While hype surrounding crypto certainly helped drive consumer interest, funding, and innovation in the past, it has also perhaps overshadowed some of the hard business uses to which blockchain is uniquely suited. These advantages include immutability. Blockchain can readily digitize the paper processes once relied upon to share information up and down supply chains. In the longer term, the technology can even make it possible to exchange value between participants where an efficient market maker does not yet exist, for example with carbon credits or cross-border remittances, areas of commerce that have been devoid of clear rules and level playing fields for participants. In short, blockchain is best at tackling problems where there is a lack of traceability or a lack of digital economy.
Credit: Source link