business interaction (say, negotiating a contract) across multiple parties and geographies, while providing an immutable audit trail for all concerned parties.
Another potentially lucrative use case for blockchain: provenance. If you need to know where something came from as well as how it got where it is, blockchain could be quite useful for keeping track of the data associated with whatever you’re trying to keep track of. It’s no wonder, therefore, that blockchain has found its way into various anti-counterfeiting business models.
Read the entire article at https://straighttalk.hcltech.com/two-knotty-problems-that-blockchain-promises-to-solve
