On the evening of February 28, the fourth lesson of Babbitt Industry Orientation Class continued. In the live broadcast, Xu Yutao, chief innovation consultant of Microsoft's Omni-channel Business Unit, said that blockchain is a secure shared distributed ledger. However, blockchain is not a new technology, but a combination of a series of existing technologies, and also the integration of the underlying technology and real business applications.
For some specific scenarios of enterprises, blockchain is very valuable. These scenarios include business processes that cross trust boundaries, multiple parties processing the same data, middlemen controlling a single source of credit, and processes that include low-value, manual verification. In manufacturing, retail, insurance, banking capital markets, government public areas, and large health industries, blockchain has huge application potential.