Article: Blockchain and why it’s impossible for managers to ignore Written by KK Lim FCMI Tuesday 22 March 2022 Share Share to LinkedIn Share to Facebook Share via email Cutting costs, boosting reliability and transforming data storage… blockchain promises to make commercial processes much leaner. Here’s how it could transform your organisation Managers are valued not only for being able to sustain their company, but also for looking in the rear-view mirror to see who’s catching up. To survive and compete, managers need to understand the fundamentals of the latest technologies without being dazzled or scared by them. One such emerging technology is blockchain. And, to avoid being overtaken by competitors, an understanding of this innovative technology is crucial. Let’s take a look at what blockchain is, what advantages it offers businesses, and how you as a manager can use it. What is blockchain? In short, a blockchain is a decentralised online database where information is recorded in such a way that it is almost impossible to copy or modify without permission. More specifically, each action – or transaction – is securely created in the database (otherwise known as the ledger) by a mathematical algorithm. It’s then recorded and distributed across the network. That makes it impossible to change something without the tampering being obvious. Keep reading to discover how blockchain could transform your business Login or register below for Free Instant Access Login If you are already registered as a CMI Friend, Subscriber or Member, just login to view this article. Confirm your registration Login below to confirm your details and access this article. Sign in with email Email remember me remember Forget? Please confirm that you want to switch off the "Sign in with email" remember me feature. Yes No Register for Free Access Not yet a Member, Subscriber or Friend? Register as a CMI Friend for free, and get access to this and many other exclusive resources, as well as weekly updates straight to your inbox. You have successfully registered As a CMI Friend, you now have access to whole range of CMI Friendship benefits. Please login to the left to confirm your registration and access the article. Article Our extensive range of articles are designed to keep you in the loop with all the latest management and leadership best practice, research and news. Members See More CMI Members have access to thousands of online learning and CPD resources. Learn more about our membership benefits Join The Community CMI offers a variety of flexible membership solutions, tailored to your needs. Find out more and get involved in the CMI community today.
