A chain, that will change the world... forever!
What if I can use my favourite messaging app to send and receive money the way I send and receive images? What if this messaging app never ever stores my data on some server somewhere? What if I can go to any hospital, and pull my health information even if it is my first visit? What if I am the only one who can authorize access to this information? What if I can sell my property without the need for a land department and their hefty royalties? What if my kids’ educational record is available to any entity I choose to share it with? What if legal contracts are securely signed and stamped, and made available with a tap when needed without a third party?
Imagine if all of the above and more can be available publically on the Internet, yet extremely secured, impossible to hack, impossible to be tampered with, guaranteed 100% availability, recognized and approved by all parties, legally authenticated, permanently time stamped and access is only authorised by the owner.
Have you realized that in almost every aspect of your daily life, there has to be an intermediary entity, an authority, which gives the thumbs up for the transaction you are conducting, and charges for it? If you buy from a merchant, the bank has to authorize the monetary transaction. If you want to sell your car, the transport authority must interfere. If you buy a property, the land department must sit in between. So many intermediaries to almost all transactions that can possibly take place in our lives. And we are asked to blindly trust those intermediaries, and “pay them for protection” services!
Think with me for a second, have you ever wondered who owns the Internet? I am not talking about the wall socket you connect your wireless router to at home, I am talking about the whole Internet. Have you realized that almost everywhere you go, you will most probably find access to free Internet? And by the way, you will need to make over 3.6 billion people on the planet cooperate with you to bring the Internet down. What would it be like if all transactions were based on an automated unbiased platform that can never be brought down, and available to all, much like the Internet? Banks, hospitals, schools, universities, governments, utility providers, grocery shops, retailers, traffic departments, public transportation and many others could use such an upgrade.
Any technology that can really achieve that, is a miracle which will change the way human beings live everyday. But does it really exist? I will say it only once, enter “blockchain”.
Unless you are a software developer, or a technology fanatic, you probably will not hear this term often anytime soon. It will enable products and services -or create new ones- that you will use, without you knowing -or bothering- about what technology lies behind.
A friend of mine once told me to stop limiting my mind in asking “What problem should I be solving?”, and instead try to create opportunities and apply capabilities, that is what creates breakthrough innovations.
If Smart Cities are the door to the future, then blockchain is the key. There, I said it again.
For consulting, advisory or just casual discussion on how this technology can be utilized strategically in your business, reach out to us, we will be happy to help.
