Читать книгу Internet of Things in Business Transformation - Группа авторов - Страница 54

However, digital transformation is no longer a choice for businesses; it has become essential for the survival of business in the recent competitive environment. Blockchain as a new technology is likely to bring a dramatic change for business transformation in the coming decades. Blockchain technology came into the picture a few years back as a part of the bit coin revolution and at present it’s a promising technology which can transform the business in various ways. It has given impact to almost every industry and every business which requires more organized business processes. As a crypto currency effort, blockchain was initially criticized but now it is in the initial implementation phase because of its wide applicability. The total investment for the blockchain solutions worldwide is predicted to touch the figure of $11.7 billion by 2022. Banks and other financial institutions have used blockchain technology for almost everything to simplify the processes like loan applications. One of the banking group in Canada have used blockchain for providing more power to individuals so that data collected by the financial institutions can be accessed by them. A large number of industries have started research for verifying the effectiveness of this technology, and it has a great impact on supply chain. Major business leaders like Walmart in retailing and McDonalds in fast food are now using blockchain to supply materials and food.

A well-known and one of the leading company in blockchain i.e. IBM has recently got the project of “blockchain system development” by Brazil which would be used to manage the country’s birth and death records.

Google, Facebook, Twitter, and Amazon are some of the leading companies that have a great impact on our society and as a revolutionary innovation they have improved the actions which have changed the way of communicating with each other, way of thinking, ordering food online, or booking cabs. A large number of professional communities like scientists, developers, and researchers have contributed to the successful implementation of new technologies designed to address almost all the requirements of humans.