Here’s our guide on how corporations can use startups to innovate faster. Bitcoin’s existence as a decentralized digital currency is made possible by what’s known as blockchain technology, essentially a public ledger that securely and automatically verifies and records a high volume of transactions digitally. Here are a few of the ways that companies — both large and small are trying to harness the power of the blockchain. 1. Banking Banks essentially serve as secure storehouses and transfer hubs for value, and blockchain — as a digitized, secure, and tamper-proof ledger — can address the same function. Indeed, Swiss bank UBS and the UK-based Barclays are both experimenting with it as a way to expedite back office functions and settlement. Some in the banking industry even say it could cut up to $20 billion in middle-man costs.

https://www.cbinsights.com/blog/industries-disrupted-blockchain/