Despite the hype, these technologies aren't relevant right now. But they could be in the future.
- The hype around blockchain technology has been sufficiently steady since its arrival. But UCLA professor Ramesh Srinivasan reveals the real potential in this relatively new technology is far from its connection to cryptocurrency.
- To tap this potential, it's necessary to move away from the individualistic intentions to which blockchain so often applies. For example, taking root in areas that have fallen victim to disaster capitalism like Puerto Rico in the wake of Hurricane Maria.
- To overcome these hurdles, we must scrutinize the sources of these types of technology as well as those that benefit from its implementation.
This is what you need to do to keep up with today's digital progress.
- Amazon has set aside $700 million to retrain 100,000 of its employees. That's an incredible thing—a company that is already at the forefront of tech is helping its employees catch up. What does that mean for the rest of us?
- Developing digital literacy in your organization's workforce is of utmost importance. How will companies stay ahead of the competition if they don't understand how emerging technologies, like blockchain, can be implemented?
- "Stay current" should become an organizational motto; it's about the disciplined pursued of understanding how technology can change the work you're doing today.
What's the big promise of blockchain in business? Its ability to eliminate the middle man.
- Blockchain is basically a ledger of people's transactions. It is the underlying programming on top of which the cryptocurrency bitcoin was developed.
- Blockchain doesn't allow for people's transactions to be hacked because everyone has access to a record of the values exchanged. Because of this, it is said to be unhackable.
- Blockchain has many potential uses, such as in accounting systems. This is already the case in Dubai, where its used for the city's stock exchange, and in the Baltic states, such as Latvia and Lithuania, for their political processes.
- The image of cryptocurrency tends to focus on privilege and flaunted wealth.
- Financial institutions dismiss Bitcoin as a fad, while exploiting the benefits of the underlying technology for themselves.
- But the story in developing countries paints a different picture – one of vast potential.
- Bitcoin has long been the king of the cryptocurrency market.
- New coins and tokens have shaken up the status quo with unique use cases and innovations.
- Bitcoin has responded with its own improvements, leading to a healthier market.