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APO conducts workshop on Blockchain Technologies for Business Innovation and Productivity

22 Dec 2023

The adoption of technologies is paramount for enterprises seeking a competitive advantage. Blockchain technologies have broad applications across various industries, based on key features such as the elimination of intermediaries, enhanced data security, and transparency. The APO Secretariat held an online multicountry workshop on Blockchain Technologies for Business Innovation and Productivity, 20–22 November. The workshop was facilitated by three resource persons from India, I.R. Iran, and the USA who shared insights into blockchain technologies, best practices, and industry case studies.

Blockchain technologies facilitate globalization, streamline business operations across value chains, and reduce overall operational costs. The maturity of blockchain adoption in the financial and banking sector suggests its readiness for broader industry acceptance. Given that the use of blockchain technologies is still in its early stages, there are abundant opportunities for businesses to innovate and enhance productivity for overall growth and profitability. The workshop examined emerging trends in the applications of blockchain technology approaches to foster innovation and productivity at the enterprise level and the implications of technological solutions in various economic sectors.

Among the numerous applications of blockchains, including social security, financial markets, data security, and transparency in addressing and mitigating adverse climate impacts, several are relevant for all APO members. The workshop enabled a better understanding of the adoption of blockchains as productivity tools and techniques. Additionally, it addressed the lack of understanding of the technology and its applicability beyond the financial sector, emphasizing the scarcity of high-quality learning materials on blockchains. It was attended by 41 participants from 13 APO members, including government officials and representatives of industrial associations and enterprises as well as consultants, trainers, and entrepreneurs working on blockchain applications, innovation, and productivity enhancement.

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