Blockchain Is A Potential ‘Truth Machine’ For The World’s Transactions – Forbes Tech #CuttingEdge

By Joe McKendrick, Contributor      March 15, 2018

There’s so much more to blockchain than cryptocurrency. Blockchain may eventually reach into every corner of the business, providing online, “smart contracts” that bind and assure any type of transaction, from exchange of goods to services rendered to employee records.

The money is beginning to flow in this direction. Worldwide spending on blockchain solutions is forecast to reach $2.1 billion this year, more than double the $945 million spent in 2017, according to estimates from IDC. The consultancy expects blockchain spending to grow at a clip of more than 80 percent a year, reaching $9.7 billion a year in 2021.

Moving up with blockchain

What’s all this money going to be spent on? Intelligent supply chains may be a big piece of it. Just recently, IBM and Maersk launched a blockchain-enabled shipping platform, essentially, an “end-to-end shipping solution that will give all parties involved in global trade a single view of where cargo is and allow authorities to give electronic approval for its movement,” as described by Computerworld’s Lucas Mearian.

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