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CIO Applications Weekly Brief

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Editor's Pick (1 - 4 of 8)
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A Closer Look at Block Chain Technology

A Closer Look at Block Chain Technology
John Shea, CIO, Eaton Vance

Don't Start With Blockchain

Don't Start With Blockchain
Eric Redmond, Director of Global Technology Innovation, Nike [NYSE: NKE]

Blockchain: the path forward

Blockchain: the path forward
Kyle Culver, Director, Emerging Technologies, Humana [Nyse: Hum]

Blockchain to Revolutionize the Financial Industry

Blockchain to Revolutionize the Financial Industry
Safwan Zaheer, Director, Financial Services Digital & Head of FinTech, KPMG US

Riding the Blockchain Wave: Challenges and Opportunities

Riding the Blockchain Wave: Challenges and Opportunities
Eric Piscini, Principal Global Blockchain Leader, Deloitte

Blockchain Community Leader, I am part of the Innovation & Digital Transformation team that runs innovation initiative for CACIB

Blockchain Community Leader, I am part of the Innovation & Digital...
Xavier Laurent, Blockchain Community Leader for Credit Agricole CIB

Blockchain: The Paradox

Blockchain: The Paradox
Sean Khozin, MD, MPH, Associate Director, FDA

Blockchain, the real benefit behind the technology

Blockchain, the real benefit behind the technology
Rebecca Hofmann, Manager of Innovation, Equinor Chairman, OOC Blockchain Consortium

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Advantages of Blockchain Technology for Industries

By CIO Applications| Tuesday, March 05, 2019
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blockchainThe blockchain technology has always been in the news since its introduction and almost every day a new use case is being discovered about the potential use of blockchain technology. The technology is proving to be a vital asset for many companies as it provides excellent data security and privacy. The data in a blockchain network is stored using cryptographic hashing, making every entry uniquely identifiable. Access to the data is provided using a unique and highly secure key. Here are a few ways in which blockchain technology can help industries:

Revolutionizing the supply chain: The online shopping trend is on an upward trend, and it has effectively replaced the traditional methods of shopping. The change in buying behaviors of customers requires the producers to change the supply chain management. The customers demand transparency in the supply chain process to keep track of their products. Blockchain offers digital ledger that is distributed and decentralized, allowing absolute transparency for the entire supply chain process.

Blockchain Companies: 1World Online, aXpire, Context Labs, Cryptyk, Datawallet, HashChain Technology, i-House.

Tackling Counterfeit Goods: With a significant rise in counterfeit products, many companies have been experiencing losses due to flexible return policies. Blockchain can prevent these frauds. Blockchain technology enables customers to keep track of their products at all times. Retailers can use a scannable code to each product, allowing consumers to view the entire history of the product from the place of manufacturing to the last reseller.

Analyzing buyer’s behavior and decision making: Blockchain technology can connect with smart devices to analyze customer behavior. It can provide significant advantages to the manufacturers as it can give insights on the need for change in a particular product and any required change in the production quantity of a specific product.

Apart from incredible security and traceability, blockchain technology has many other use cases for industries. The technology can create markets that are decentralized allowing people to communicate without the need for any third party.

Check out: Top Blockchain Companies.

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