Introduction
Blockchain technology has penetrated deep into several industries in recent years, particularly the banking and financial sectors. As the key advantages of blockchain technology are enhanced safety, accountability and transparency, it quickly replaces traditional business models.
Well, companies are still experimenting with blockchain, and impressive results have been achieved in the first stage of its application. According to Forbes, the technology is being explored by around 90% of European and North American banks. Today, security and transparency are two of the key priorities of every organization.
The organizational system in any company is gaining a boost by adopting blockchain technology. Well, you may view the scenario as disrupting the traditional company configuration, but in fact, blockchain has tremendous potential for a vast array of industries.
With the advent of blockchain technology, let's look at the evolving framework of business models.