Blockchain: Four things other than cryptocurrency that blockchain can do for you

We all have heard at least one description of what blockchain is, and perhaps that description had something to do with money or cryptocurrency. But, blockchain technology has broader applications than cryptocurrencies. In the future, blockchain technology could be a part of many everyday business-to-business transactions, including those powered by enterprise applications.

There are many use cases discussed and it can be hard to make sense of them all, but let’s look at the following four scenarios that can bring value to businesses. These four scenarios of how blockchain could work within enterprise applications to provide more flexible, secure, and streamlined business processes—or even enable new business models.

1. Enable distributed, autonomous marketplaces

Blockchain allows asset owners to track and trade things of value—such as outstanding invoices—in a secure, transparent, private, and self-reconciling “chain” of transactions. This capability adds…