Bitcoins, Blockchain and Business revolutionFlorencia Calomino
Bitcoins are becoming part of our daily talk. And, although it would seem that digital currency is set aside to virtual services, the reality is far from this conception. Currently, in the City of Buenos Aires, there are 127 storesthat accept it as a payment method, enabling the consumer to access to several services as buying a beer or going to a dental consultation.
The cryptocurrency is getting even more relevant and visible. To give just one example, in Argentina there will be 2000 ATMs that will allow operating with bitcoin, etherum, litcoin, cash and credit card. And even though its relationship with finance implies a paradigm shift, its most important aspect lies in the digital system that supports it: the blockchain.
Basically, it is a chain of blocks with a sophisticated verification process in which each part contains a hash with the previous block, forming a database shared by all the nodes that form the system.
This concept is interesting as it can be adapted to several activities, generating value in different industries. For example, the entity known as US Customs and Border Protection (CBP) is investigating its application to the commercial functions of the agency. While TOYOTA wants to use this technology to track auto parts that move between countries and factories.
These first experiences are opening up the road for the economy. The World Economic Forum named the blockchain as one of the major IT trends that will develop during the 2020s and estimated that by 2027 they could channel 10% of world GDP.
Paying particular attention to this, SAP incorporated it into its innovation system. With SAP Leonardo it allowed integrating it to various industries and business lines, among which the public sector, the supply chain, financial services and public services stand out. The first projects are already underway, including the recent announcement of 27 new partners and customers to the platform.
As SAP Gold Partners and Digital Transformation Promoters, we are testing with the latest trends in order to add value to diverse organizations. If you want to know in detail how the blockchain can become a key differential for your business, you can contact us by writing to firstname.lastname@example.org