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Experiencing a Digital Transformation

As 2016 has peaked, beginning its slow decent to 2017, businesses are facing a great many changes to the global commerce landscape.

Let’s face it; the world is getting smaller. And with it, a rising consumer base. Now, of course this isn’t bad news, as being able to market to a global audience is something that most businesses only dreamed about just a few decades ago. Now, having nearly half of your customers coming from countries around the world is the norm when it comes to many, if not most online entities.

With the globalization of businesses and the rapid breakdown of barriers when it comes to consumers and the ability to buy, these same businesses are facing the new challenge of satisfying a global consumer base.

Deliverables

Products and services must be delivered to an incredibly assorted target audience and at a pace that is far more rapid than ever before. Because of this, release and delivery and product modifications are mandatory.

It is in this arena that leveraging networks becomes all too critical a foundation. You must enhance, nurture, and sustain your networks in order to ensure your company is able to meet the demands your new customer base authors.

Networks and Evolving Technology

While leveraging networks is the key to meeting audience demand, so too is technology a key player amidst growing challenges. However, these same organizations that need to evolve with the changing technology that, in part, helps them to overcome these challenges also want to avoid the risk that comes with utilizing this same technology.

This is why identity and authentication in organizational networks becomes more and more critical. However, a secure and transparent way can be achieved through blockchains.

What is a Blockchain?

A blockchain directly is a type of data structure which allows the creation of a digital ledger, essentially recording transactions. It can then share it across a network of computers. A blockchain also uses cryptography to afford users on this secure network the ability to manipulate the ledger. It also allows this to happen without any central authority.

However, after data is recorded on the blockchain ledger, it is almost impossible to change or to remove the data. If an individual would like to contribute to the data, users who have access and copies of the blockchain have the ability to activate algorithms and evaluate the proposed transaction beforehand. If the majority agrees that this change should be made, essentially validating that it matches the history of the blockchain, then it will be approved and added to the blockchain.

 

I look forward to your feedback and to sharing knowledge with you!

This blog was originally posted on Leveraging Networks. Please follow me on Twitter and LinkedIn

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2 Comments

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  1. Gregory Misiorek

    Hi Gerd,

    have you worked with Raimund Gross, John Bertrand, or Tony Lusk on blockchain within SAP? i was trying to log blockchain within the SAP Customer Connection Focus Topic ERP Financials 2017, but got no traction, so was wondering if there is a team dedicated to the effort or is it still a grass-roots initiative.

    thank you, greg

    (0) 
    1. Gerd Ehrhardt Post author

      Hi Greg,

      Thanks for asking! I believe that Raimund, John and Tony are your right contacts to continue your discussion on blockchain.

      All the best

      Gerd

      (0) 

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