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With technological innovation accelerating on a rapid scale , an increasing number of companies are beginning to introduce blockchain into their operations in a bid to counteract cyberattacks .
Blockchain is a relatively new technology . Having only existed for just over a decade , it has become a popular component of how companies keep their data encrypted and secure . At its core , blockchain is a chain of blocks , however , instead of a physical chain , there ’ s digital information ( the block ) stored in a public database ( the chain ). Jorg Junghanns , Vice President Europe , Digital Supply Chain of Capgemini , believes it ’ s important to first establish a clear blockchain strategy instead of implementing it with no direction . “ There are several key questions to ask when setting up a blockchain approach ,” affirms Junghanns . “ What do you want to use it for ? Is it the right thing ? In what ways are you using blockchain ? From there , you can critically assess if blockchain is the right choice .” Having spent 17 years at Accenture , Junghanns has the experience and pedigree to lead Capgemeni ’ s blockchain strategy . “ Both companies operate a similar business model so it wasn ’ t a major difference ,” he states . “ At Accenture ,
DECEMBER 2019