Finance trends are always making the media rounds, which of late lies in cryptocurrency. With uncertainty in the financial markets, the latest news has been around topics including blockchain and bitcoin, discussed among experts for its benefits of decentralization, security, and transparency.
Blockchain is a shared, immutable ledger for recording the history of transactions in a decentralized manner to reduce potential security threats. Furthermore, blockchain also automates key business processes in a secure manner.
According to a recent IBM study, nearly a third of C-level executives are using or considering blockchain technology in their organizations to develop new business models or respond to changing financial tastes. Though blockchain has seen a lot of interest in the financial sector, interest is growing in the manufacturing and retail sectors too.
Blockchain Integration
Building blockchain into a system is complicated. In response to such needs, organizations will instead seek to integrate blockchain into their systems, focusing on governance and application compatibility. Blockchain systems also lack a central database, so integration will ensure that technical and business information will translate quickly and accurately. A need to visualize these events will also bring the Internet of Things (IoT) into the fold.
PaaS platforms including IBM Bluemix help enable the integration of blockchain into a variety of services. With recently added security, add-ins, and support, developers and organizations alike can develop new financial experiences with peace of mind.
Where does your organization stand with blockchain? Let us know in the comments section below.
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