Blockchain for businesses: The ultimate enterprise guide
Blockchain is essentially a database technology with attributes that, taken alone, are not unique to it, but which collectively produce a technological breakthrough in how digital information is stored, verified and exchanged.
When the technology hit the scene in 2009 with the release of its first application, the Bitcoin cryptocurrency, blockchain had a Wild West feel akin to the early days of PC hackers, making the technology seem risky and unproven for business use. That began to change about five years ago when a burgeoning open source community began developing complete enterprise platforms, including the programmable blockchain, Ethereum.
Expectations for enterprise blockchain were sky-high to begin with, but the reality fell far short of the hype, and business blockchain projects were few and far between.
In the past two years, as household brands like Bumble Bee Foods, IBM, Walmart and Visa have proudly touted successful blockchain deployments, blockchain is getting a second chance at relevance in the enterprise. IT heavyweights including Amazon Web Services (AWS), IBM, Oracle and SAP have gotten behind it in a big way. Is blockchain ready for success in the enterprise?