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Laxman Pai, Opalesque Asia: US chip maker Intel and German software multinational company SAP have announced that they are partnering to address "gaps in the market" for solutions that support enterprise blockchain systems.
A press note from Intel said that the joint development efforts are geared toward creating superior blockchain technologies and integrating them with new and existing business applications so customers can more easily take full advantage of blockchain's benefits.
The companies will expand their 25-year collaboration to also work together with blockchain technologies and to spearhead the creation of new global blockchain industry consortium.
"What advantages do blockchains offer businesses? Enterprise blockchains create a mechanism for reevaluating and speeding up existing business processes, particularly across corporate boundaries, by reducing process steps and providing greater transaction consistency," it said.
Blockchain technologies distribute data across a shared network of computers, functioning as a distributed ledger. By eliminating the need for a central authority, blockchain technology simplifies electronic payments, mitigates transaction risk, and increases efficiency.
Making use of the blockchain technology in the enterprise is a further step towards decentralizing business applications for greater flexibility, transparency, and scalability in the hyper-connected economy.
SAP, Intel, and other industry leaders ...................... To view our full article Click here
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