Blockchain Is Set to Streamline Markets and Transform Industries

Business is built on trust. The seller needs to trust the buyer to pay for goods. The buyer needs to trust that the seller will deliver those goods, and that they have the right to sell them to begin with. Financial institutions must trust one another to settle transactions. Other examples abound. To create an environment of trust and accountability among organizations around the world, a vast network of intermediaries has sprung up. Navigating that trust network for each transaction takes time, costs money and can still leave some uncertainty of the other party.

What if a better solution that was comprehensive, transparent, immutable and available to all existed? Some believe it already exists, and its name is blockchain. “It can enable individuals or businesses to move, store and manage anything of value (e.g., money, financial assets, titles and deeds, properties, votes in an election), and they can do it peer to peer, securely and privately,” says Alex Tapscott, CEO and founder of Northwest Passage Ventures, and co-author of “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.”

Read the rest at:

http://www.ibmsystemsmag.com/mainframe/Business-Strategy/Business-Applications/business-of-blockchain/

 

Regards, Len

 

Leonard J. Santalucia

CTO | Business Development Manager | Certified Specialist

Vicom Infinity, Inc.

IBM Premier Business Partner

One Penn Plaza – Suite 2010

New York, New York 10119

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