While other Enterprises are building blockchain products for their company, AT&T has developed a blockchain solution to automate processes. This solution can be used by other enterprises in the supply chain, manufacturing, retail, healthcare, and others.
Quoting various security problems, the company stated that the blockchain-as-a-service(BaaS) platform is one stop solution in meeting clients demand and also maintaining transparency in business.
Furthermore, the blog also explained that the combined platform of IBM Blockchain, Microsoft Azure and along with the AT&T’s IoT tools will make it enabling tech for strong automation and monitoring capabilities.
The core benefits of this blockchain solutions lie in the fact that, it will help in tracking the provenance and movement of goods for manufacturers, in allowing healthcare providers to share patient data while maintaining privacy and helping retailers manage stock and track deliveries
Highlighting the importance of evolving tech, the vice president, Alliances Business Development, AT&T Business, Andy Daudelin stated that,
“Blockchain is far more than just Bitcoin or cryptocurrency. It’s transforming the way many companies conduct business,”
He also added that,
“Blockchain improves security and enables better management of transactions through complex processes. Utilizing our global network and IoT capabilities, AT&T enhances blockchain by providing edge-to-edge solutions that automate the tracking and that can even monitor the environmental conditions throughout the process.”
Despite the varying price chart of major cryptocurrencies, the underpinning technology blockchain continues to reshape the global economy in the coming decades. Essentially industries like finance, supply chain, telecom, banking are all planning to reform the technology with blockchain based solutions. It comes as no surprise that AT&T being a major player in the telecom sector to move in the same direction.