Do you know what???? Finance teams are now using blockchain apps for their huge advantage – and also thinking through how divided ledger software applications can bring real value to an increasingly huge array of functional areas. But before moving ahead with the blockchain, finance leaders need to assess their companies' readiness, assess the risks involved and precisely define the opportunities for value creation.
Someone in my friendz recently participated in the CFO Magazine webcast. A Finance Leader's Guide to to him about Blockchain. Along with my co-panelists, we covered the most significant developments in blockchain,there are specific ways to prepare for it, and what the future of blockchain will look like for companies. Most importantly, we began simply by defining blockchain. While blockchain is often attached with cryptocurrencies, understanding precisely what it is, how it can include value and how it works eludes even the most sophisticated business leaders. An informal survey taken during the webcast showed the overwhelming majority (37.1 % disagreed and 29.3 % strongly disagreed) with the statement, "My finance team has a clear understanding about how to use blockchain for the purpose of my company's advantage." Only 1.7% of respondents agreed.
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