Blockchain & Bitcoin : Technology Advantages?
This is a good question, as the world goes through a digital revolution!
As explained yesterday…
Although many still worry about regulation, security and centralization of the blockchain technology and in turn bitcoin, the current advantages outweigh those worries. As experts address these concerns and work to resolve them, procurement will be poised to adopt the technology-based currency. For procurement that would speed every invoice timeline and allow corporations to expand their business with very few limits.
Particularly blockchain is what The Economist says will “come with a programming language that allows users to write more sophisticated smart contracts, thus creating invoices that pay themselves when a shipment arrives or share certificates which automatically send their owners dividends if profits reach a certain level.” Those developments and capabilities could truly transform procurement to be an even further streamlined and modern industry.
The ability to immediately verify and complete a transaction takes the simplicity of a technology-driven industry to a new level. Mobile procurement is already at a place where specialists can complete an order from anywhere, but to include the added element of instant global payment would accelerate the process to an unprecedented pace. It’s only a matter of time before we see companies of all sizes take on bitcoin as part of their procurement activities.
Ditigal Transformation is up in the air…
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Global Procurement Tech Summit 2016 : Takeaways!