Most businesses have become recently aware of the importance of Blockchain technology whether because of the rise in the price of Bitcoin and other cryptocurrencies. However, very few business leaders truly understand the benefits of Blockchain technologies and how they could leverage this innovation to change the way they operate their business and become more competitive in their marketplace
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What is Blockchain and Distributed Ledger Technology?
As described by Satoshi Nakamoto in the now-famous "Bitcoin: A Peer-to-Peer Electronic Cash System": Blockchain is a type of distributed ledger technology (DLT) that stores data (commonly immutable and sequenced transaction records) in a decentralized manner via encryption and consensus algorithms.
Due to the nature of how Blockchain or DLT technologies are designed and architected, these technologies can help organizations to build systems that are:
- Secure and Encrypted
- Efficient, Auditable, Traceable
- Have lower transaction costs
- Distributed architecture
Our four steps to a successful Blockchain Project?
We, at Nebulai, can assist your organization to understand if Blockchain is right for you. We can work with your business strategy team to define if there are any challenges your organization is currently facing that Blockchain technology could solve. Our approach includes the following:
- Define a Blockchain Maturity Assessment and Roadmap
- Understand potential industry use cases and compare them against other successful use cases we have seen from the same or similar industries.
- Establish the right level of sponsorship for those selected use cases to ensure the success of these initiatives.
- Accelerate the impact of the Blockchain initiative by helping you select the right Blockchain platform and provider.
Have more questions? Please feel free to contact us at:
Our Blockchain Specialist team will be happy to have an initial no commitments conversation to help your organization get started with this disruptive technology.