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Different Industries that Use Blockchain Technology
The financial industry is one of the sectors that have greatly benefitted from the use of blockchain technology. This is because of the vast sums of money and transactions that are in play in the industry. Here are a couple of examples of the different companies that are utilizing blockchain technology today.
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• Crowdlending
Crowdlending campaigns have started to take over the act of having to go to the bank to get a loan. Crowdlending is a person to person lending company. Today, there are, on average, more than 50 billion person to person loans being made worldwide. This industry will likely feel an enormous boost with the use of blockchain technology.
• IBM Global Financing Unit
IBM has become one of the major players in blockchain technology use, with a proven track record of being a great asset for tracing transactions. IBM’s Global Financing Unit processes $2.9 million in payables for the company every year. It is also responsible for granting credit to more than four thousand suppliers. IBM has been successful in lowering dispute settlements by 25 percent, thanks in part to
