What Everyone Needs to Know About Blockchain

Jeremy Epstein Business

It’s not about blockchain technology.

It’s about the implications of blockchains arriving full force.

In the first phase of mainstream blockchain adoption, we’re going to see existing companies leverage it to gain efficiencies in their back-office operations.

This is great, but it’s an intermediate step on the way to real value.

I was reading the Gartner report on the CIOs Guide to Blockchain and, they made a very valuable point.

Look beyond these initial use cases to the radical possibilities for value exchange enabled by the programmable economy.

Twenty years ago, no one could have foreseen Spotify or Seamless or TaskRabbit or Twitter. Yet, here they are. All a part of mainstream life.

Heck, Snap just IPO’d for what, $24 billion?

What you need to know about blockchain is that it is going to introduce an entirely new way to generate value.

  • Data will be shared globally in a ledger across an industries
  • Assets will be programmable
  • Everything will be verifiable
  • Customers will be tokenholders, aka ‘shareholders’ in the networks in which they participate

It’s “What If…?” time.

  • What if we didn’t control our customers’ information?
  • What if everyone in the world had access to transaction data in a given industry?
  • What if you didn’t need any intermediaries?

These are just some of the questions, but the immense value is going to come from these yet-to-be invented business models that invert the customer relationship.

What you need to know: blockchains and decentralized systems are not ‘business as usual.’