CIOs Like Blockchain

Note from the CEO: CIO’s are beginning to board the blockchain ‘choo choo’ and Deloitte explains why. I guess they couldn’t figure it out for themselves and needed an expensive consultant to tell them it’s all good, but hey, glad the CIO’s of the business world see the appeal.

Blockchain is a distributed ledger whose unique characteristics enable immutable recordkeeping, peer-to-peer transfer of value, and distributed processing. Blockchain has the potential to enhance and even replace existing transaction infrastructures in such applications as those used for payments or in capital markets or to govern supply chain. It could prove especially effective in industries such as health care……..

The potential is enormous, says Eric Piscini, a principal and global consulting blockchain leader at Deloitte Consulting LLP. “It’s very reasonable to think companies will move their transaction platforms to blockchain-based solutions,” he says.

CIOs are striving to harvest blockchain benefits for several reasons, Piscini says. The technology could help companies reduce risks and costs by significantly decreasing the amount of time necessary to settle transactions—for example, in post-trade and reconciliation activities. Companies could also increase revenues by providing customers with new or improved services, such as cross-border payment services.”

Read Full Article at WSJ