Blockchain - for the journey
Like it or not, scared of it or not, Blockchain technology is here to stay. I commented recently about the vast numbers of folk writing about it regardless of their knowledge levels or as is becoming more apparent, conflicts of interest!
Medium.com is a platform for bloggers and one blog caught my eye from April, the heading was somewhat controversial and the content, all 11 minutes worth, was damming. As always I look up the authors of all relevant pieces online as it is a breeding place for those hell bent on spreading the FUD - the fear, uncertainty and doubt. It was of no great surprise that the author was a US based financial adviser pedalling a form of secure payment card and in this writers opinion has much to lose as Blockchain evolves.
In Paris last week the OECD Blockchain Policy Forum took place; representatives from 70 different countries attended from both private and public sectors. The agenda included Blockchains potential global economic impact, its power to enhance inclusiveness, its ability to promote green growth and sustainability and of course - to help the public sector, how it can strengthen governance and enforcement practice.
in this the week of the 10th anniversary of The Lehman Brothers collapse - still the largest bankruptcy in US history with Lehman holding over $600,000,000,000 in assets - coinciding with the creation of the world's first commercial Blockchain launch it is an appropriate time to talk about where we are with this relatively new technology.
in the coming days and weeks I will explore all facets, the good and the potential bad, as well as giving details of how it is being used around the world and how, whether we like it or not, it will affect us and change our lives. The way we do business. The way we shop, how we adopt a far safer currency and avoid the problems befalling our banking system on a far too regular basis.
i'll close today with this; today the Information Commissioner's Office issued Equifax with a £500,000 fine for its failure to protect the personal data of 15m UK citizens last year. Overall more than 146m people worldwide had their addresses, dates of birth, passport details etc stolen.
Cyber crime is one of the greatest threats we face in this 18th year of the new millennium and unchecked could lead to an outcome no one wants to think about. Blockchain can store value securely and without the risk of cyber attack.
The journey starts...