Blockchain has an endless list of possible applications, and is quickly emerging as one of the major innovations in the digital technology industry. Supply chain management experts are already looking at practical applications for blockchain. Given that UK online sales alone are expected to grow by up to £77bn every year until 2021, they can see blockchain is poised to completely disrupt the logistics industry.
In May 2017, Deloitte tweeted that 10% of global GDP would be built on top of blockchain applications. Andreas Freund, Ph.D., a senior manager for Tata Consultancy Services’ blockchain advisory, also predicts blockchain technology will be as revolutionary as the Internet, changing our marketplaces and our enterprises in ways that are hard to imagine right now. These ambitious claims are due to the innovative nature of blockchain and the potential it has to change the way we do business.