Use Blockchain to give your business more control
We are creating, storing and sharing more data every day. But while this valuable information is now available at rates we’ve never seen before, mainly spurred on by IoT, it doesn’t come without challenges. Current solutions to managing this wealth of data is by using database and cloud storage capabilities, and while this is convenient, it isn't perfect. Security vulnerabilities, information control loss, complicated authorization processes and difficulties in monetizing information are just a few ways that businesses are struggling.
Simply put, blockchain is a new way to store, access and surface data to make companies more efficient, transparent and ultimately, more profitable.
This capability acts as a new way of securely storing and manipulating data, where digitally produced information can be uploaded, certified and displayed in almost real time, giving complete transparency and validity to the data being produced. Through blockchain, clients can pick who sees what, and when. It also has a digital signature on each piece of data to ensure the information being uploaded to the blockchain is credible and correct.
With more accurate data, new ways to assign access, and identify important information, Wood is using blockchain to help clients’ projects run more efficiently and effectively – whether through a safe system of work, or through setting up Smart Contracts to ensure fewer disputes over production.
We are excited about what we are doing with blockchain technologies, both now and in the future. Working with partners like Microsoft and IBM, we are taking the platforms developed by these tech companies, and are applying our industry knowledge and expertise to work for projects with tailored wants and needs.
With Wood you can be ready for the future, now.
Take control of your procurement process. Talk to our team today!