General blockchain potential

download (2).png
https://goo.gl/images/GZihFy
Blockchain technology has great potential to change the business operating model in the long run. Distributed blockchain ledger technologies including basic technology - with the potential to create new foundations for global economic and social systems - not intruding technology, which usually "attack traditional business models with lower cost solutions and quickly take over incumbent companies." , there are several operational products that are due from the proof of concept at the end of 2016. [59]
download (2).jpeg
https://goo.gl/images/YdMzzr

The use of blockcain also promises significant efficiency in global supply chains, financial transactions, decentralized asset ledgers and social networks. [8]

Until 2016, some observers remained skeptical. Steve Wilson, from Constellation Research, considers this technology to have been encouraged by unrealistic claims. [69] To mitigate risk, business people are reluctant to place a blockchain on the core structure of their business. [70]

This means that special blockchain applications are likely to be a disruptive innovation, because they can substantially use cheaper solutions that can disrupt existing business models. [8] The blockchain protocol facilitates businesses in using new methods to process all digital transactions. [71] Examples include payment systems and digital currencies, facilitating funding, or implementing predictive markets and generic governance instruments. [72]
Blockchains minimize the need for trust service providers and are predicted to require a little capital in relation to a dispute. Blockchain has the potential to reduce systemic risk and financial fraud. This technology automates processes that previously drained time and were done manually, such as business integration. [73] In theory, tax collection, direction and blockchain risk management can be made possible.

As a distributed ledger, blockchain minimizes costs for transaction verification, and removes the need for trusted "third parties" such as banks to complete transactions, this technology also reduces network costs. [31]
Starting with a strong focus on financial applications, blockchain technology is expanded to activities including decentralized applications and collaborative organizations that exclude intermediaries. [74]