Business Change Management

Blockchain technology is continuously improving and developing, and it’s here to stay. It might have seen its first application with the advent of cryptocurrencies like Bitcoin, but its real potential lies in its ability to transform the business landscape as we know it.

What's Blockchain, You Ask?

Basically, blockchain is a digital ledger that currently is used to track, record and store transactions on blocks. When applied to business, these same blocks of data have the potential to perform any type of sale, goods exchange, contract, payment, monitoring or recording.

As this technology becomes fine-tuned over the coming decade, companies will start to integrate blockchain more and more into their processes and business relationships. And with so much potential on the horizon, it’s worth taking a look at how exactly blockchain technology can transform business.

In 1989, Tim Berners-Lee developed an open system which did not require access and which enabled the exchange of information on a global scale unseen in human history. Back then, the World Wide Web had a small community of devout users, while others wondered what it was and generally remained skeptical.

Like any new technology in its infancy, the internet raised a lot of questions. But look at where we are now.

The story of blockchain technology has the same potential. Like the internet, blockchain is developing out of necessity. When the global economy crashed in 2008, the first blockchain was conceptualized to change the way finances function. And like the emergence of the first emails, Bitcoin and other cryptocurrencies were developed to drive the development of blockchain technology forward.

Over the last few years, we've been witnessing the early stages of a financial revolution sparked by Bitcoin. Industries and governments from around the globe are exploring the potential of digital currencies and trying to find ways to leverage blockchain technologies. Japan, Russia, Dubai and China are all developing state cryptocurrencies to supplement, or perhaps even replace, their fiat currencies.

At the same time, numerous industries are leveraging blockchain platforms and tokenized systems to lower costs, streamline operations, and explore new revenue possibilities.

To see (and hear) what I'm talking about, watch my On The Brink interview with Jared Tate below and see why you should "absolutely" join the blockchain revolution:

"From Siri to Alexa to Watson, we're living in an AI world," says Peter George, CEO of empow, a global cybersecurity firm. I couldn't agree more. From carrying on conversations with humans to propelling self-driving cars, Artificial Intelligence (AI) is fast becoming an integral part of everyday life. And its influence in the world of business is no exception.

The vast capabilities of AI and how they are being used in business is the focus of a recent American Express OPEN Forum article which features the viewpoints and predictions of eleven business leaders, of which I was one. (Peter George was another.) 

Though we come from different industries, the eleven of us all recognize the enormous value of AI and how it can be used in business to complement, but not completely replace, humans. This is a big subject, and only getting bigger, which is why I'd like to share with you a sample of these leaders' statements, along with my own. Enjoy, learn and share. (You can access the article here.)