Do you know how blockchain technology is applied to other industries apart from fintech? While crypto and blockchain are tightly related, the new technology offers way more than that.
Taking a food and beverage business as an example, Livshits noted that blockchains can provide “the required transparency that consumers today demand and expect” as the “average consumer today no longer just cares about what they eat and how it should be cooked,” but consider where ingredients are sourced and how they’re handled.Livshits added that the adoption of blockchain technology could become mainstream and “even help with quicker payments.
Sankar Krishnan, executive vice-president and industry head of banking and capital markets at Capgemini Financial Services, told Cointelegraph that blockchain technology is “very ESG friendly,” referring to environmental, social and governance standards to which investors have increasingly been paying attention.
Moreover, Krishnan added, a blockchain provides more transparency and improves tracing capabilities for raw materials while also making data available to every involved party simultaneously, significantly reducing the risk of fraud. He added: Despite all of these use cases and possibilities, there’s a reason not every company in the world is diving into the blockchain world and the technology isn’t being adopted en masse.While the use of blockchain technology has kept on growing over the last few years, some companies have yet to start adopting it despite the numerous advantages offered. The problem with this type of technology is the required investment necessary to implement it.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing 'Very Serious' Violations – Regulation Bitcoin News'The fine was imposed because Binance offered crypto services in the Netherlands without the legally required registration,' said the central bank. cryptocurrency bitcoin
Read more »
Aave taps Pocket Network to beef up decentralized app developmentAave is now working with a decentralized Web3 infrastructure provider, Pocket Network, to provide developers more scalability and simplicity when building decentralized apps on the Aave Protocol.
Read more »
A beginner's guide to understanding the layers of blockchain technologyFive layers of technology make up blockchain architecture. In this guide, we will explain these layers and how blockchain's scalability issue can be solved.
Read more »
Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy – Regulation Bitcoin News'We are in the process of strengthening our presence across Europe,' said Coinbase after receiving regulatory approval in Italy. cryptocurrency crypto bitcoin $BTC
Read more »
Bitcoin mining stock report: Monday, July 18Here's how crypto mining companies performed on Monday, July 18.
Read more »