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Analyzing the Blockchain Advantage by Michael Singer

Juergen Kress
PaaS & Middleware Partner Adoption

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Blockchain is making an impact everywhere around us. From its origins as a cryptography method debuting ten years ago, the practice of securing data blocks in a chain led the way to developing digital currencies, authenticating crowdfunding, and verifying company governance documents, among other uses.

You don't have to look far to see how companies are investing and growing their business with the help of blockchain technology. California recently passed legislation to encompass blockchain technology for electronic signatures and smart contracts. Walmart is using blockchain to track groceries along its supply chain. The related market is forecast to gain revenue worth $20 billion by 2024, up from the $315 million in revenue companies realized in 2015, according to estimates with Transparency Market Research.

But as in all things data, analyzing the information helps keep companies competitive. There's a lot of hype around blockchain thanks to Bitcoin and other cryptocurrencies. However, we know the technology has practical uses in business and is even more valuable when using cloud-based analytics to derive insights. Read the complete article here.

 

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