Let's discuss how bitcoin's underlying technology will transform the legacy financial system. We'll also cover the status of institutional adoption in the Philippines or whatever blockchain agenda local financial institutions might roll out in the medium term.
In Don Tapscott and Alex Tapscott's book, Blockchain Revolution, they noted at least eight core functions that are ripe for disruption and blockchain technology's significant impact on the next steps forward:
1. Authenticating identity and value.
2. Moving value.
3. Storing value.
4. Lending value.
5. Exchanging value.
6. Funding and investing.
7. Insuring value and managing risk.
8. Accounting for value.
What do they actually mean? Do you agree that blockchain technology will have an overwhelming disruptive effect on a traditionally conservative sector such as the financial industry?
Tuesday, March 28, 2017