Technology has transformed how we work, play and do business. It has provided new solutions to old problems, disrupted traditional business models, and helped us become more efficient. The speed and scale of this change is not abating. New developments are still being introduced and applied. According to a new study by Accenture, optimizing the use of digital skills and technologies could generate $2 trillion of additional global economic output by 2020, and it’s calculated that an optimal combination of improvements to digital skills, capital, and other accelerators could lift U.S. GDP by an even greater $421 billion by 2020, representing a 2.1 percent boost.
This growth will be underpinned by new technologies. One of these is distributed ledger technology and its most common application – Blockchain. The World Economic Forum lists Blockchain as one of the top ten emerging technologies of 2016.
Today, there is an opportunity for traditional incumbents to more aggressively pursue Blockchain as an answer to current pain points. Blockchain provides a solution where none existed before: a highly scalable system of record that is nearly invulnerable to attack, provides unmatched data fidelity and is relatively low cost to implement. By optimizing digital investments with blockchain based solutions, organizations can deliver more competitive, efficient, and secure systems.