When you embrace blockchain technology, you have taken the first step to owning the future. Blockchain technology presents the opportunity to truly change the way markets and companies are run because it will lead to greater transparency, build unshakable trust, help get rid of redundant processes, and improve the efficiency of otherwise inefficient systems.
Blockchain does not simply automate old processes; it improves the efficiency of business activities and helps to restructure traditional value chains.
Blockchain and Mainstream Business
2017 was the year of blockchain early adoption by mainstream businesses.
2018 to 2027 will be the decade when blockchain solutions revolutionize industries globally.
No industry will be left out of this unstoppable revolution.
Accenture research projects that by 2025, blockchain technology will be the basic technology powering the capital market and financial ecosystem. Starting from the financial industry to healthcare, retail, oil and gas, manufacturing, trade, agriculture to everything in between, blockchain has started redefining the ways businesses are run and leading us to the ‘Internet of Value.’
Blockchain technology will drive great, positive changes. Leaders from across every facet of life from a broad range of industries, governments, consortia, the academia and our key technology alliances to move the technology forward so that, ultimately, it can help to improve the way the world lives and works.
In every space, blockchain technology transforms of the ‘middle-men’ business model to a P2P or B2B business model with transparency and trust. It makes fraudulent transactions almost impossible and minimizes the value of credibility lent by trusted intermediaries.
Players in every industry need to re-evaluate their business models in view of the inevitable disruption due to blockchain technology will create in their value chain and position themselves to take advantage of it.
Tech experts posit that the healthcare industry has high hopes for blockchain technology because interoperability and the ability to securely share medical records with providers and patients has been the driving force behind most technology investments in healthcare.
Blockchain technology will form the foundation for securely recording and sharing medical records and this will solve many of healthcare’s present challenges of stores of data that lead to the delays and administrative burden of sharing health information.
All industries need to embrace blockchain technology and start using it as a basic foundation to delve into the convergence of various technological tools to meet customer-centered needs and social challenges which are excellent opportunities for business. Industries that capitalize on this will be rewarded with a rugged digital infrastructure capable of cultivating efficient ecosystems, superior products, and services at minimal costs at scale, and better results for all.