Many UK businesses aren’t making the most of the security and trust advantages brought by blockchain technology according to Applied Blockchain, one of the UK’s leading developers of distributed ledger technology and smart contract specialists, with over 20 startup and enterprise clients including Shell, who recently invested in the company.
“A lot of companies are trying to shoehorn blockchain into existing models and, as a result, it is not being utilised effectively, nor does it maximise the advantages that the technology can bring. Instead, enterprises should be looking at blockchain technology as a structural industry step-change – and reshaping their current business models around it. Businesses most-accommodating of the technology, and most-willing to adapt to it, will provide their customers with the most efficiencies, and they will therefore see the greatest long-term benefit,” said Adi Ben-Ari, Founder and CEO at Applied Blockchain.
In May this year, Applied Blockchain launched Fern, a smart contract protocol for decentralising private blockchain networks.
“Blockchain is all about increasing security and trust for end users, and, understandably, enterprises are nervous about taking such an evolutionary step in decentralising assets and processes,” said Adi Ben-Ari.