enterprise-blockchain

Vocabulary Word

Definition

'Enterprise-Blockchain' is a shared record book. Like when a group of friends has a shared notebook. But instead of friends, it's businesses and instead of secrets, they put in transaction details that can't be changed later.

Examples in Different Contexts

In financial services, 'enterprise blockchain' is used to streamline processes, reduce fraud, and improve transparency in transactions. A financial analyst might explain, 'Enterprise blockchain has the potential to revolutionize cross-border payments by reducing transaction times and costs.'

Practice Scenarios

Finance

Scenario:

Our financial transactions could be more efficient and secure. Are there any innovative solutions you can think of?

Response:

Adopting Enterprise-Blockchain technology could expedite our transactions and make them more secure.

Supply-Chain

Scenario:

We are struggling with our product tracking, particularly from sourcing to delivery stage. Can we leverage technology to improve this?

Response:

To improve product tracking, Enterprise-Blockchain technology can give us the level of visibility we need from sourcing to delivery.