Benefits of blockchain - Business value
The use of blockchain technology is expected to increase significantly in the coming years. This game-changing technology is both innovative and revolutionary. Blockchain will innovate existing business processes with modern efficiency, reliability and security.
Blockchain technology provides certain business benefits that help companies in the following ways:
Builds trust between parties doing business together by providing reliable and shared data
Eliminates siled data by integrating data into a single system through a distributed ledger shared within a network accessible to permitted parties
Provides a high level of security for data
Reduces the need for third-party intermediaries
Creates real-time and uninterrupted records that can be shared among all participants
Allows participants to guarantee the authenticity and accuracy of products placed in the trade flow
Enables seamless tracking and monitoring of goods and services across the supply chain
Provides food safety with Oracle Blockchain Platform
volvo blockchain
Blockchain IoT partnerships
Blockchain is no longer a new technology. Indeed, blockchain solutions have continued to evolve and meet business needs with other technologies such as artificial intelligence (AI), Internet of Things (IoT), and machine learning. These key technology partnerships help users gain important insights from data.
In IoT deployment, traditional IT systems are not suitable to handle the huge amount of data generated. The volume, speed, and diversity of data produced by IoT networks can overwhelm enterprise systems or significantly limit the ability to make timely decisions with reliable data. Blockchain's distributed ledger technology has the potential to overcome these scalability challenges with greater security and transparency.
What is Hyperledger?
Hyperledger is an open source project launched by the Linux Foundation to advance global collaboration of blockchain technologies. Hyperledger's primary goal is to develop open source blockchain applications that meet scale, performance and security objectives for enterprise goals. Hyperledger supports a neutral and open community of members who contribute code to develop Hyperledger Fabric software, which many institutions use as the basis for their blockchain projects.
As a key member of Hyperledger, our Oracle and Blockchain solutions are built on Hyperledger Fabric. Thus, we leverage open source and ensure that interoperability with the underlying protocols is maintained.
