Blockchain is a shared, immutable ledger that lets a user record the history of transactions. Through establishing trust, accountability and transparency, blockchain can transform the way we carry out transactions and can be adapted to virtually any industry. Blockchain is a network not a database and is inherently secure. A single version of the data is easily shared with network members and streamlines supply chains, payments and Identity management.
Use cases:
When it comes to identity management with sensitive government-issued documents like IDs and licenses, each document must have enough traceable information linked to it so that it can be verified. With blockchain-enabled technology, government agencies can spend less time adjusting inconsistent files. By shortening document authentication processes, it’ll also create a better experience for everyone.
Growers, distributors and retailers can enhance food trust in traceability, visibility and accountability from farm to fork. The network allows workers from every stage in the food supply chain to quickly respond to recalls, publish tracking data and share inspection certifications, creating a secure network of food influencers and innovators.
Global payment settlements that once took days can now be cleared and settled in seconds with new advancements in blockchain universal payment processing. Solutions work with normal payment systems to increase transparency in an affordable way. By streamlining the payment process, lowering costs and increasing efficiency, blockchain is changing the financial services landscape in real time.
Security, speed and efficiency are critical in the world of logistics. A blockchain network can help a supply chain reduce fraud, delays and courier costs. This makes it easier to identify problems, manage inventory and establish consumer and partner trust. In addition, networks can be implemented at scale to improve businesses and trade relationships worldwide.
Even though blockchain is still relatively new, it has already left a mark on almost every aspect of our lives, revolutionizing some of the most basic industries we do business with each day. In light of these milestones, there is no telling how large it will grow, who will adopt it and what industry it will touch next. What is certain is that blockchain is developing the next generation of transaction systems. There’s no better time to learn how blockchain can work for you.
Vicom Infinity is certified and skilled in Blockchain, especially within the IBM Z enviornment. We have installed and supported it in organizations, both large and small, and across various industries. We look forward to working with you.
