Blockchain gained traction a few years ago as a segment of the Bitcoin revolution, propelling the cryptocurrency movement for fast and secure transactions. Today, blockchain has sundered away from Bitcoin and is ushering its own identity as a promising technology to digitally transform enterprises. This digital transformation is no longer just a choice for businesses, it is essential for their survival in today's volatile market that presents opportunities for innovation across a variety of verticals. However, it is not just about the businesses and consumers implementing blockchain technology, but setting a new course for digital transformation at the speed of customer experience. The appeal of blockchain technology is significant in the financial services industry, mainly centered on security, efficiency, and data validity. The ability of blockchain to leverage efficiencies beyond financial calculations and contracts to enable effective relationships between automation and industrial applications is paramount for a seamless digital transformation.Considering the vast number of users--internal and external--in any given business process and the complexities of digital transformation, blockchain technology is the next big platform to drive this metamorphosis. With secure communication, collaboration, and transactions void of human intervention, blockchain technology promises superior agility and efficiency throughout the business processes. This technology, though still at its infancy, empowers users, be it in any form of trading or exchange of value, with reliable and secure transactions across the network. The decentralized and cryptographically secure nature of blockchain makes it feasible for financial institutions to conduct quicker and transparent transactions. This eliminates the need for a centralized, "trusted" intermediary to route the transactions, thereby reducing both cost and time required to conduct a financial transaction.Organizations are leveraging blockchain's distributed ledger attribute to establish `digital trust', simplify smart contract creation with a high degree of confidentiality. Blockchain offers consumers the ability to track provenance with full traceability of their transactions made over the network in a timely and cost-effective manner for eradicating human error or fraud across the entire business process.Blockchain is here to stay, and the key to success remains in an enterprise's ability to identify, analyze and determine the benefits of blockchain for adding considerable value. To gear up for the blockchain era, we suggest our readers have a look at how this technology is redefining innovation in the digital spaceAnnie Johnson To subscribe to APACCIOOutlookVisit www.apacciooutlook.comArt & GraphicsAmelia StewartFlynn SmythToby LangtonSujay KManaging EditorAnnie JohnsonEditorialSupercharging Digital TransformationSenior WritersLane Adams Clara MathewRoyce D'SouzaEditorialAlfred MardinLouis BeckerRachael ClarkRoy ChowPranav SudhakarCopyright © 2019 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.MARCH - 12 - 2019, Volume 05 SE 06 Published by ValleyMedia Inc.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmailsales@apacciooutlook.comeditor@apacciooutlook.commarketing@apacciooutlook.comContact usPhone: +1 510.996.5168Fax: 510-894-8405Annie JohnsonManaging Editoreditor@apacciooutlook.com
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