Not everything in blockchain is for startups.
It's definitely not only about operational improvements such as transparency, traceability, security and architectural clearness. Which are great, of course. But with Blockchain your business can think bigger and get into ventures that could not have been possible before.
What is blockchain, in a nutshell?
Blockchain is a novel way for business networks to build and materialize its relationships. In here, no single entity is owner of all the data. And, instead of every participant owning a separate database recording each interaction, every participant joins the decentralized network and enter in consensus about how to interact with the shared data. Actings as a trustable single source of truth.
It allows businesses to:
- Reduce costs and intermediaries.
- Increase security and transparency.
- Reduce time.
- Reduce risks.
Some industries still depend heavily on paper forms and manual processes. Digital and analog data silos prevent business networks to reach their full potential, increasing costs and times to complete their processes.
Blockchain can be applied to a wide range of industries, from manufacture to banking, and it's benefits can be easily identified.
What can you achieve?
There are clear benefits when you can securely connect business entities in realtime. That means, sharing digital data that used to be gathered in 1+ day processes, analog ways (paper forms), or even worst, in scenarios where data is never shared.