The blockchain is an undeniably revolutionary invention. Technology itself and the various platforms around it is evolving at a breath-taking pace. The mechanism brings the highest degree of accountability to everyone involved.
We at Spiderlogic (A Wipfli LLP Company) are working on some of the coolest applications involving blockchain. Some of the areas in which we are working on are Contract Management, Supply Chain, Asset Management, etc.
While interacting with various clients, main question now every enterprise is asking how they can leverage the potential of Blockchain.
First question is, “Is my application Blockchain eligible?”
(Image Credit: coindesk)
Here are some of the questions, which will help enterprise analyse the eligibility.
- Do we need to track transactions that involve more than two parties?
- Is the current system overly complex or costly, possibly due to the need for intermediaries or a central point of control?
- Does my business network need to manage contractual relationships?
- Can the network benefit from increased trust, transparency, and accountability in recordkeeping?
- Is the current system prone to errors due to manual processes or duplication of effort?
- Is the current transaction system vulnerable to fraud, cyber-attack, and human error?
If answer is “yes” to any questions, integrating Blockchain with your application will result in elevated level of trust.
We would be happy to discuss how your company can leverage and be part of the Blockchain revolution.