According to a Bitkom study, for the first time, the key technology blockchain is one of the ten most important trend topics in the digital industry in Bitkom’s annual trend survey for 2018. Truly an exciting subject.
The blockchain – a promising future?
26 percent of the surveyed representatives from the IT and telecommunications industry considered the subject “blockchain” to be very important in the near future. Just last year, only eleven percent held that view. What makes blockchain technology so interesting – especially for the ECM industry?
To make it short, the blockchain provides means and methods to process transactions securely without a central trusted authority. That is its area of application and its origin. The technology became well-known thanks to the cryptocurrency bitcoin, where it is used for the cryptographic verification of transactions. But after a closer appraisal, it became clear that much more is possible with this technology.
While today the blockchain already securely handles financial transactions, in the future it will, “for example, certify documents without a notary, securely carry out contracts as smart contracts, or transparently depict the complete delivery chain of a product” according to Bitkom president Achim Berg.
Possible use in the ECM industry
Trust without a central trusted authority and verifiable integrity of data, that is the central statement which could be particularly interesting for the ECM industry. The key word is “revision security” of documents. What the future will bring here remains to be seen, and will be exciting. Companies are already experimenting today with different ideas for blockchains. For example, IBM with Project Fabric, which offers other companies a toolchain for creating their own blockchain to fit their respective business models. Or the Coco Framework from Microsoft, with the same goal – blockchains should find their way into companies, and their use is at least being tested there in logistics, commerce, and finance. So there is much to look forward to with anticipation.