To start a new section, hold down the apple+shift keys and click to release this object and type the section title in the box below. Figure 3. Value of a blockchain Single organisation Collaborating organisations Characteristic Consumer blockchain blockchain on a blockchain • Increases speed of exchange • Increases speed of exchange • Increases speed of exchange, and reduces time delays between departments/ which reduces baclog and Decentralised • Reduces price of exchange divisions, which reduces overall costs processing network (if a fee is charged) baclog and overall costs • Improves availability, reliability • Improves quality, reliability and • Improves availability, reliability and maintainability of services availability of services and maintainability of services • Increases transparency (in the • Increases efficiency by • Increases efficiency by case of public blocchains) standardising data formats standardising data formats • Increases confidence across departments/divisions across multiple organisations, and ensures process integrity enabling interoperability, and • Improves auditability because ensures process integrity Distributed ledger records are verified in near • Reduces ris of fraud, error realtime and invalid transactions across the group because records cannot be altered • Improves auditability because records are verified in near realtime • Reduces ris of fraud or theft • elps identify customers and • elps identify customers Digital signatures participating departments/ and participating organisations divisions • nables transaction criteria • nables new capabilities to be • nables new capabilities to be to be strictly enforced added to existing services and added to existing services and Programmable logic processes processes across the group • nables collaboration criteria to be strictly enforced • ublic blocchain enables • rivate blocchain restricts • rivate blocchain restricts anyone to participate in any processing to members or participation to members of Private vs. public capacity employees of the organisation the group of organisations but but opens up use to opens up use to consumers consumers ource­ €eloitte There are considerable opportunities for organisations that adopt blockchain technology internally, using bespoke blockchains or so-called ‘side-chains’, which provide some interoperability with public blockchains, like Bitcoin, while 30 adding new functionality. Perhaps the most significant opportunity, though, comes from blockchains that link currently disparate parts of one enterprise together or even many different organisations from within the same sector. Blockchain Enigma. Paradox. Opportunity 9