Blockchain technology enables an ‘ecosystem’ in which contracts are embedded in digital code and stored in transparent, shared databases (ledgers), where they are protected from deletion, tampering, and revision. In this framework every agreement, process, task, and every transaction would have a digital record and signature that could be identified, validated, stored, and distributed. Intermediaries might no longer be required. Individuals, organizations, machines, and algorithms would transact with one another freely. This is the great potential of Blockchain technology.
Blockchain technology is on the cusp of gaining critical mass, and every organization involved in disseminating services linked to a Blockchain offering, must increase their capability to stay a participant in this new revolutionary world of crypto. A typical stock transaction can be executed within microseconds, often without the requirement for human intervention. Clearing and settlement, however, can take up to a week. That is where the ability for multiple parties to access shared and distributed ledgers, with the immutable ccharacteristics of the blockchain, with all the parties involved, and allow for the automated verification that the assets are in fact owned and can be transferred, makes the most impact.
We are about to overcome the dimension of ‘novelty’, where a high degree of effort is required to to explain the use cases for Blockchain technology, and we are now gearing up for the dimension of complexity, where the decision making role understands the chanllenges and engages solution providers with innovative working concepts and prototypes.
Ixonn is seeking to rapidly expand it technology incubation capabilities, to transform Blockchain adoption business chanllenges into industry ready products, that can be easily integrated and adapted to fintech, medtech, greentech and cyber security vertical segments. Ixonn’s core technologies will be available in a combiantion of four categories: (a) Single-use – immediate value with low volume of transactions, increse in value with increase transactions; (b) Segment-specific – value gained by the addition of participants, with common goals, transacting with one another on private Blockchain segments; (c) Replacement-technology – builds upon existing single-use technology applications, largely provided on public distributed ledgers, greatest potential for immediate adoption; and (d) Transformative – highly innovative, aims to change the way certain business transactions are currently done, provides for a remodel of the execution of business interactions with the aim, to reduce complexity, increase automation and integration, all at a fraction of the cost (per transaction) of existing applications.
There is a strong possibility that your business is already being affected by the Blockchain technology available to your business partners and competition. Ixonn will commence publishing of a new ‘Blockchain Index’ as an attempt to educate its ow processes to better engage its clients and built high-value enabling technology platforms.