When it comes to the wide scale adoption Blockchain, it’s no longer a question of “if,” or even “when,” this will happen, it’s a matter of “how”.
How rapidly will the transformation occur? How will it impact me, my business, my life? How will it change current practices? How will I make use of Blockchain?
Eventually, everyone and everything will have to reckon with Blockchain.
How can I be so sure?
It’s pretty simple. Zuckerberg testified to Congress about his company’s unethical use of users’ private data for political analysis. Equifax (which stores all of our sensitive financial information, whether we like it or not) let our information “slip” into the hands of hackers. Under Armour had a hack of health data accessed through their FitPro APP — 150 million users accounts were breached, although they managed to keep this pretty quiet. And let’s not forget about Target credit cards.
Tesla’s unfortunate event with self-driving cars crashing shows what hacking could do to innovations such as self-driving vehicles. While this wasn’t a hacking event, it certainly was demonstrative of what could happen to our highways and lives when data isn’t controlled or properly protected.
Events such as these, their frequency and impact, are what make me so certain about the future of Blockchain. Today, the data we share by necessity online, and through our technologies, is increasingly personal, sensitive, and thus, vulnerable. This applies to our personal lives and our work lives (which today are really one and the same as we work anytime, anywhere — navigating on our devices from APP to APP).
Blockchain was designed precisely to increase security and protection for all types of communications online — the first, model working “application” on blockchain was BitCoin. “Money talks” as the saying goes. BitCoin showed us we could create money, send money, trade money, without banks, or a central government. Once that was clear, and BitCoin started to gain traction, the behind-the-scenes technology behind it, Blockchain, that enabled the “cryptocurrency” started to be looked at by others as to how to protect sensitive data through every step of our lives and jorney’s online.
Blockchain provides transparency, and ensures authenticity. It can be used for storage. It can be used to tailor access and privacy, and so much more. There are billions being invested by some of the biggest names in business, technology, and governments world wide — exploring how to leverage this technology. Why ?
Perhaps what is most important thing about Blockchain is what it doesn’t do: centralize. Centralization, from government currency controls to storage of large swaths of personal data, is what makes our information, and people, so vulnerable online and off-line. Centralized power has proven to become mostly bureaucratic, monolithic, and at its worst corrupt. And this is precisely what Blockchain was designed to change, and why it’s being rapidly adopted in every industry, from banking to business, to privacy and insurance policies, to mobile devices and wearable technologies, healthcare to the food we eat. If you use technology, you will eventually use Blockchain. If you don’t think you use technology, you will — even if its a meal set on the table in front of you to source its origin through supply chain. Blockchain is a future that’s already begun.
The Internet changed the world in ways we could have never anticipated. In 1994, when Netscape offered the first free public browser, no matter how vast our imaginations were, we could have scarcely predicted the future dominance of mobile phones, apps, and social media. It is my conviction that Blockchain will have an equal, if not more profound, impact on our lives. I described the BlockCerts platform to my 85 year old Mom on mothers day. I know, great Son right (well she asked what I was working on :) Guess what — I told her how blockchain could safely stock her fridge right from Whole Foods through Amazon. Guess what, she got it ! She said, “its just like the Jetsons” !!
Today, with the history of the internet well entrenched, where toddlers to eight somethings can use tech, we can begin to anticipate how fundamental a shift Blockchain will be. The question is to figure out how to mobilize this shift for the good of the world, and the betterment of society. That starts with “distributed ledger networks”, and a host of other new jargon that surround the billions being spent on the millions of lines of blockchain programming code, that is making it happen.
This blog series will be focused on how Blockchain can positively impact not only our businesses and technology, but our lives and our responsibilities to one another. I imagine this series as a provocation for discussion. I want to hear back from you, the readers, so we can converse about how to use this technology for good. Blockchain presents an opportunity to shape our world, to build new communities, and to imagine new opportunities.
Please join me every Friday at 11am Pacific Time for my podcast, “Ask me Anything,” where I will present ideas and answer your questions about technology, Blockchain, and the internet.
Click Here To Register