Why should organizations understand blockchain technology?
Blockchain Technology is designed to provide value propositions such as decentralized storage, innovative crypto economic and investment models and radical new forms of decentralized participative governance models that could lead to the evolution of a new generation of Digital Platforms and multi stakeholder business interactions.
In other words, the strategic business value of blockchain is growing.
Initially, blockchain technology powered the infamous cryptocurrency boom, giving rise to Bitcoin, Ethereum and much more. But, now the applications for blockchain technology are growing in a number of industries.
Its presence is felt more than any other in mainstream finance, where it has gained huge momentum.
Experts in blockchain technology are pretty much in agreement: Once a niche for crypto-experts and coding buffs, now big traditional institutions and even central banks are looking to blockchain as they build the foundations for the next generation of financial services.
The global COVID-19 has also played into the growth of blockchain technology. Many believe that in the investment space, the rise of COVID-19 and the resulting economic turmoil has led institutional investors, from traditional hedge funds to major banks, to begin looking at crypto assets as a hedge against the market and impending inflation.
For example, JP Morgan now offers a crypto bank account, where just a decade earlier conventional banks would have had considerable disdain regarding cryptocurrencies.
Established banking institutions worldwide are finally getting it: Blockchain provides a fundamentally new, more efficient, secure and immutable way to transfer value and record transactions, unaffected by borders or physical locations. These characteristics mean there are huge opportunities for blockchain to revolutionize processes and systems in industries that are not currently optimized.
Want to learn more? Tonex offers a 5-day Blockchain Mini MBA program that addresses the blockchain technology, business, leaderships, tools, and concepts that can help effectively manage development and provide a guidance to improve business decisions.
Tonex also offers several more Mini-MBA programs:
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