Blockchain Has Grown to Become A Mainstream Buzzword Due to Its Potential

Blockchain Has Grown to Become A Mainstream Buzzword Due to Its Potential

The Indian Blockchain technology market is expected to grow multifold in the coming years as the potential of this technology is immense in days to come. The rapid adoption of this technology by financial institutions contributes as one of the key factors for market growth. People now gaining trust in this next-gen technology owing to its reliability, and capabilities of increasing business efficiency.

Putting across his views on the Blockchain market growth, Sridhar H Hariharasubramanian, Senior Director, Solution Engineering, Salesforce said, “Blockchain - Simply put, A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across an entire network of computer systems. Blockchain is built on open source technology and it facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. Therefore, Blockchain has grown to become a mainstream buzzword due to its potential to build diverse business applications.” 

“The key features of decentralisation, transparency, and immutability are appealing for businesses, as it helps deliver information in a trustworthy manner and eliminates inefficiencies. With many practical applications and use cases such as preventing Supply Chain disruptions, Food safety tracking, Improving patient care, Invoice resolution and dispute resolution, Blockchain is already making a huge impact in the business world," concluded by Mr. Sridhar. 

Salesforce is a well-known brand and a global CRM leader which empowers companies of every size and industry to digitally transform and create a 360° view of their customers. 

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