The potential of Blockchain technology is spectacular. As noted at the beginning, the consulting firm PwC recently published a report in which, after analyzing the use of this technology and its capacity to generate value, they estimate that it has the potential to increase global GDP to 1.76 trillion dollars by 2030. The figure is astounding and shows that this is a system that is here to stay.
Blockchain has its own strengths and weaknesses, advantages and disadvantages that must also be taken into account to understand the scope of this innovation and what aspects can generate certain uncertainty and vulnerability in users, both corporations and professionals.
Advantages of Blockchain
Security : Transactions that are validated are immutable and permanently recorded. No one can delete a transaction that is already in the system.
Trust : Users can be assured that records are turkey whatsapp data confidential and cannot be breached.
Efficiency : As if it were a shared ledger. It allows for faster operations.
Low operational cost : intermediaries are eliminated, thereby reducing the expenses that would have to be allocated to other commercial operations.
Disadvantages of Blockchain
Scalability challenges : As the network grows, challenges may arise in terms of operations, system speed, and even transaction efficiency.
Specialized professionals : This is a system that requires trained people to be in charge. The lack of qualified technical personnel could be an obstacle to adopting the blockchain system.
Regulation to be developed : the regulatory framework is not defined and this may cause some companies and corporations to reject this formula.
Blockchain Examples
As you can see, there are still aspects to study and factors to improve for Blockchain technology to continue advancing. The future prospects are really interesting and the best proof of this is that more and more cases of successful adoption of the blockchain are known in different companies from all kinds of sectors. Examples of Blockchain ?
Financial sector
Renowned entities such as BBVA and Banco Santander are beginning to trust in this technology and have implemented Blockchain operations for certain transactions.
Health field
Improving efficiency when caring for patients and, therefore, increasing work performance and profitability. The IBM Blockchain Platform is already present in healthcare centres with interesting results.
Food and agroindustry
Raw Seafoods has relied on IBM Food Trust to record the catches it obtains at sea and how they are channelled to supermarkets and restaurants. Data and figures that will allow the company to analyse its operations and propose improvements that will impact its financial results.
Blockchain technology is a reality and that is why it is included in training for professionals interested in developing their professional career in the world of finance and business management. At EAE Barcelona we have two training proposals where the blockchain plays an important role, such as the Master in Financial Management and the Master in Finance . The objective is for students to graduate with the best training and knowledge to find a place in the job market and improve their chances of professional advancement.