WHAT IS BLOCKCHAIN ?
Blockchain is essentially , as the name suggests , a chain of blocks . However , instead of a physical chain , there ’ s digital information ( the block ) stored in a public database ( the chain ). When a block stores new data , it is added to the blockchain .
Blockchain can scale transparency and trust through all stages of the industrial value chain , from sourcing raw materials to delivering the finished product . Pain points it could help address , include :
Blockchain-powered solutions can seamlessly aggregate all of the information to deliver significant value for industrial companies and help unlock the full potential of other advanced technologies , such as augmented reality , IoT and 3D printing .
In PwC ’ s 2018 Global Blockchain Survey , researchers found that 84 % of executives across industries said their companies have had some involvement with blockchain , and 15 % have live projects . The potential of blockchain-powered solutions to create value by empowering firms
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