I was invited to keynote speak at the Blockchain in Business conference 2021, organised by Boussias. Due to the ongoing pandemic at the time, the event was held online-only. The audience and theme of the conference was purely business focused, so that gave me the opportunity to expand on impact of blockchain technology for businesses.
Blockchain technology is maturing and penetrating businesses of all sizes and shapes across the globe. The past 10 years or so brought to bear a technological evolution that successfully combined cryptography, distributed computing, atop of the internet to enable a new, algorithmic way, of conducting business transactions. Practically every industry can benefit from blockchain technology, however, those with long and complex supply chains are to see quicker return on investment. Digital identity, tokenization of commodities and services, fractional ownership and leasing of products are to be benefit industries in the production and distribution of goods. Financial services, manufacturing, healthcare, energy and utilities, logistics and retail industries can leverage blockchain technology to improve operational efficiency and boost internal processes. However, as the technology gets introduced to business proper, new challenges are becoming apparent. Decentralisation, non-intermediation, emergence of hybrid systems, functioning governance and regulations are not easy to grasp and deal with. Business understanding is key as is mastering the technology. The time to invest and learn about the benefits of this foundational technology layer for the 21st century is now.