Blockchain

Decentralized trust across multiple individuals or groups, a need that is more and more important in a globalized world where people and businesses create and continue expanding relationships beyond existing boundaries.

Blockchain technology is important because it is designed to preserve truth transparently and efficiently for multiple interested parties, where they do not need to trust each other to achieve it.

A Technology with Limitless Potential

Adoption of Blockchain is still slow in many industries, but no one can deny the potential it has to revolutionize the way we do business, and to even help society with some of its biggest challenges that involve trust and large groups of people.

Blockchain and its distributed ledger architecture was popularized by cryptocurrencies like Bitcoin and Ethereum where no party “owns” or controls the network, but the principle of building trust powered by cryptography has led to similar architectures like central ledger databases, where sharing a central source of trust might suffice for a group of B2B interested parties.

Applications of Blockchain have been explored and implemented in industries such as supply chain and logistics, healthcare, retail and e-commerce, real estate, among others, so it is probably a matter of time before its use becomes more widespread and its impact more evident.

“Real-world” Blockchain

Blockchain has historically been hard to implement, given in some cases it required distributed hardware and software upkept by multiple parties to function, but cloud services like Amazon Managed Blockchain have greatly reduced or eliminated the burden and overhead.

Examples of real-world business implementations of Blockchain:

Track-and-trace

The ability to identify the past and present locations of all product inventory, as well as a history of product custody.

System-of-record

Auditing capability to keep track of critical data, such as credit and debit transactions across bank accounts, internal compliance, and regulatory data (e.g., GDPR), or complete history of assets such as vehicle maintenance or drug manufacturing records.

Whatever your business-case or need is, our team of experienced Blockchain architects and developers can provide advice and targeted execution.

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