Industrial Engineering have to have monitor technology environment to spot new technologies that have productivity improvement potential and take steps to adopt those technologies in their organization processes.
Productivity potential of new technologies are to be assessed qualitatively in early days and then quantitatively as pilot implementations and use cases take place.
Often, productivity and security are seen as conflicting demands in business. But blockchain technology offers the potential to improve both. And now is the time for miners to see how it can work for them.
Blockchain: what does the future hold for blockchain in Australia?
Our study explores how blockchain technology could be used across government and industry in Australia to deliver productivity benefits and drive local innovation.
Funded under the National Innovation and Science Agenda, we have delivered two reports that examine the risks and opportunities of blockchain technology in Australia.
We identified the following benefits for businesses.
Since they remove the need for a third party, blockchains can reduce the number of stakeholders involved in a transaction therefore reducing cost and saving time. Blockchains can also enable better information sharing and better business processes, giving stakeholders more confidence and reducing cost and risk.
Using distributed leders, many kinds of business transactions can be decentralised, eliminating the cost, complexity, and slowness of involving trusted intermediaries. Smart contracts provide new ways to automate complex, multi-party business transactions which reduce costs and increase the velocity of business.
Productivity In Society & The Blockchain
How and how much the blockchain can help improve productivity of our companies, governments, and society at large
The Winning Blockchain Pattern For 21st Century Productivity
December 30, 2015