More and more attention is being paid to the important role Blockchain can play in various sectors within the business. The technology became known as the foundation of the Bitcoin and was quickly seen as a potential disruptor for the financial sector. This is due to the innovative way in which Blockchain decentralises supervision, which can displace an important function of the banks. However, the technology has many more possible applications.
In the basis, the Blockchain is a system with which all kinds of data can be recorded.The unique thing about this system is that it is built so that it is virtually impossible to corrupt the data. Once data is added to the chain, it can no longer be modified and each addition is registered by all computers connected to the Blockchain. The transparent and uncorruptable bookkeeping that can be created in this way ensures that Blockchain also has a lot to offer for buyers.
We argue, however, that the Blockchain is not some kind of miracle to solve all kinds of problems.The technology is not so much intended for internal business operations, but for the interaction between multiple parties. This makes the system ideally for the purchasing area. By reading all the information on the Blockchain, it is very simple to verify who - for example - is the supplier, where the goods you want to buy originate from, whether the supplier really owns these goods and whether the buyer can pay the goods. If this kind of data can be trusted and can be traced and validated very quickly, then you can imagine how this technology can turn the world of purchasing and supply chain management upside down.
A proper functioning of the Blockchain - which must primarily be seen as a "design and organisation principle" - depends on the willingness to design an information architecture with each other that is optimal for the whole: from egosystem to ecosystem. If that works, then blockchain may be a suitable technology for building that architecture. If you cannot make the step towards the ecosystem in your mind, then do not expect miracles from Blockchain.
