Published On Jan 11, 2020
Blockchain technology has proven to be very valuable in supply chain, finance, and many other business applications and the outlook is greatly expanding use of this technology. Blockchain has the unique capability to allow much easier and better integration of business partner information than traditional IT. Smart contracts executed by the blockchain enable big savings in administrative costs and reductions in errors and delays. The IBM-Maersk ocean shipping blockchain claims reduced errors, faster sharing of information, and a 40% reduction in costs. Hundreds of startups are launching blockchain applications that will improve business processes and, in some cases, knock industry leaders out of business.
It is very difficult to assess blockchain application fit with an organization and realistically estimate the ROI. This briefing covers Blockchain Business Consultant’s approach to assess the likely acceptance, results, and ROI of blockchain applications for an organization.
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