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The Evolution of Enterprise Blockchain 企业区块链的发展

Enterprise blockchain adoption is inevitable if businesses collaborate. 只能在企业合作的情况下, 企业区块链才有可能发展。

By demonstrating its key attributes and disruptive elements, blockchain’s transformative reach could extend beyond the world of finance. However, the big question is when will blockchain technology transform how the world interacts.

Apart from being a transactional medium and financial instrument, blockchain technology has shown that it can support many other applications. Organizations have used blockchain technology to improve existing processes by deploying blockchain to protect intellectual property, securely share documents and track items through supply chains via existing infrastructure.

Enterprises need to understand the potential and challenges of blockchain technology as it matures into an enterprise-ready technology. Interest in blockchain technology expanded after businesses became worried about falling behind their competitors. As we all know, businesses from startups to technology giants such as Facebook and IBM were experimenting with blockchain technology by launching pilot programs and proof-of-concept.

Existing blockchain infrastructures are being applied to business operations that have been costly and inefficient. Although monetary transactions are currently the most common use cases for blockchain technology, tracking the provenance of goods in supply chains and transferring data across multiple parties can also be profoundly transformed by the same technology.

Blockchain adoption is like the early days of the internet. Despite early use cases have delivered improvements over the years, optimism about the future of blockchain is hardly universal. The truth is that most organizations are still uncertain if blockchain is ready for enterprise deployment.

Rather than assigning value to blockchain’s individual traits, businesses should focus on where blockchain might enable or improve processes other technologies inadequately serve.

The immutable and decentralised nature of blockchain enables trust between entities where trust doesn’t naturally or easily exist. And it enhances transaction speeds between entities, removing tremendous inefficiencies and costs that traditional processes and technologies carry.

Traditional supply chain methods of managing suppliers often involve cumbersome manual processes. By using a decentralized approach and an immutable audit trail, blockchain technology can eliminate time-consuming processes and help reduce the risk of errors. Blockchain is effective in tracking the sale and ownership of goods and services, tracking consumer transactions and confirming regulatory compliance in heavily regulated industries such as mining and shipping.

As the world moves towards a token economy, in which most assets are digitized, blockchain will underpin many more transactions. Tokens are a digital representation of ownership that can be applied to anything including tangible assets such as gold and intangible assets such as intellectual properties.

Final Thoughts

Any business that exchanges goods or data will have a reason to use blockchain as the token economy grows. Although some existing blockchain implementations are proving valuable, there are significant barriers to adopting and scaling blockchain use in the enterprise.

Organizations will face difficulties from adopting a blockchain-based approach on its own. Some will argue that it is not logical and effective to use blockchain within an organization only as there’s no need for distributed trust when there’s a centralized database. Therefore, an enterprise looking to start a blockchain-based project to speed transactions, enable trust or create an immutable audit trail should seek to partner with others involved in the same transactional chain. That will mean it requires significant cooperation and coordination among those organizations. However, many organizations aren’t technically proficient to implement blockchain even if they have a compelling use case.

Despite existing obstacles, if blockchain continues to deliver significant improvements to existing business processes, enabling new business models and drastically reshaping how multiple parties interact digitally, it will live up to its disruptive reputation eventually and inevitably.

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