Source: CIO Magazine On:
At the most basic level, Blockchain enables companies to securely share and reconcile transactional data on an immutable digital ledger. When implemented on a cross-organization permissioned network, blockchain fosters trust in multi-company cross-business transactions, by ensuring each and every transaction is validated using a consensus algorithm before a new block can be added to the blockchain. This process uniquely ensures transparency, as well as data verification and security.
Blockchain as the Foundation for a Modernization Strategy
Yet according to HFS Research, 60 percent of enterprises are still unclear on what blockchain is and how to deploy it and 70% require the help of a third party to create their blockchain solution – with 78% saying blockchain will drive a competitive advantage because when done properly it delivers real business impact and value.