Blockchain for Business Use Cases and Pitfalls
Blockchain for Business Use Cases and Pitfalls Blockchain is a distributed ledger technology that records transactions across many computers. For business, it can improve trust, reduce manual reconciliation, and automate routine work with smart contracts. But it is not magic. The best results come from a clear problem, good data governance, and careful design. Common use cases include: Supply chain: provenance and traceability from source to store; faster recalls; reduced counterfeits. Finance and payments: faster cross-border transfers, streamlined trade finance, tokenization of assets. Smart contracts and automation: automatic invoicing, milestone payments, license enforcement. Digital identity and compliance: verifiable credentials, easier KYC/AML, controlled access. Data integrity and audits: immutable logs for audits and regulatory reporting. Pitfalls to watch: ...