This KPMG report outlines what COOs, CFOs, CIOs, CISOs, and other Technology, Media, and Telecommunications (TMT) company leaders should understand about blockchain. This includes use cases, potential benefits, KPMG survey data, and next steps for company leaders to consider.
Blockchain has long been discussed as an upcoming disruptive technology. Unlike traditional centralised systems, blockchain allows for a distributed database that holds a growing number of records. The ledger is continually updated and synchronised across multiple computers in a network. Any participant in the network with the proper authorisation can view the entire ledger—without relying on an intermediary.
In KPMG’s 2019 Technology Industry Innovation Survey, 41 percent of technology business leaders said it’s likely their company will implement blockchain technology in the next three years.
Here are some steps that company executives can consider as they start to explore blockchain technology: