Enterprise meets DeFi: Organizations work toward adopting blockchain tech
Enterprise DeFi adoption is in development, but a number of challenges must be addressed before it’s ready for the mainstream. Decentralized finance is quickly maturing. While the total value locked in DeFi is over $45 billion, financial institutions and large corporations are starting to implement DeFi concepts to automate business processes. This is known as “enterprise DeFi.”For instance, invoices and other financial products can be tokenized to ensure that transactions are valid and should be processed for payment across multiple parties. Coke One North America is one of the first....
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Enterprise DeFi use could see a rise in 2021, but only if tokenization standards catch on with the mainstream. Decentralized finance has quickly risen to prominence, largely driven by the fact that there is over $11 billion of total value locked in the sector. While it makes sense that DeFi — a space characterized by terms such as "yield farming" and "meme tokens" — has captured the majority of the cryptocurrency sector's attention, the concept is also beginning to catch on within the enterprise world. Stefan Schmidt, chief technology officer of Unibright — an enterprise blockchain....
Enterprise Ethereum has matured to the point where standards are now needed to ensure further growth and interoperability with other networks. Ethereum is quickly becoming an integral part of the enterprise blockchain ecosystem. As more companies begin to leverage public networks for business, it’s important to keep in mind that the enterprise Ethereum space is still relatively new. Therefore, a number of developments are required before organizations can fully take advantage of the Ethereum blockchain. For example, Dan Burnett, executive director of the Enterprise Ethereum Alliance — an....
A new collaboration this week between R3 and IBM is raising eyebrows in the world of enterprise blockchain.
Though blockchain-enabled consortia became the modus operandi for enterprises, today, they are in a different Web3-infused landscape and it’s vital that they adjust well. Now that the initial hype surrounding blockchain applications and the prolonged blockchain “winter” that followed are left behind, we now find ourselves in the middle of a “spring” that is helping organizations reimagine how they deliver value. So much so that blockchain is expected to add $1.76 trillion to the global economy by 2030, according to PWC. A significant chunk of this uptick is expected to come from....
With so much R&D ongoing in the blockchain sector, it's hard for any new tech to separate from the pack. In addition to the sheer volume of designs for these new types of financial databases, separating the interesting ideas often requires ample peer review, testing and time. Still, this messy process hasn't stopped tech giants like IBM and JP Morgan from conducting work that rivals the more well-known open-source creations like bitcoin and ethereum in aim and ambition. While these contributions are grabbing headlines, however, praise across both open-source and enterprise communities....