What Is Enterprise Blockchain? A Hoax Or A Key For Future Growth?

What is enterprise blockchain?

What is enterprise blockchain?

Enterprise blockchain, according to some, is just a hoax. Is that true?

Existing solutions for enterprise blockchain. In which industry it will work?

  • Blockchain loyalty program in Marketing and Retail: Low customer retention and redemption rate could be the consequence of bulky rewards loyalty programs, where customers are hard to control multi types of points and find the proper rewards. By connecting different loyalty programs, blockchain loyalty programs allow companies to provide customers with more flexibility to choose and decide the way to use their points. Enhancing the loyalty program with blockchain is a good way to cut off costs, increase security to raise customer loyalty and repeat interactions, and open to new business opportunities.
  • Finance and Banking: “Blockchain is a game-changer in the industry and no financial services firm can afford to ignore it.” said Anirban Bose, Global Head of Banking and Financial Services. Using blockchain allows banks to process payments more quickly and more accurately while reducing transaction processing costs and the requirement for exceptions. Automatic transactions are not only faster but also less prone to manual errors.
  • Supply chain management: The trust in supply-chain management systems when using blockchain is forced by computer code rather than paper law. The point is blockchain does not force but encourages people to be truthful due to immutability. People can sophisticated input data, there is no way back. Once the violation is detected, they can not change the information, they will lose everything: their reputation, trust, their business, and face the punishment. Blockchain also reduces tons of paperwork in supply-chain management systems, reduces cost, and accelerates the process.
  • Insurance: With blockchain, fraud and abuse are no longer the big troubles to insurers due to the automatic process of smart-contract. Besides, data is structured more efficiently to estimate insurance products and services, then insurers can consider providing more appropriate to customers.
  • Human resources: This technology gives managers a chance to seek for more potential candidates with a clearer working history with less time and effort. Besides, it also can be used as a way to reward company staff by combining it with the loyalty program.

Forecast for the future scenario of enterprise blockchain

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The Permissioned Business Blockchain for Enterprises

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The Permissioned Business Blockchain for Enterprises

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