This Gartner Trend Insight report guides executives on what to look for when considering the impact of blockchain on their business.
It’s the buzzword of the year: blockchain. And it’s evolving, from its digital currency infrastructure roots into a platform for digital transformation across a broad range of industries.
The blockchain revolution began with cryptocurrencies like Bitcoin, which uses blockchain’s distributed ledger technology to foster trust in a currency and transaction mechanism not backed by any central bank, government, or traditional institution.
Blockchain and the Middleman
But any industry with a transactional need that’s subject to an opaque middleman with a questionable value-add for their fee structure may be potentially disrupted by blockchain technology.
Visionary entrepreneurs and CIOs building and expanding digital businesses are keeping the flow of transformation going. Their goal is to reinvent the nature of commercial activity by removing intermediaries and enabling more-fluid business processes to be conducted in diverse ecosystems.
This Gartner report aids executives to understand its use, and whether the hype is true about how it can help with transaction costs, integration, technology readiness, business-model creation, and efficiency.