The market is being bombarded with information about digital transformation and industry 4.0. We have a wave of new information technologies that open up a new world of possibilities for companies' businesses.
In times of market risks, known as black swans, such as the corona virus, and other more predictable risks, but with high impacts, such as the oil disputes between the major powers, the challenges for companies have become even greater in terms of maintaining and/or creating new profitable business models.
The traditional business model created by companies up until now has been based on information silos and total control of business models, including their partners, suppliers and even customers.
However, the traditional model is no longer working in these times of the sharing economy, where tangible and intangible assets such as infrastructure, operations and intellectual capital are shared with the market and society to create disruptive business models.
One of the technologies to be highlighted is Blockchain, which allows business models to be created for networking and storing information in a totally decentralized, shared and totally secure way, enabling collaboration and sharing that is also required by Industry 4.0 and the digital transformation mindset.
In Blockchain we have various concepts and technologies that already existed on the market and which have been connected to enable this new disruptive network model. Among these concepts we can highlight decentralization, the way information is stored in interconnected blocks, consensus between participants for approving transactions, smart contracts and decentralized applications (DApps).
Among the main benefits that companies can use to connect their businesses, through the use of Blockchain, we can mention:
- Cost benefit: Eliminates the need for third parties to operate business processes;
- Time reduction: It speeds up integration between companies, partners and suppliers in a decentralized network in which everyone is a part, but where no one has total control over it;
- Movement on a global scale: Major market players such as Microsoft, Oracle, IBM, Governments, among others, are investing heavily in the evolution and use of Blockchain-based technology;
- Better performance: Market Blockchain solutions are scalable by nature due to their decentralization;
- Security: Data protection and reliability, immutability, based on encryption policies, digital signature, which are integrated between the applications that support your business processes and the new functionalities connected to Blockchain;
At MONTREAL, we have initiatives in Blockchain projects to enable the creation of business networks between companies and partners, based on the formation of consortia that have complementary business processes to serve their customers, seeking to bring agility, low cost and, above all, convenience to facilitate the delivery of value to all the participants in these business networks.
In addition, we have expertise and use market platforms such as Hyperledger Fabric to develop consortium-type Blockchain networks to add specialized channels to foster new business models with market companies. Other platforms we can highlight are R3 Corda, Quorum (JP Morgan) and Ethereum.
Is your company participating in a network or consortium using this new Blockchain technology? Talk to us! We want to support you on this journey!
MONTREAL, the present future.
Contribution Diovani Luiz Merlo - Information Technology Consultant
