Frank Xiong, vice president of blockchain development at the popular software company Oracle, said on April 8 at the Forbes CIO Summit in Half Moon Bay, that half of the companies will eventually use crypto's underlying technology in the next 3 years.
He added that more and more people are realizing the true potential of blockchain technology and how it could affect different business models:
"Gone are the days when we used to think that blockchain was the cure for everything. We are becoming more realistic about the true applications of this technology."
According to Forbes, more than 100 Oracle customers have integrated DLT in their supply chains.
At the end of October last year, the technology giant released a suite of blockchain tools based on its Oracle Blockchain Cloud Service. These tools allow the company's customers to take advantage of blockchain technology to increase the transparency of their supply chains, shorten the delivery times of goods and improve customer satisfaction.
Why it is important
- More and more companies are using blockchain technology to improve their supply chains, such as UPS and Samsung, among others.
- Companies from all over the world are integrating blockchain technology in their supply chains since it allows them to improve some very important aspects, such as transparency, speed and privacy.
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