Note from the CEO: Great read on blockchain innovation and what’s smoking now. Or, as Heidi Klum says on project Runway, “one day you’re in and the next day you’re out”.
On one hand, the developers of bitcoin continue to find an assertive solutions for the block size problem. On the other hand, the people who are getting to know about bitcoin are rather focused towards the disruptive and innovative power of the bitcoin’s blockchain technology and are trying to investigate further on its possible applications, the sharing economy and P2P lending services.
Blockchain’s disruptive potential has given birth to its own philosophy of community empowerment and solidarity-based finance, as a result of decentralization. This is evident from the growing number of working papers and position pieces, such as “How Can Cryptocurrency and Blockchain Technology Play a Role in Building Social and Solidarity Finance?” by the United Nations. Another example is the publication by Deloitte LLP’s David Schatsky and Craig Muraskin, which bring into lightblockchain’s salient features that increase the possibility for innovation in every major industry: reliability and availability, transparency, immutability and irrevocability, and blockchain’s digital nature.
Also according to Rodriguez, ‘The architecture of the blockchain can enable the first effective peer-to-peer (P2P) e-commerce network in which buyers and sellers can interact directly without the need of a central authority. The absence of a central marketplace eliminates many of the restrictions of e-commerce models such as fees, regulated transactions, etc.’
Blockchain successfully paved way for peer-to-peer economy, which is now among the examples for the technology’s disruptive and innovative potential given by Don Tapscott, Senior Advisor at the World Economic Forum and the fourth most influential thinker in the world for 2015, according to Thinkers50 Awards. Tapscott described to blockchain as “the biggest innovation in computer science in a generation” which “holds the potential for unleashing countless new applications and as yet unrealized capabilities that have the potential to transform everything in the next 25 years.”