Blockchain Overview

This Harvard Business Review article is a mostly simple but very solid overview of what Blockchain is and how it is slowly shaping parts of the business world today. I do not necessarily understand the social underpinnings of Blockchain. For example, this paragraph is a bit too ambiguous for me:

“… an incredible tool is shoring up the foundations of social at the level of every transaction—blockchain. Originally gaining notoriety as the data technology underneath the cryptocurrency called bitcoin, today blockchain technology is expanding its reach far beyond the confines of currency and tackling issues involving transactional social trust throughout the world.

However, when some technical armor is placed on it, Blockchain does become a little more clear:

Blockchain is a cryptographically secure, shared data layer that enterprises can use to digitally track the ownership of assets across trust boundaries, opening up new opportunities for cross-organizational collaboration and imaginative new business models. As a shared source of trust, it can extend the scope of digital transformation from a single company to the processes it shares with its suppliers, customers, and partners.

Blockchain, per this article, is going to be a big part of the new Economy, especially relating to the “smart economy”, “IoT” [Internet of Things], compliance, Supply Chain and data security.


The Harvard Business Review article [“How Blockchain Will Accelerate Business Performance and Power the Smart Economy “]is here in full.