As many of our readers know by now, blockchain is an architecture that allows users to conduct transactions with each other and create an unchangeable, secure record of those transactions. As such, it has attracted an enormous amount of interest by technologists in finance, healthcare, supply chains, shipping, energy and even election voting.
“The applications are endless,” is a common refrain. Another is “blockchain technology will be the next TCP/IP of finance.”
In this new article, Computerworld senior writer, Lucas Mearian, gives us a three-page course on the current state of blockchain adoption across many industries and a look at the challenges they each face. Finally, he gives us a look at the possible future of blockchain deployments and their role in transforming business practices for efficiency, speed and security.
Recently, the House Science, Space and Technology Committee’s Oversight and Research and Technology subcommittees held a hearing titled, “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods.”
Blockchain momentum is accelerating at even the highest levels among decision-makers. In the House or Representatives hearing, a director with the Department of Homeland Security summed up the sentiment on the future of blockchain technology saying, “The applications are almost limitless.”
Representatives from the shipping and supply chain industries spoke up to agree. Click to get the short scoop or full transcript at Blockchainplusthelaw.com.
A glimpse into the near future: By applying the transformative advantages of IoT operations, “smart factories” will bring vast changes and benefits to the price of goods, job types and locations and end-to-end supply chain responsiveness.
This insightful article by Monica Ricci, an Associate Researcher at MachNation is brought to you by IoT Business News. Here, Ricci, who is an IoT business model specialist, focuses on four categories of change targeted by IoT applications:
* Delivering automation and digitization of information
* Asset management and maintenance on the factory floor
* Plant management
* Increased customer satisfaction and competitive differentiation