Digital Marketing Statistics & Metrics

The Top Organizational Use Cases of Blockchain Technology, 2019

Uncategorized | Global

A blockchain is in the simplest of terms a time-stamped series of an immutable record of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data is secured and bound to each other using cryptographic principles (chain). The blockchain technology is a simple yet ingenious way of passing information from A to B in a fully automated and safe manner. One party to a transaction initiates the process by creating a block. This block is verified by thousands, perhaps millions of computers distributed around the net. The verified block is added to a chain, which is stored across the net, creating not just a unique record, but a unique record with a unique history. The largest number of blockchain use cases so far are in the global banking or financial services industry, which is currently battling NPAs and money laundering. This path-breaking technology seems to offer permanent solutions to banking fraud.

Take a look at the organizational blockchain technology use cases, 2019:

  • Data validation is ranked as the most blockchain technology use case by surveyed organizations with a rate of 43%.
  • Data accessing/sharing is ranked as the second most used blockchain technology use case by surveyed organizations with a rate of 40%.
  • Identity protection comes at next as a use case of blockchain technology use case by surveyed organizations with a rate of 39%.
  • Payments also listed as a blockchain technology use case by surveyed organizations with a rate of 37%.
  • Digital currency is ranked also as a blockchain technology use case by surveyed organizations with a rate of 36%.
The Blockchain Organizational Use Cases, 2019.

A Graph Shows The Blockchain Organizational Use Cases, 2019.

Deloitte

Deloitte is one of the "Big Four" accounting organizations and the largest professional services network in the world by revenue and number of professionals. It's a multinational professional services network. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities. DTTL also referred to as “Deloitte Global” and each of its member firms are legally separate and independent entities. Deloitte's firms around the world help clients become leaders wherever they choose to compete.
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