LEVERAGING DISRUPTIONS BY BLOCKCHAIN

Abstract

Blockchain technology is slowly making its way from buzz to adoption. Organizations are moving from the experimental/proof-of-concept stage to using the technology for certain business operations, which will likely be followed by more large-scale commercial adaptations as the technology matures and knowledge grows. Business process innovation will be a crucial driver of this transformation, and it is likely to disrupt the way services are delivered in a good way. This process of adopting blockchain is marked by significant collaboration across all value chain actors, in contrast to the conventional approach, in which firms were known to compete with one another - where secrecy was the rule when it came to technology selection, launch plans, and even business strategies. Financial institutions, conventional technology corporations, fintech businesses, as well as regulators and governmental agencies, are all working together. To drive digital transformation of their organizations, companies will need to leverage the correct IT, infrastructure, and tools, as well as subject expertise and cooperation. This research throws light on the use of blockchain technology in different areas. Here I have tried to examine different cases in various domains where the implementation of Blockchain technology can help in reducing costs and increase ROI. These cases come from clients who are facing challenges in their regular work and want convert the challenges into opportunities and be market leaders. This research is to study and analyze various case studies and suggest possible use of Blockchain to bring change and increase customer satisfaction. The research will also help TCS to harness the Blockchain technology and enhance skills of their workforce. Since Blockchain will keep influencing different sectors, it has become very prominent that companies need to bring about changes in their current functioning and channelize their resources to find out ways of using Blockchain technology.