HYPE OR HELP? The real benefits of blockchain/DLT
The new study by prestigious Swiss think tank and research company GDI Gottlieb Duttweiler Institute illustrates the concrete advantages of blockchain for companies.
aXedras is honored to have been chosen as the real-world example of supply chain traceability and product integrity of gold. Its expertise in deploying distributed ledger technology in a sophisticated B2B environment has greatly contributed to the report's status as a valuable resource for businesses.
The study highlights aXedras' outstanding application of a standalone software firm (fintech) in revolutionizing the precious metal industry with digital advancements. By fostering trust through transparency throughout the global value chain of precious metals, the company provides immutable records from origin to end-user, ensuring product integrity and ESG conformity.
Please refer to pages 22 and 27 in the report:
Urs Röösli, CEO at aXedras, adds: “Distributed ledger technology allowed us to increase transparency and B2B efficiency in the global value chain of gold while maintaining data and transaction sovereignty of business partners.”
The study is available for free in English and German: www.gdi.ch/blockchain
In Brief
Blockchain is much more than bitcoin, and it offers benefits for many industries. Since its introduction in 2009, the technology has been continuously developed. Still, discussions about blockchain often revolve around cryptocurrencies and, from 2021, also around so-called non-fungible tokens (NFT). The result: The confusion surrounding blockchain and its potential is great.
This study drills down to blockchain‘s benefits in the real economy. Opportunities and challenges are illustrated using three concrete examples:
Self-sovereign (electronic) identities to securely identify people, organizations, and objects in the digital space
Product tracking to increase product safety and transparency along supply chain
Consolidation of sensitive health data to improve the quality of diagnosis and therapy without compromising data security
Ultimately, blockchain offers a technical basis to securely digitize and automate business processes, collaborate efficiently, and create more robust digital infrastructures. Once achieved, new business areas can open up. Leaders must detach themselves from hype and sweeping criticism to realize this potential. This study aims to be a starting point to do so.
Authors: Dr. Daniel Fasnacht, Kathrin Wolff Schmandt, Urs Röösli, Jan Bieser,
Partners: aXedras, Blockchain Nation Switzerland, Swiss Federal Office of Energy, EcosystemPartners, Generali (House of Insuretech Switzerland HITS), Green, Inacta, Kantonsspital Baden, Novartis, OVD Kinegram, sminds/N9 House of Innovation, Association of Swiss Electricity Companies VSE