Blockchain’s underappreciated, greatest application is Integration: IT Systems and Business Partner Integration

In Uncategorized by Drew Miller

While most know about blockchain as the foundation of cryptocurrencies, even blockchain enthusiasts seem to be overlooking perhaps the most important capability of blockchain:  an ideal systems integrator. Blockchain (BC) can be used to connect together siloed databases across multiple organizations and business processes, exploiting the IOT and Smart Contract billing and administrative cost reduction advantages while protecting confidentiality.  Just as important is Blockchain’s security and reliability which make it a much safer and more feasible means to connect a wide variety and large number of business partners together.  BC as a secure distributed ledger is a key feature we all know of, but it is the specific capability of BC technology to allow integration and limited/trusted/secure sharing of data across not just multiple IT systems and companies but even competing parties and government regulators that really yields significant advantage for business applications.  The power of BC as an integrator is rarely mentioned, but probably the most valuable application of this technology.

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