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Blockchain as a resource; how the technology can bring about a new definition of Enterprise Resource Planning
Technology

Blockchain as a resource; how the technology can bring about a new definition of Enterprise Resource Planning

As blockchain-based applications evolve it is believed that technology’s decentralised and distributed ledger protocol can help with enterprise resource planning (ERP), which refers to the integrated management of main business processes. According to Ultra Consultants, a business management consulting firm, business value addition of blockchain is expected to exceed $176 billion by 2025, and will go past $3.1 trillion by 2030. Insights from Fortune Business Insights, a market research-based company, showed that the global blockchain-as-a-service (BaaS) market size stood at $1.90 billion in 2019 and has been projected to reach $24.94 billion by 2027, at a compound annual growth rate (CAGR) of 39.5%.  “Many companies use ERP systems to streamline their business processes. Blockchain a...