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Showing posts from August, 2020

Enterprise blockchain platforms are becoming “obsolete”

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Enterprise blockchain platforms are facing inevitable obsolescence. Businesses should be well-prepared for the change without missing out on benefits. A report by Gartner in 2019 stated that 90% of enterprise blockchain platforms would be obsolete by 2021 to cross-industries and by 2023 to the supply chain. Their interpretation of this conclusion is based on their arguments about the market fragmentation and lack of solution packages. However, experts still believe in a bright future of enterprise blockchain solutions with $176 billion value estimated by 2025 and explode to $3.1 trillion by 2030. Life in the digital world is changing rapidly; obsolescence of technology is inevitable. So what should existing blockchain platform developers as well as businesses interested in this technology do for the change? To blockchain itself and enterprise blockchain platforms: Blockchain is a distributed ledger that stores data linearly in “blocks” using cryptographic algorithms. Managers use blo...

Hyperledger Fabric for the future of enterprise blockchain platforms

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  akaChain list out some main characteristics that make Hyperledger Fabric best fit for enterprise blockchain platforms. Many economists call blockchain “the next general-purpose technology” by its incredible potential value in almost every field. “85% of survey respondents said that their suppliers, customers, and competitors are discussing/working on blockchain solutions to current challenges in the value chain” (Deloitte’s global blockchain survey 2020).  Since each enterprise has different business characteristics, the blockchain solution has to be customized. Besides, building an enterprise blockchain platform for some specific business needs is arduous. Therefore, technology companies or start-ups will build up their enterprise blockchain platforms for providing multi-business purposes to other companies. The open-source Hyperledger Fabric project was born as a rudimentary platform, making it easier for technology companies and software developers to build the enter...

Top enterprise blockchain applications in the supply chain industries

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  Implying enterprise blockchain applications in the supply chain can help increase trade volume by 15% and the US GDP by up to 5%. Comprehensive research by Market Research Future Reports (MRFR) recorded that the worldwide blockchain in supply chain market reaches value from USD 81.40 million in 2017 to USD 3,485.25 million, prospering at a CAGR of 87.0% during 2018 and 2023. Especially with the impact of pandemic COVID-19, the needs for developed security and transparency in supply chain management to control transaction flow is rising drastically. Enterprise blockchain applications are no longer here to stay in supply chain industries. Main purposes that make supply chain companies are approaching blockchain for their business. End-users demand for transparency is rising while companies are more open to sharing data with partners and even competitors. The development of a solution that allows sharing data safely and effectively to create transparency is inevitable. Blockch...

The diversity of enterprise blockchain in EMEA

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The difference in economic, cultural and political conditions between regions induces the diversity of enterprise blockchain in EMEA . [caption id="attachment_4296" align="aligncenter" width="2520"] The diversity of enterprise blockchain in EMEA[/caption] By Gartner forecasts, blockchain annual business value will reach over US$175 billion by 2025 and rise to over $3 trillion by 2030. The decentralization, distribution, immutability and transparency of blockchain in multi-sectors contribute to this enormous number. Although there are still apprehensions about media and hype around blockchain, Governments and Consortia in EMEA focus their concern on its business value and commence studying and developing their enterprise blockchain projects. Blockchain in EMEA is rising with diversity in the area.  The diversity of enterprise blockchain in EMEA In 2018, Deloitte, one of the leading companies of audit, financial, and risk management consulting, establish...

Vietnam’s Government Endorses FPT Software’s Blockchain Platform, Pushing for National Digital Transformation

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HANOI, Vietnam, August 17, 2020 – Last Thursday, Vietnam’s Ministry of Information and Communications announced the launch of akaChain, an enterprise blockchain platform developed by leading IT firm FPT Software, as part of its national program for digital transformation. akaChain is one of a few made-in-Vietnam digital platforms that were hand-picked by the Government to accelerate digital transformation in both the public and private sectors. As per a plan approved by the Prime Minister in July, Vietnam sets to become a global Top 50 country in terms of information and communication technology development and Top 35 in terms of Global Innovation by 2030. [caption id="attachment_4281" align="alignnone" width="1024"] Ra mắt nền tảng công nghệ chuỗi khối akaChain[/caption] Vietnam’s Ministry of Information and Communications Hosted akaChain’s Launching Ceremony on August 14, 2020 Speaking at the launch, Mr. Nguyen Thanh Hung, Deputy Minister of the Mini...

Blockchain Customer Engagement for Bank CIOs to Watch

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  Banks are willing to invest in blockchain customer engagement solutions to enhance their services and increase up to 20% revenue in return. Sale is not a single interaction or a touchpoint, it is a journey. In this journey, customer acquisition or ‘sales closing’ is significant to the banking sector. However, a smart bank manager knows that the second part - customer engagement is much more challenging but worthy of building a long-term relationship with customers. Blockchain technology plays a critical role in this process. Bank CIOs have realised blockchain’s prominent features of decentralization, immutability, transparency. Many of them have already invested in different blockchain customer engagement solutions and achieved impressed reverberation. How can blockchain enhance customer engagement in banks? According to PwC statistics, 85% reputation of a brand generates from daily interactions. These are the experiences between the bank with their customers. To enhance cust...

The rise of blockchain in APAC

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With 72.6% CAGR in the period of 2017-2022 (by IDC statistics), blockchain in APAC is the fastest-growing region in the forecast period. With the characteristic of an open market to new technology adoption, blockchain in APAC is blooming and has shown an incredible number of 522.7 million USD total  in 2019 – recording an increase of 81% compared to 2018. The ability to maintain data privacy, improve the efficiency of the routine and the consistency durability are blockchain’s remarkable factcả titlors that are impacting the market growth. APAC gets the highest CAGR of blockchain adoption by region According to Gartner’s Blockchain scenario report, APAC accounts for 5.3% of surveyed organizations having already deployed blockchain applications. The number will rise up to 8.1% (excluding China and Japan) by 2025, showing a remarkable potential of blockchain in the area. Enterprises, from startups to SMEs and technology giants, have adopted blockchain at different levels since its ...

True sharing economy enabled by blockchain applications

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Immutability, transparency, and trust. Blockchain applications encompass high impact to a true sharing economy.  All activities in the economy come from the law of supply and demand. Technology development offers an ever greater opportunity to connect people around the world. As a distributed database, enterprise blockchain with diverse blockchain applications is gradually bringing a more efficient sharing economy, helping to make the most of the excess resources in society. The sharing economy is on the verge of collapse due to disguise and ineffective management. “Business model” is how businesses bring value to their customers, drive their customers to pay for the benefit and convert those payments into profits. In the sharing economy model, people take advantage of the idle resources available in society. Instead of buying and owning an exclusive product, they are more interested in renting and sharing them. This sharing activity takes place on peer-to-peer networks, whi...