Digital Business & New Technologies: Implications of Blockchain and Challenges for Managers

Digital Business & New
Technologies

Table of Contents
INTRODUCTION.........................................................................................................................3
Blockchain Technology...................................................................................................................3
The significance of digital and new technologies in the dynamical global business environment
and the challenges that they present to the managers......................................................................6
CONCLUSION..............................................................................................................................8
REFERENCES..............................................................................................................................9

INTRODUCTION
The applications of the digital businesses in regards to the reinvention of the business
models and the transformation of the customer’s experiences through the promotion of
ultramodern techniques can be considered to as the influential implications of the advanced
(Bertoli and et. al., 2022) The acceleration of the innovation is possible through the integration of
AI, Robotics, Blockchain, Agile development programs and etc. This case study will focus upon
the explication of one such advancement in the technical dimension, i.e., Blockchain. The
reactive importance, implications and the contemplations will be elucidated in the study. The
significance of these modernized technological advancements in regards to the functioning of the
commercial businesses will also be highlighted furthermore.
MAIN BODY
Blockchain Technology.
This dimension of the modern-day technology can be referred to as the immutable and
shared work of ledger that can help in the facilitation of the recorded form of transactions and the
significant tracking of the assets of the business network. It is thereby a chain of blocks that
comprises of important and epochal information. The nodes of the networks thereby have the
exact form of replica of the entire data base. The assurance of the security of the data is also
taken care by and if anybody tries to steal or delete a particular entry of the ledger, the reflection
of the respective change will not hamper the data and such an entry will get rejected.
The importance of Blockchain is in regards to the traceability and the verification of the
multiple steps of the transactions that take place in the businesses. The reduction of the
compliance costs, provision of security towards the transactions and the speeding up of the
transaction are some of the enumerated benefits of Blockchain (Dana and et. al., 2022). The data
is recorded in a chronological order and cannot be changed thereafter. The implication of this
technology can also be utilized in the management of the titles, voting platforms and commercial
deeds.