What’s the big promise of blockchain in business? Its ability to eliminate the middle man.
Blockchain is basically a ledger of people’s transactions. It is the underlying programming on top of which the cryptocurrency bitcoin was developed.
Blockchain doesn’t allow for people’s transactions to be hacked because everyone has access to a record of the values exchanged. Because of this, it is said to be unhackable.
Blockchain has many potential uses, such as in accounting systems. This is already the case in Dubai, where
Tony Saldanha is a Fortune 25 executive in the Global Business Services (GBS) and Information Technology area. During a 27-year career at Procter & Gamble, Saldanha ran IT and GBS in every region of the world, helping create a multi-billion dollar best-in-class operation. He currently provides advice to boards and CEOs in Fortune 500 companies on digital transformation, especially on internal business operations. He is the author of “Why Digital Transformations Fail: The Surprising Disciplines of How to Take Off and Stay Ahead”