Blockchain technology is making its mark all over the world with its wide recognition and acceptance. In a recent update, UK-incorporated MNC Deloitte supported the fact with their survey presented at its New York Consensus 2018 Annual Conference. Being one of the big four companies it is believed that this update is going to give a major buzz in the demand of blockchain.
According to Irish Tech news, it is stated that around 74% of the multinational across 7 countries are looking forward to implementing blockchain. Companies are going to use it with the practical application which is definitely going to enhance its expansion. Deloitte has been a keen supporter of the blockchain technology right from its inception.
In the words of Linda Pawczuk, principal at Deloitte Consulting LLP, “In financial services, the genie is out of the bottle: Blockchain and other distributed ledger technologies have inspired the industry to re-examine processes and functions that have been static for decades.”
One of the interesting facts about this breakthrough technology is that it gets embedded in almost all sectors. However, there are a few which are likely to get additional profit from blockchain technology. Domains like, core banking, information technology, finance and gaming will have a major impact of this expertise. In fact, there is less of manual requirement, more accuracy of the system and trouble-free monetization.
How Blockchian will revolutionize businesses?
Blockchain technology is looked upon far beyond cryptocurrency domain. There is a huge potential lying the research and development which will bring on abundant business prospects. In addition to this, it has a direct application on the operating models of the businesses. Therefore, this is clearly a disruptive innovation as it can directly implement low cost solutions sans interrupting active production models.
The core idea of this application is to reduce human participation and strongly focus on the financial applications. Also, the companies are slowly switching to this latest techno friendly system.
[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]