Increased Security
The distributed and immutable nature of enterprise blockchain technology provides unmatched security by dropping the chances of data breaches and frauds. It uses cryptographic techniques and consensus algorithms to ensure security and integrity.
Enhance Traceability
Real-time tracking and auditing of transactions is made possible by blockchain’s transparency, which boosts shareholder’s trust. According to Deloitte, 53% of business organizations have considered enterprise blockchain as their top concern.
Cost Savings
Blockchain implementation leads to significant cost savings by eliminating intermediaries and automating processes can increase operational efficiency. Statista claims global sales of blockchain technology is expected to reach $39 million dollars.
Supply Chain Optimization
Enterprise blockchain can optimize supply chain by improving tracking and visibility, reduces errors, delays and frauds. 81% of organizations, according to capgemini, think blockchain will have a tremendous impact on supply chain management.
Smart Contracts
Blockchain makes it possible to use smart contracts which automates contract execution by eliminating the need for middlemen which also reduces fatal errors. Juniper research predicts that smart contracts will save businesses $21 billion by 2024.
Asset Tokenization
By enabling fractional ownership and releasing liquidity, blockchain technology facilitates tokenization of assets. According to the estimates from the World Economic Forum, by 2027, blockchain platforms will hold 10% of the world’s GDP.
Cross-border Payments
Transparent, cheaper, faster cross border transactions are made possible by blockchain recorded on immutable digital ledger. The world bank reports, remittance platforms that are built on blockchain technology will save costs up to 90%.
Decentralized Finance
Defi platforms with enterprise blockchain technology, provides cutting-edge financial services without the need of a middleman. DeFi has locked up a total value of $200 billion in 2022, pointing out the rapid growth, uptake and adoption.
Data Privacy and Ownership
Individuals empowered by blockchain technology can own and take control of their data, which improves security and privacy. PwC found that 84% of executives are actively involved in blockchain projects to enhance data security and privacy.
Market Potential and Growth
The global enterprise blockchain is expected to reach $250 billion by 2025, growing at a CAGR of over 50%. Investing early in the enterprise blockchain can hold you a significant share of this expanding market which gives industrial growth.
