Blockchain enables faster, secure and more transparent peer-to-peer transactions, which can be verified without the need of a central authority. It holds the potential to be a major disruption across industries, by making the current business processes more efficient, transparent and less expensive. In fact, it could potentially replace the existing legacy systems, which haven’t kept pace with the technological advancements.
Some of the striking benefits of Blockchain include:
- Increased speed of transactions, without verification by central authorities.
- Improved auditability and monitoring of transactions.
- Reduced settlement and fraud risk.
- Real-time reconciliation.
- Ability for small value transactions, with minimal fees
Blockchain has the potential to drive profound, positive change. We are working closely with leaders from across a broad range of industries, academic community and our key technology alliances to move technology forward so that, ultimately, it can help to improve the way the world lives and works.