Blockchain changes how we transact with each other
Don’t get left behind by the next wave of digital business
THE NEXT GENERATION OF DIGITAL COMMERCE
Want to embrace disruptive technology before your business is disrupted? Unchain blockchain and get a head start enhancing business performance.
It’s hard to imagine today, but many companies adopted a “wait and see” approach to the Internet and e-commerce, mobile computing and the cloud, watching from the sidelines as evolving technologies became the lifeblood of business.
They were left scrambling to catch up with early
adopters—many now household names—who wisely anticipated and prepared for these pivotal technology sea changes. We are now on the precipice of the next generation of digital commerce.
Blockchain has the potential to transform business operations across all industries. This decentralized software mechanism functions as a public, digital ledger distributed across a chain of computers, all of which need to approve the transactions before they are verified and posted. It will speed funds transfers, mortgage applications and trade settlement by eliminating an intermediary to authenticate and secure transactions. The technology can focus on solving existing efficiency problems or creating entirely new opportunities and business models.
Amid unprecedented industry hype, the unique combination of technologies known as blockchain has emerged as a possible antidote to one of today’s most vexing online business challenges—how to create greater trust, transparency and accountability for all who wish to transact and interact online.
Learn about the cost savings and operational efficiencies that blockchain can deliver from Lata Varghese, Cognizant’s AVP, Blockchain Consulting.
Blockchain's shared infrastructure offers organizations a way to improve their operational efficiency and cash in on new business opportunities and emerging ecosystems.
CONVERTING THE INTERNET OF THINGS INTO THE INTERNET OF VALUE
Imagine a smart insurance contract that would pay out against the insurable event without the policyholder having to make a claim or the insurer having to administer the claim.
With the Internet of Things, blockchains in manufacturing will autonomously monitor prices, delivery times and other conditions, and automatically negotiate and complete transactions in real time
Through targeted approaches, many of which we are piloting with clients today, companies can explore blockchain’s potential and grab some quick wins using smart contracts in document exchange, record-keeping, multisignature and digital asset transfer.
Blockchain initiatives will span the enterprise architecture. They won’t be as simple as dropping a piece of software into an existing process. Companies can’t hit pause and stop operations while they move from a centralized infrastructure to one that is decentralized.
HOW WE ARE HELPING CLIENTS GAIN VALUE
That’s why companies that want to seize the potential of blockchain need a partner with equal expertise in business processes, industries and system integration.
Cognizant is working on blockchain projects with clients to accelerate digital identity assurance, secure document exchange and support funds transfers. The early adopters who get out in front on blockchain will reap major returns on their blockchain investments.
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