I’ve been writing a lot about blockchain technology lately.
I don’t know if that’s a coincidence or not. It could just be that many breakthroughs in blockchain technology are entering the fray and so it’s more on my radar than it has been in the past. It could be because cryptocurrency helped to push blockchain into the mainstream. Perhaps it’s just that more people are clicking on blockchain articles so more news outlets are covering it to catch the clicks.
I know why I’m writing about it and it’s a combination of the three. I learned about blockchain when most other people did – as the technology behind cryptocurrency. When I started to look further into the technology I learned that hundreds of patents for blockchain have been filed from all kinds of companies – most notably tech giants including IBM, Microsoft, Amazon, and more. I started writing about it because I wanted my audience to be aware of it as well.
I’ve also spoken to experts about the new technology. Most recently, I sat down for a podcast interview with Carl Lehmann of 451 Research. 451 has been doing a ton of studies on blockchain and how it will affect every aspect of the IT stack, so Carl was an informative guest. He explained how blockchain will be introduced into supply chains first, and will give businesses a competitive advantage in that regard. It’s a great listen, so check it out.
After everything I’ve looked into, in my humble opinion, blockchain will be the next great disruptor. I’m talking about smart phone levels of changing the way business is done. It won’t be as flashy because it isn’t an entertainment technology like smartphones are. However, it will be just as impactful.
In the future every company will run their processes on a blockchain. Every individual will pay for services on a blockchain. The government will eventually use a blockchain from everything for voting to receiving and distributing tax money.
Why? Because blockchain makes bookkeeping for tracking instantaneous. It renders obsolete any other program, software, or human that would be keeping a ledger for companies. It does away with the need for duplicate ledgers – two entities entering into a contract will do so in the same decentralized blockchain and as a result things will move much faster. Finally, blockchain will allow us to keep track of everything – as granular as each stop a piece of chicken made from the day it hatched until it was served on our plate at a local restaurant.
I look forward to the future of blockchain, and you should to. It’s going to change the world in the most impressive way – by making things more efficient.