Why Blockchain For Your Business?
IAs an enterprising business, every transaction you carry out with multiple vendors on a daily basis results in a huge repository of data. Be it the shipping of goods, settlement of insurance claims, or managing identity credentials, enterprise blockchains present a single source of truth for this data that can’t be altered once recorded.
>$3 Trillion USD
Of annual business value to be generated by blockchain by 2030
Gartner
Enhanced Multi-Party Collaboration
Built on the concept of distributed ledger technology, blockchain ensures that every node of the member network has the updated information which increases the transparency in transactions and reduces the chaos of working together.
Improved Data Security And Privacy
Transparency doesn’t mean you let go of your business intelligence and competitive knowledge. Encrypted blocks keep data security intact which allows you to share business information with confidence and collaborate securely.
Simplified Audit Traceability
Forget the paper trail you need to rummage for audit proof and identity or part verification. Maintaining an immutable record of activities on enterprise blockchain makes it easy to run audit processes and fight fraud.
Automotives
Switch Gears To A Blockchain-Powered Vehicle Data Management
Connected vehicles, telematics, sensors, predictive maintenance, and fleet management result in petabytes of data which when stored on a blockchain network ushers in transparency and security of critical vehicle information.
| Consent-driven data sharing in telematics | ||
| Automobile lease tracking | ||
| Driving behaviour tracking to incentivize/penalize drivers | ||
| Automobile insurance claims management | ||
| Vehicle maintenance data management | ||
| DLT-based vehicle ownership and maintenance history |
Finance and insurance
Gain Customer’s Trust With Tamper-Proof KYC Data
In an industry whose foundation is built on trust, insurance companies grapple with knowing their customers better while not breaching their privacy. On a blockchain network, insurers can go through AML compliance and KYC processes without spending heavily on data acquisition as customers begin to share their data confidently in the blockchain.
| Detect and prevent fraud | ||
| Automate claims management | ||
| Improve client and insurer relationship |
Supply chain and logistics
Say Yes To Transparent Supply Chains
Information silos within a value chain hinder the organization from meeting customer expectations and satisfying sustainability-aware consumers. Operating on a blockchain, allows multiple stakeholders like suppliers, shippers, transporters, and consignees to collaborate and record data which drives the overall process efficiency.
| Better traceability of product lifecycle | ||
| Increased supply chain visibility | ||
| Streamlined audit and payment processes |