Business on the Blockchain set to grow 80% faster

The Cloud-Computing giant Oracle, says that Blockchain and other emerging technologies give the company a competitive advantage in the area of Finance and supply chain tracking.

According to the recent study of the Cloud-Computing giant Oracle’s companies have a competitive disadvantage when you put on the innovative Blockchain technology. In the study, 700 financial and operations managers and executives interviewed, the benefits for the business planning, performance management and the supply chain figures regular on-site and Cloud-based services.

The results of the Oracle pointed to new technologies such as Blockchain, AI, machine Learning, digital assistants and the Internet of Things (IoT) as a critical technology that must use a company in order to be in the next decade competitive.

It is really exciting to see these technologies become more Mainstream: 84% of companies use at least one of these technologies,

so Emma Hitzke, Senior Director of Product Marketing at Oracle.

Companies that have adopted these technologies, “have increased their annual net profit to 80% faster than companies that don’t invest,” the study of Oracle. Oracle expressly points to the adoption of the booming Software-as-a-Service (SaaS) product market, as a main advantage.

These companies want to find the easy way to access to new technologies“, so most prefer ready-made solutions to buy than to develop their own,

Hitzke said.

The market has taken note of this, since the SaaS and Cloud stocks have achieved in the past year, a historical high. However, many companies underestimate, according to Oracle, these technologies still. The Cloud-Computing company says, this could be a costly mistake, and these companies run the risk of “behind the competition is to fall back”.

Blockchain applications are particularly useful to prevent fraud by observable and immutable Ledger. “That’s the beauty of the Blockchain: You can not understand only, where any transaction takes place, who was part of the transaction, it is for sure – you can’t change it,” said Hitzke.

Oracle shows how a food company, a Certified Origin, the Blockchain, to verify the origin and quality of olive oil, a market where fraud is widespread. In the financial sector, the study shows how the Arab Jordan Investment Bank, Blockchain used to accelerate “cross-border money transfers” and “reduce costs”.

The study says that 83% of organizations that use the Blockchain, “expect within a year a significant value from the use of the Blockchain”. The study results in relation to the actual return on investment in Bitcoin and the Blockchain technology out:

87% of companies that use Blockchain, have not only achieved, but also the ROI exceeded expectations,

Hitzke said.