While people debate the benefits and pitfalls of cryptocurrency, the blockchain technology that underlies these currencies is taking the main stage. That’s understandable, as blockchain is a must-have in and of itself for creating competitive advantage.
Related: 5 Ways Blockchain Technology Will Change the Way We Do Business For some companies, blockchain-based security applications are enticing; others are simply excited about blockchain’s potential for helping them create transparent marketplaces for their customers. Whatever the motive, the immutable and transparent nature of the blockchain is what has so many people racing to incorporate it into their IT strategies.
Joe Lubin, co-founder of Ethereum, interviewed by Newsweek explained why more and more companies are taking note: “There won’t ever be a single powerful entity that controls the system or controls gatekeeping into the system the way blockchain does,” Lubin said. As a decentralized platform for innovation, blockchain technology, over time, will revolutionize virtually every industry. First movers will have the distinct advantage of figuring out how blockchain can get their business to the next level.
They’ll also figure out earlier than their competition does the challenges that come with any new IT integration. Following are examples of industries that are already adopting blockchain solutions with a great degree of success.
The challenges associated with fund administration are extensive. Currently, most companies rely on outdated software or ungainly paper processes. Read more from entrepreneur.com…
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