4/19/18 At yesterday’s meeting of The Presidents Forum, we had a presentation on Blockchain. We heard:
  • Blockchain is a transactional platform that facilitates the process of recording transactions and tracking assets, both tangible or intangible, in a network.
  • Blockchain essentially serves as a database for recording transactions, but its benefits extend far beyond those of a traditional database.
  • Blockchain will enable other technologies such as Artificial Intelligence, 3D printing, Virtual Reality and the Internet of Things to be part of the economy.
  • For example, Bitcoin, a virtual currency is an application developed to run on Blockchain.
  • Other applications are slow in development, but dramatic change will occur when we couple blockchain with smart contracts, automated processes (robotics) and AI.
We heard about benefits and advantages and also hurdles in adopting blockchain. While widespread usage is still several years away for most companies, it’s good to start thinking about processes that can benefit from blockchain’s efficiencies. A great presentation on the future of business.  

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