Blockchain isn’t only about bitcoin. The technology best known as the record-keeping system behind cryptocurrencies seems poised to play a broader role in business. Today, companies see an opportunity to use blockchain to track the movement of assets throughout their supply chains; overhaul back office systems; or electronically initiate and enforce contracts. Here’s how some companies are applying blockchain technology:
- Walmart Inc. is beginning to use the online ledger technology to manage supply-chain data for mangoes, berries and a couple of dozen other products. The system, built with IBM, will help Walmart figure out where bad food came from during product recalls
- British Airways last year tested blockchain to maintain data on flights between London, Geneva and Miami. The idea was to stop conflicting flight information from appearing at gates, on airport monitors, at airline websites and in customer apps.
- Cargill Inc. tested blockchain in turkey distribution this Thanksgiving, with some family farms that provide turkeys to Cargill uploading data so that shoppers could learn about the provenance of the birds they bought from supermarkets. The company in the past has tried various technologies to improve traceability in its food supply chain, including RFID, but sees more promise in blockchain,
- L.L. Bean Inc. wants to test the combination of blockchain and Internet of Things technology to understand how people use its outdoor gear. In a test due to begin this year, L.L. Bean plans to ship a line of coats and boots with sewn-in sensors that send data to the public Ethereum blockchain platform.
- Over 40 top financial institutions and a growing number of firms across industries are experimenting with distributed ledger technology as a secure and transparent way to digitally track the ownership of assets, a move that could speed up transactions and cut costs while lowering the risk of fraud.
- The Music industry is testing blockchain as a means to manage the micro-transactional nature of streaming music, turning pennies into dollars.
Corporate spending on blockchain software is expected to reach $2.1 billion this year, up from $945 million in 2017, according to researcher International Data Corp. Distribution. Retail and Manufacturing are among the industries due to ramp up blockchain spending in 2018
Last December, we held a discussion on Blockchain and the program sold out. Now we expand this topic and offer more viewpoints. Join us as our expert panel explores this transformational topic.
- Thomas Carter, Dealbox
- Markus Levin, XYO Network
- Dawn Berry, LunaDNA
- Paul Puey, Edge
5:30: Registration, Appetizers and Networking
7:45: Audience Q & A
8:00: Program Concludes, Networking, Coffee & Dessert until 8:30
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