Blockchains are a highly reliable, secure mechanism for storing and synchronizing digital records, replacing single points of failure with a secure network of validated transactions.
The following differentiates blockchains from traditional databases:
Two main areas where blockchain technology can accelerate the digital transformation in your organization is where you have lack of transparency requiring reconciliation of business transactions and the other when you need to track assets and inventory across your value chain extended from your suppliers to your customers.
We recommend the below specific pre-requisites when to consider blockchain as part of your digital transformation journey -
As your start with your blockchain journey in your organization below are some key areas to consider:
Even though blockchain offers tremendous savings, but initial high capital cost to purchase hardware and integration with existing may deter rapid adoption. Most organizations are currently focused on Proof of Concepts and Pilots. As the technology rapidly matures focus on production systems will rapidly take the center stage.
Please contact us to discuss specific potential Use cases for the Pharmaceutical and Healthcare Industry segment especially for Patient Recruitment and Clinical Trials.