Introducing Blockchain: Six Limitations For Enterprises To Remember
A “trustless” network. Many people perceive blockchain as this. However, it doesn’t assume that involved business parties don’t trust each other. They don’t have to mainly because of enhanced security and traceability. This is probably one of the reasons why companies’ investment in it is increasing rapidly. According to Statista, by 2024, the global expense on blockchain-enabled solutions will multiply by three times and comprise $19 billion compared to 2021. By addressing two strategic business needs ― performing transactions and record-keeping ― this distributed ledger technology provides secure data encryption and high fraud protection.