The
Blockchain is already a reality. One of the truly
disruptive aspects of the innovation created in 2008 is the fact that
it took a number of well proven mathematical and computing techniques and drew
them into one value proposition.
The technology is
not limited to supporting basic transaction validation and ledger management.
The ability for complex secure processing, in response to transactions and
messages, can enable automated activities. This leads us to the world of
Smart Contracts and Smart Property allowing transfer of ownership of any
physical or intangible assets. When we make this shift the ideal use case
for this technology may not be payments, value transfer and banking.
Those starting out
with a blank piece of paper, the likes of Number 26 and Atom, could very
well make use of the Blockchain, however
traditional firms have much invested in existing
systems and ecosystem arrangements. This is a new set of technologies and
companies with active VC investor interest. Most firms are very small, loss
making and very young but make no mistake the technology genie is out of the
bottle.
