Tag: blockchain

Chinese President Xi Jinping stressed the role of the cyber technology in quickening economic development and innovation. He said it’s essential to promote related research and core technologies to give China an edge in the sector. Xi believes blockchain can play a key part in the real economy, as it helps address financing difficulties and financial risks.

ZDNet’s Daphne Leprince-Ringuet says that after much hype, analysts say that blockchain technology is still a long way from wide scale deployment – and is currently too immature to deliver on its promises.

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 its used for the city’s stock exchange, and in the Baltic states, such as Latvia and Lithuania, for their political processes.

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”