I am fascinated with what is happening at the moment- every industry, every organisation is on the cusp of significant transformation, largely due to the changes in technology.
I am no technology geek – the technology has little fascination for me – but what it does to the business model, the ecosystem and industry structure I find incredibly interesting.
Crypto currencies, such as Bitcoin, have been talked about for a few years now – and getting an understanding of them and how they are likely to impact hasn’t been easy. I have no doubt that they will play a role, particularly within the banking system and the person to person payments process.
BUT, the hidden sleeper behind Bitcoin, that I believe will have enormous impact, is the Block Chain. Block Chain is the technology driven consensus authentication process that authenticates every transaction and verifies asset ownership. It has huge potential to transform payments, transactions, auditing and credit.
The link below provides a simple explanation of the way the Block Chain works.