Expense Reduction Digital Solutions
You don’t necessarily need to understand the technology: but what should not be in any doubt, is that blockchain technology is coming. And it will change the way your suppliers, customers and competitors do business. Which means, in the next five years, it will change the way you do business too – whether you like it or not.
Better then, to judge from a position of knowledge.
As a business engaged in delivering efficiency for our clients; blockchain is an extremely interesting technology for us. Now and in the future, the core principles of blockchain– security, transparency, visibility and surety– will be key to delivering the most efficient solutions to our clients, regardless of who they are and what they want to achieve.
Blockchain will not solve all of the supply chain headaches, but there are several reasons why it has the potential to be a game-changer in terms of both time and cost, when implemented and scaled correctly.
Download our essential guide using the form on the right. You can also find quick reference material below.
“Welcome to the Blockchain Revolution” is our essential guide to blockchain, including all of the basics not to mention what the future holds for this technology. It provides real world examples of blockchain usage, the industries being disrupted and details of precisely how your organisation can make the most of blockchain.
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Is Blockchain right for your business?
Blockchain is an emerging technology that will change the future of industry colloboration forever, so it’s more important than ever to understand the value of the possibilities available.
This simple checklist will help you make a quick initial assessment of whether Blockchain is the right solution for the challenges in your organisation.
If four or more of these points are things you can relate with, then Blockchain could be the answer for your business, and we can help implement it.
Download our essential guide today! You can also access our quick reference information using the links to the left.
Blockchain is a distributed ledger technology that:
- Creates immutable transaction records
- Is fully transparant
- Accessible to the participants
- Has a very high security standard
The world was notified about blockchain in a 2008 White Paper written by Satoshi Nakomoto. It’s widely assumed to be an alias and the inventor of blockchain has never been traced. Whether Satoshi Nakamoto is a Japanese computer programmer, an American Silicon Valley coder, or a kid in his bedroom is not clear. What is clear is that there is nothing new in terms of the technology used.
The breakthrough came from the new process that solved the long-standing and extremely difficult computer science problem of ‘double spending.’
If you want to understand more about how the technology works, download our essential guide now. There’s also a diagram below that provides further clarity.
A New Kind of Trust
For hundreds of years, organisations have relied on trust – in one form or another – to do business with one another. Over time, the ways in which companies have demonstrated trust to each other has changed.
Online, trust has tended to centre around licences. You pay for any software or security system and you are granted a licence until such time as your payments cease, your subscription lapses, or both.
It is widely believed by experts that blockchain has the potential to be more influential and disruptive than the introduction of the internet itself.
If the internet changed the world inside ten years, in a world that wasn’t ready for it; how fast might blockchain do so, in a world now used to emerging technological change?
Why it works
Solving a difficult, long-standing computer science problem.
Blockchain works by using a combination of Public / Private ‘keys’ to validate and verify the security of a transaction or database entry. A public key (a long, random-looking string of numbers) is an address on the blockchain. Value tokens sent across the network are recorded as belonging to that address.
A private key is like a password that gives its owner access to their digital assets or the means to otherwise interact with the various capabilities that blockchains now support. Transactions stored on the blockchain are generally considered incorruptible: it’s only by knowing the address (the public) and having your unique key (the private) that users are able to access – for example – the bitcoins in their digital wallets.
Talking of Bitcoin, let’s not conflate the two here.
Blockchain is not Bitcoin and vice versa. It’s helpful perhaps to think of Bitcoin as a currency application that runs on the blockchain network. One is the operating system on which the other sits. It can be thought of in the same way that you have Spotify, Angry Birds or the BBC iPlayer app sitting on top of Apple’s iOS / Appstore or Android’s Play Store.
For a detailed explanation of why blockchain works, including specific details about Bitcoin and what it is, download the essential guide now.
What our experts can offer your organisation
Our approach to blockchain projects differs a little from our regular project process. In order to establish whether there is a case for blockchain, we need to map out your business and how it processes information, transactions and contracts.
Objectives for the Client
- An overview of blockchain / DLT technology
- An understanding of why it is important to know the capabilities
- An understanding of how to plan for blockchain for the future of their business
- An understanding of how, where and to what operational and financial benefit, blockchain can improve their supply chain operation
- If relevant, a tangible illustration of how the technology can be used to address one of their operational areas
Phase 1 – Business Analysis
Phase 2 – 2-day workshop
The outcome for the Client following the ERA workshop are:
- An understanding of blockchain as a potentially disruptive technology and where it is perceived to provide tangible operational benefit for the commercial enterprise.
- An analysis on where and how blockchain can be implemented to positively impact various areas of collabortion, including operational and financial impacts. (Where, how and to what effect investment in this technology will add value)
- An understanding of what it means in practical technology terms to implement blockchain.
- A working proof of concept application that will address a component of their operational model, for review, demonstration and illustration to other Customer stakeholders.
If blockchain could benefit your organisation, download our full guide to blockchain now which provides further information, depth and detail, including more ways for you to identify if blockchain can help your business.
Please enter your email address to download this file.