“Blockchain” — listed by the World Economic Forum as one of the top ten emerging technologies of 2016 — may not yet be part of everyday language, but it could turn out to be as significant as the Internet.
At the most fundamental level, blockchain as described by the Bank of England is, “a technology that allows people who don’t know each other to trust a shared record of events.”
It is a record keeping and transaction processing system that overcomes the need for intermediaries.
Blockchain is already gaining traction in financial services where its capacity to bring greater efficiency, lower costs and reduce friction in high volume, transaction-dense operations such as settlements is winning attention.
But blockchain’s ability to alter industry landscapes won’t end with financial services.
We think it can potentially transform the energy and transport sectors of infrastructure. Blockchain is knocking at infrastructure’s door drills into how that may happen.
It identifies new energy and transport business models that may benefit forward-looking incumbents who leverage the blockchain innovation, which can potentially deliver significant economic and societal benefits.
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