There are many reasons why digital transformation has become huge, but many organizations are missing a major opportunity by simply running digital projects instead of fully transforming the organization itself. However, digital transformation is no longer a choice for businesses — it is essential to survival. Blockchain technology and quantum computing are very likely to make the most transformative and dramatic changes in the way businesses function, during the next decade.

Blockchain and why it matters to digital transformation

The role of the individual and consumer is shifting constantly the marketplace. Thanks to technologies like machine learning, connected devices and analytics, consumers today are more connected than ever before. New technology trends like blockchain and AI are setting the course for digital transformation at the speed of customer experience.Digital Transformation is obviously one of the more complex challenges an enterprise undertakes and the integration of IoT with blockchain makes that transition easier. Considering the number of people (internal, external, or both) involved in any given business process, a system in which a multitude of electronic parties can securely communicate, collaborate, and transact without human intervention promises greater agility and efficiency.

The appeal of Blockchain technology is profound in the financial-services industry and comes from the security, efficiencies and data validity inherent in the technology. Blockchain can leverage efficiencies beyond contracts and financial calculations to enable more efficient relationships in automation and industrial applications as well.

Applications for blockchain technology :