How Blockchain Is Streamlining Business Operations

Some companies are at the forefront of exploring how blockchain can revolutionize the financial world.

Ontology is a blockchain for building and managing decentralized identity applications, creating a system that bridges the gap between real world and distributed digital data systems.

How can blockchain be leveraged to change the world of business transactions? By disrupting two major elements of this ecosystem: trust systems and identity verification.

A wide swath of industries are evaluating blockchain to determine what strategic differentiators could exist for their businesses if they leverage blockchain and the secure amount of trust it brings with every financial transaction.

When looking to the future to examine how blockchain could change digital transactions, it’s important to remember what made online sales feasible in the first place.

Jerry Cuomo, IBM Fellow and VP of blockchain technologies, sees block chain already coming more and more into play as people demand control of their identities.

Steve Wilson, analyst at Constellation Research, has a more reserved take on the idea that blockchain truly provides secure identity verification: “We need to remember that the classic blockchain is an elaborate system that allows total strangers to exchange real value reliably. It works without identity and without trust. So it’s simply illogical to think such a mechanism could have anything to offer identity.”