Interested in how you can take master data management to the next level with blockchain technology? This is a very interesting topic that we will cover here.
In this article
- Why Should Blockchain Matter Vis-à-Vis Master Data Management (MDM)?
- How Can Blockchain Help Implement Master Data Management Program?
- Important Considerations for Using Blockchain to Power a Master Data Management Solution
- Frequently Asked Questions on Master Data Management
Why Should Blockchain Matter Vis-à-Vis Master Data Management (MDM)?
Why would you consider blockchain as a solution to MDM implementation challenges? Before I answer this question, let‘s quickly understand what blockchain is. This promising technology has the following features:
- It‘s a decentralized, peer-to-peer (P2P) network, and anyone can join a public blockchain network whereas private blockchains allow only trusted parties to join.
- Computers on this network are called ’nodes‘, and each node has a complete transaction history. Since each node is a complete ledger, blockchain is often referred to as the “Distributed Ledger Technology” (DLT). A cybercriminal can‘t shut this network down by taking …