December 7, 2023

Are you exploring blockchain, also known as Distributed ledger technologies (DLT), in your organization’s operational practices? Over the next decade, blockchain will serve as a core big data innovation as Artificial Intelligence and quantum computing enter mainstream applications and business uses.

Blockchain is a big data management concept designed to maximize data collection, accuracy, and utility from exponentially increasing data sets. Among the early use cases for blockchain are cryptocurrency applications; however, there are many applications for business efficiencies and effectiveness. Examples include accelerating healthcare innovations research and patient care operations, defense applications and commercial advanced air mobility, cyber security applications, and next-generation energy and power alternatives.

Just as the 20th century moves from analog to digital technology, upgrading the capacity to share and secure information by replacing physical forms of data with computers and the internet, so too does blockchain have the capacity to boost this relationship through distributed ledger networks and further AI applications.

With its improved ability to track information in real-time, reduce fraud, and enhance traceability, security, and accessibility, blockchain stands out as a top innovation for managing information in the 21st century. It has the potential to dramatically improve any data-collecting organization’s revenue-generating, cost-cutting, and time-saving capabilities.

In summary, the blockchain value proposition is to identify areas of waste and develop solutions to optimize an organization’s value output quickly and efficiently through a wide range of applications. The challenge comes to you. What are you doing to create a blockchain strategy applicable to your organization?