Blockchain is not a zero-sum game and its implementation across various sectors is going to be an overall positive for businesses, German software company SAP‘s chief strategy officer said Wednesday.
Deepak Krishnamurthy spoke to CNBC on the sidelines of the World Economic Forum’s annual June meeting in Dalian, where he said blockchain will complement SAP’s supply chain business.
“We believe blockchain will complement our supply chain. We have the largest supply chain product in the enterprise software industry, so having blockchain supply chains connect with SAP supply chains is going to be value-creating for our customers,” he said.
Blockchain is a term for a distributed digital ledger that can record and store transactions securely on a peer-to-peer network. It eliminates the need for middlemen, which industry stakeholders say can potentiallyspeed up processes and make them cheaper. It is also the technology that underpins cryptocurrencies such as bitcoin and Ethereum.
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