Blockchain: 2018 Disruptor of the Year

Blockchain: The 2018 Disruptor of the Year

The implications of blockchain technology are far reaching, with the potential to change many aspects of business across a variety of sectors.

Procurement departments are poised to benefit from many
of the advantages blockchain technology brings, such as cost savings, greater data transparency and shorter lead times.

What that also means, and what comes with every ground-breaking technology, is that many markets are put at risk of being displaced.

Overall, blockchain technology and its effect on different sectors is still in its infancy.

However, the blockchain industry is growing exponentially. While many decades-old companies race to implement the technology in their own operations, blockchain start-ups in every industry are also working to dislodge them.

2018 will be one of the first real tests to see how legacy businesses hold up against their native blockchain challengers.

Without a doubt, the landscape of many markets will change over the next few years, including healthcare, advertising and even social media.

Regardless of the price of bitcoin, blockchain technology is here to stay, and which businesses are left standing will likely come down to how well companies are able to adapt.

Procurement departments that are able to implement blockchain in their own processes and are actively seeking out vendors utilizing the technology will be able to reap the revolutionary benefits.

Full article here:

http://www.industryweek.com/supply-chain/blockchain-2018-disruptor-year