Why Enterprise Blockchain and DLT?
It’s a means to an end, not the end itself. More secure and faster business relationships are the end.
So much more than cryptocurrencies
The long-awaited transformation for enterprise data infrastructures
Isolated data sources are the status quo in every industry. Frictions and reconciliations are required along third-party certifiers.
Distributed Ledgers are powering the new generation of connected industries transforming not only how data is stored but also how business rules are enforced.
Powering the future
The only way to a brighter future is through digitalization and automation. Technologies such as Robotic Process Automation, Machine Learning, and Internet of Things are spreading across industries away from the hype from previous years.
Have you ever thought about how will these technologies handle cross-company communication at scale? There is no way that we can reach a real Digital Transformation without the right data layer.
The time is now
So many industries, the same needs
Every modern industry shares data between value chains and even competitors. Instead of depending on third parties industries can be built and scaled on uncheatable computing code.
Single shared source of truth
A single source of verifiable shared data not only works great for analytics and decision making but also to proactively enforce business agreements and data constraints.
Enforceable data control
Depending on each party complying with data manipulation rules and data integrity is not only risky but inefficient.
Privacy by default
As cryptography is the basis of the technology, access can be given just to the parties that need it.
What can you achieved - and how?
To operate, companies typically depend on data from other parties in the value chain. Their decision making, and even compliance in some cases, depend on the veracity and velocity of that data.
Let's think of that coffee that you drank in the morning ☕️.
Imagine that all that data needed to get the coffee to your hands was shared in a single repository – stored as soon as it’s generated and digitally signed by each party.
That would remove the need for conciliation and settlement while you can learn the whole story of the coffee.
You would know exactly where it was generated, doubts about its origin would be wiped out and regulators could trace it back to all the parties involved 🗺.
That would be useful for sure. But the value of a single source of data actually lays in enforcing data constraints and business rules. Like automating payments, approvals, and dispatches.
We could trust robots to make tasks that are now only possible through humans decisions.
That coffee could have been transported almost autonomously and at the end you wouldn't need to trust the origin somebody tells you it has. 🤖
That same logic applies for other industries from derivatives and repurchase agreements in the financial industry to electronic medical record and insurance claims in the healthcare industry.
The best way to detect a use case for Blockchain is by simply looking at the status quo
Blockchain is not just a slow database, in fact, it's not even a database
You may have heard that a Blockchain is slower than traditional databases, that is because a Blockchain network is not a database.
It doesn’t aim to replace a database, it aims to replace long multi-party multi-datasource processes where finality takes days or even weeks. That’s where the full power of the technology can be translated to business drivers.