| |February 20208EMERGING BLOCKCHAIN TRENDS FOR 2020 By Anant Kadiyala, Senior Director of Transformational Technologies, Oracle n a typical B2B setting business participants spend significant time and effort for transaction reconciliations, settlements, tracking, compliance, and closing of books. As we transition from the industrial age to the intelligence age, we need mechanisms that enable new models for business coordination, transactions and trust scaling. This is why blockchain is important and relevant in the enterprise space.Enterprise blockchain platforms have matured rapidly in recent years and today they offer many exciting features. Let's explore what 2020 might have in store and how companies might harness these capabilities. 1. Automation of business workflowsStreamlining cross-company workflows for business operations is the top use case for enterprise blockchain today. In 2018 and 2019 companies adopted blockchain for supply chain operations such as product journey tracking, raw material provenance, recall traceability, validating product authenticity, proving compliance, invoice factoring, and trade finance. In 2020 companies will continue to adopt blockchain for use cases where business partners have to coordinate and transact, despite varying degrees of trust relationship among them. Therefore, procurement, contract, warranty, and credentials management are other good targets.2. Privacy Tech Strong security, privacy and confidentiality are essential for business transactions. As technology and business models evolve, and as the pace of business increases, we need better ways to handle the nuances of privacy, confidentiality, and security. Recent developments in cryptography such as zero-knowledge proofs (ZKP), differential privacy, multi-party computation (MPC), IN MY OPINIONAnant Kadiyala is Senior Director of Transformational Technologies at Oracle, where he leads business innovation and enterprise solutions with blockchain, ML/AI, IoT, and VR/AR. IAnant Kadiyala, Senior Director of Transformational Technologies
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