Jun 19th, 2019
Sheila Warren Blockchain Expert, Center for the Fourth Industrial Revolution
Blockchain Benefits Beyond Imagination
We expect the blockchain technology to be at the center of 4th Industrial Revolution technologies to capture the value exchange of innovative companies and social enterprises in transparent and secure ways. True, the blockchain technology is in its infancy, but imagining how blockchain can be used to benefit humanity is exciting—consider wealth enhancement, land titling, supply chain tracking and efficiency, micro-credit accounting, tracking digital creative rights, and even distribution of energy. Imagine, handling remittances ($ 600 billion USD/annually)- the exchange of money from residents in one country to residents in another country; in a safe, secure, irrefutable, and cost-effective way. That’s blockchain technology at work. Imagine, distributed ledger to protect indigenous land rights, to ensure the record of property following a natural disaster. Now, that’s a smart contract. And, what if energy credits, or services, or utility use could be tracked, measured and distributed across energy grid systems? That’s smart blockchain. What happens when we track the digital rights of a music piece or an article written online or a collaborative art piece; would we then be able to value and compensate with micro credits, those value creators? What about new business opportunities and markets open for direct exchange of value from coffee bean grower to coffee bean distributor to coffee bean customer (me)…? The provenance of the coffee would be transparent to everyone across the supply chain; likely having the effect to drive greater profit percentages back to the grower, right?! In our interview, Sheila offers our listeners a thoughtful colorful array of reflections on the use of blockchain to serve humanity and ensure a better future.
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