Blockchain anchoring provides ‘proofs of existence’ which can be used by participants in business processes that cross enterprise boundaries when output data (e.g. decisions, documents, or even whole databases) needs to be verified against its representation in a state recorded at a previous point in time, to prove authenticity.
There are many of emerging use cases for blockchain in enterprise settings. MWD Advisors is tracking a number of ‘blockchain for business’ proof-of concept initiatives, with much of the action centering around the simplification of cross-border payments, smart contract automation (with business rules executing on-chain autonomous applications), and blockchain-enabled digital identities facilitating borderless access to information and services (to name but three).
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