Why you should get enthusiastic about Blockchain?

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Blockchain is an interesting phenomenon. It’s a completely new architecture for business and a foundation for building a new generation of transactional applications that establish trust and transparency while streamlining business processes. It has the potential to significantly reduce costs and complexity of your IT investments.

What exactly is blockchain?

It’s a distributed ledger shared via a peer-to-peer network that maintains an ever-expanding list of data records. Each participant has a copy of the ledger’s data. Thus, all participants in an interaction have an up-to-date ledger that reflects the most recent transactions or changes. In this way, Blockchain reduces the need for establishing trust using traditional methods.

Blockchain can reimagine the world’s most fundamental business interactions and open the door to invent new styles of digital interactions.

Blockchain can help radically improve industries, most promising are banking and insurance. However the opportunities for blockchain go far beyond this. IBM predicts that this technology will be used to create smarter, more efficient systems for supply chains, Internet of Things networks, gaming, multi-media rights management, public services, etc.

 IBM Blockchain services will help developers create and manage a blockchain network that can be used to manage transactions. Developers can create private and secure digital assets in test applications that can be traded quickly and securely over permissioned networks. Spin up a test blockchain network in one click and spend less time worrying about creating and managing a blockchain network and more time focusing on creating your applications.

Find out more information about IBM Blockchain for your business here or contact your IBM rep!