Abstract
With the
introduction of Bitcoin by Nakamoto came a key underlying technology that holds
great disruptive promise to many crucial industries: blockchain. Blockchain is
a decentralized, distributed ledger that has the potential to improve
businesses operations. Based on trust, blockchain allows the parties involved
in a business transaction to transact without the need to know each other.
Blockchain can reduce costs, saves time and reduces business risk. More
institutionalized businesses utilize cryptocurrency as a hedging strategy to
reduce risk. We examine how blockchain works and shows how blockchain’s
attributes can benefit businesses in every industry.
IJBMS by IPRPD is licensed under a Creative Commons Attribution 4.0 International License.