What are the real benefits of Blockchain

This text is a translation of a German article published by Paul Taylor from SAP. 

Original Title: „Was bringt Blockchain wirklich?“

 

 

German Source: https://www.produktion.de/iot-by-sap/was-bringt-blockchain-wirklich-120.html?sc_src=email_2123469&sc_lid=62414938&sc_uid=sNtyr8KQ5z&sc_llid=7362&sc_eh=c60d738eabf853641&emi=sNtyr8KQ5z&utm_campaign=Was+bringt+Blockchain+wirklich%3F-NL+PRO+Das+Thema&utm_source=pro-update&utm_medium=email

What are the real benefits of Blockchain?

Blockchain is an open, secure method of recording transactions. Learn what crypto technology can do and what are the main advantages over other database systems.

 

Paul Taylor, SAP News Center

 

 

Among the technologies and processes most closely linked to digital change and transformation, Blockchain is considered to be the least understood technology and at the same time the one with the greatest potential for the reliable protection of data and transactions. 

Blockchain (https://www.sap.com/germany/products/leonardo/blockchain.html) combines the openness of the Internet with the security of cryptography. The technology enables users and companies to verify key information faster and establish trust faster – without the involvement of third parties and other intermediaries. 

Blockchain was developed over ten years ago as the technical basis for the crypto currency Bitcoin, with which the blockchain technology is occasionally confused. As Pat Bakey, President SAP Industries, noted in a blog post a year ago: “Early horror stories about Bitcoin, the most famous digital currency using Blockchain, have led to Blockchain being perceived as a dubious Dark Web tool.

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