Blockchain Technology for Business: A Lenovo Point of ViewPositioning Information
Billions of transactions of all types take place every day. These transactions must be secure, verifiable, fast, and efficient, and every stage of a transaction requires a level of trust. Yet, these requirements are not always achieved. Invoices can get lost or delayed, Web sites can be hacked, fraud can be committed, and there often is too much manual intervention and a lack of transparency among all parties.
Blockchain technology promises to improve many aspects of how organizations conduct business. Blockchains have been used for nearly a decade as the underlying foundation of cryptocurrencies and more recently in medical, cybersecurity, music, farming, shipping, and other industries.
This paper describes how some companies are using blockchain today to streamline their supply chains, improve royalty tracking, make food safer, and more. It also describes other potential use cases.
The target audience for this high-level overview is anyone considering implementing blockchain technology, and anyone looking to improve their organization’s transaction processes. The reader should have some familiarity with the problems and limitations afflicting their current business processes.
Table of Contents
Business and Blockchain
What is a Blockchain?
How is Blockchain used today?
How Lenovo uses Blockchain for Supply Chain
The Future of Blockchain
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