Blockchain offers enterprises a new method for transacting over a distributed, trusted network, but plugging the technology into existing databases, ERP systems and a client/partner base is no small task. And in many cases, it isn't even needed.
While few production blockchains have been deployed, the distributed ledger technology (DLT) was still one of the most-hyped technologies of 2018. It's not just hype; the blockchain market is expected to skyrocket in value from US$708 million in 2017 to $60 billion by 2024.
Because of all the market hype, companies made a mad dash to implement DLT, lest they lose a competitive edge, according to Kevin McMahon, director of emerging technologies at Chicago-based consultancy SPR.
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