Blockchain’s role as a trust enhancer is not new. Enterprises have long known that blockchain can provide transparency and reliability for the solutions they need to succeed. But automation and the use of AI take the need for trust to a new level.
To realise the promise of the new digitisation wave in which companies find themselves, we need a proven solution: one that integrates with technologies such as AI and IoT, and that lays a foundation of trust.
Blockchain is the technology associated with trust, security, and integrity. Its secure and transparent method of recording transactions ensures that its users can use AI and other emerging technologies with confidence and enjoy the benefits they offer.
This was one of the key findings of a new report by the BSV Association focusing on the role of blockchain in safeguarding data and streamlining transactions. The report highlights how blockchain technology opens a window on trust.
Using it, enterprises can see clearly where data originates, where it has travelled, and how it has changed along the way. Blockchain’s transparent, secure, and immutable digital ledger establishes reliability and confidence that a business’s devices and data are working as they should.
Benefits for enterprises
Although often associated with cryptocurrency, blockchain offers a multitude of uses and benefits whose value to enterprises extends far beyond that of financial tokens.
- Blockchain creates trust: Using blockchain to manage verifiable digital identities of people, businesses, or devices engaging online means network participants can trust in these identities’ integrity.
- Blockchain offers secure exchange: Its reliance on a decentralised infrastructure dramatically reduces the risk of unwanted modifications when data is shared.
- Blockchain provides integrity: Its transparency enables users to see for themselves that the data they’re sharing hasn’t been tampered with. This feature makes for a trustworthy audit trail, simplifying regulatory compliance.
Blockchain’s benefits are mighty. Using it, your enterprise can not only operate more efficiently and confidently, but also position itself as a leader and innovator in what’s shaping up to be the Fifth Industrial Revolution: one powered by AI and IoT, and the many innovations they make possible.
