Cross-firm utility describes the practical application or benefit of a technology or service across multiple distinct organizations or businesses. In the context of blockchain, it refers to the ability of a distributed ledger system or digital asset to provide value and function seamlessly for various entities. This interoperability and shared functionality allow for standardized processes and data exchange among participants. It reduces friction and improves efficiency within an industry.
Context
Achieving cross-firm utility is a primary objective for many enterprise blockchain solutions, aiming to replace siloed systems with shared, transparent infrastructure. News often reports on consortiums and pilot programs testing blockchain applications that span multiple organizations. The challenges include establishing common standards, ensuring data privacy among competitors, and achieving broad industry consensus for adoption.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
