Growth Of Blockchain Technology

By Author: Brilliant infosys
Total Articles: 29
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It seems like every few years or so, the latest and greatest technology appears, and all of a sudden, everyone is speaks it’s going to replace EDI. Years ago, it was XML. A few years back, it was APIs. Now? that is Blockchain
The reality of the matter, however, is that while Blockchain is effective for any certain processes, it will not change all B2B transactional technology. If anything, Blockchain technology will only stand to augment existing EDI systems and work with them
Blockchain does offer an effective way for trading partners to communicate with one another, and the risk in potential is minimum Blockchain is also still relatively new, and there is no denying its potential once fully realized. Blockchain is a shared ledger, so it can ease the process by which information is shared between a buyer, seller, and a third-party logistics supplier. But it’s not going to replace EDI.
increased amount of visibility between three parties that only makes EDI a more powerful technology increased amount of visibility between three parties that only makes EDI a more powerful technology
There’s no denying that Blockchain is on the bleeding edge. However, little more than a decade ago, Forrester estimated that daily EDI volume worldwide fell in the neighbourhood of 20 million Commercial transactions. The firm further recognized that EDI and XML accounted for approximately around 88%-95% of all B2B transactional volume.. While these numbers have inevitably shifted, and while Blockchain represents a the fact is that EDI Is every business ingrained in transacting, EDI system is use to work across the business day to day activity perform , also to everyday business process across every industry, making EDI a natural fit as a component in any B2B integration technology stack.