The Internet/ Web solved the problem of sharing information between parties and simplified business transactions
Each party, however, maintains the data in their own system/ ledger and this version of data may differ between parties
This siloed approach of writing the same data in multiple systems/ ledgers creates inefficiencies in the way business transactions are done.
With Blockchain all parties share one version of data and one version of truth
Transaction once recorded on the single shared ledger cannot be altered.
Every party agrees to the transaction before it is added to the ledger.
Makes business faster, efficient, secure and eliminates paper processes.
Looking beyond just the technology and including the token economies that it enables, there is value potential in new types of customer interactions and ways to innovate business models.
This category is looking at benefit potential along internal processes and interactions within the business’ value network. Primary value driver here is cost reduction.
New Business Opportunities: Looking at both the technology and token ecosystem value potential combined, new opportunities are being enabled that are neither part of the core value chain, nor the core business model.
Distributed database with it’s Immutability property for storing data references
Transparency and Auditability enable digitization of Tokens and assets.
Business logic coded onto the Blockchain to execute automatically when triggered.