Popular use cases that have emerged in recent years include blockchain’s potential to securely transmit remittance data along with payments in cross-border B2B transactions, enable companies to use smart contracts to enforce business agreements in B2B trade and mitigate the risk of fraud in supply chain transactions. Lopez noted that, as a result, many of the proprietary blockchain solutions that companies create are too brittle to scale up for use with participants.
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Furthermore, as more participants join a project, new challenges emerge: The ability for a solution to integrate with the legacy back-office systems and data sources across a range of companies can be a huge hurdle, according to Lopez. Lopez said having a company like Kaleido step in to guide businesses along the way can support product development and deployment without compromising the decentralized nature of blockchain technology.