Transform the way you do business with the power of blockchain.

Although it may seem like a complex idea to wrap your head around, embracing the benefits that blockchain has to offer is actually simplifying the way we work.

While Bitcoin is the most recognisable proof of use case for blockchain technology, new and innovative ideas for its application propose to disrupt virtually every industry and the way we think about business. The functions blockchain allows have already become a driving force for ground-breaking business models within industries that are traditionally subject to highly-regulated governance.

In the contemporary world of e-commerce, a multitude of transactions are taking place every second, from order and payment processing to account tracking. Each stakeholder often has their own ledger and, thus, their own version of the truth. The reality for discrepancies to exist between these different ledgers has become a recipe for error, fraud, and inefficiency to occur.

Blockchain framework offers an ingenious solution to this problem. It makes use of a shared, immutable ledger for recording the history of transactions—one that cannot be altered. This is fostering a new generation of transactional applications where trust, accountability, and transparency to reign supreme when it comes to how we carry out previously manual tasks such as contracts, deeds, and payments.

The truth, the whole truth, and nothing but the truth

A shared approach to authenticity

The shared ledger, which is distributed to all parties within the blockchain network, creates a single point of collective reference and ensures that no one person or organisation holds ownership of the system. All transactions are verified, cleared, and stored in a block that is linked to the preceding block, creating a historical chain of everything that’s been completed. Each block must refer to the previous block in order to be valid. This structure records a permanent time-stamp for each exchange of value, preventing anyone from altering the ledger and changing the “truth”.

A shared approach to authenticity

As a product makes its way through the supply chain, everyone involved in the process has access to its data. No transaction can be added to the chain without first obtaining permission from the other participants, meaning all validating parties must reach consensus before a new transaction is added to the network. As each transaction is confirmed within the network using independently verified complex cryptography, the information’s authenticity can be assured. This, in turn, renders third party intermediary monitoring and verification obsolete.

Move over, middle man. We’ve got it from here.

How your company can leverage blockchain to disrupt these six major business sectors: