Hi!
As above, blockchain and its underlying technology was/is generating plenty of buzz about potential use cases – and as a distant observer who had a passing interest in it and bitcoin (etc. etc.) when it started becoming a thing – I have occasionally wondered when the theories would eventually be put into practice…
So just curious as to whether any MPU persons are actually involved in a field that is actively utilising blockchain in some way or form?
Care to share?
Without disclosing anything specific, yes. I remain unconvinced by Bitcoin and its like, but proof-of-stake (rather than proof-of-work) based block chains have application in circumstances where a trusted source of truth is desirable, but a centralised repository infeasible due to political, financial or technical reasons. Blockchain technology is slowly but steadily infiltrating many industries, you just don’t see it publicised except in the sector specific technology press.
I have a paper coming out about blockchain’s non-financial applications, particularly relevant to government and near-government organizations. It’ll probably be a few months before it’s published but I’ll try to remember to share it!
Just for you, though, an executive summary:
If conventional third-party/middlemen organizations and brokers are like boats helping people cross bodies of water, blockchain tools are bridges. If we can learn to trust the bridges (and their engineers), we might avoid a lot of ferries, saving a lot of money, time, and increasing reliability to boot. Four potentially powerful areas of opportunity are digital dignity, digital scarcity, digital governance, and digital collaboration.
Restoring digital dignity: Blockchain tools may give people more secure, specific, and granular control over their identity/data, including who can see it, who can use it, and how it’s used. E.g., Taqanu.
Encouraging digital scarcity: Blockchain tools may create new ways of controlling and securing access to digital goods in order to increase the value of those goods. E.g., the Content Blockchain Project.
Facilitating digital collaboration: By changing how contributions between people are valued at scale, blockchain tools may change the ways we participate online. E.g., Steemit.
Enabling digital governance: Blockchain organizations offer new ways to organize and coordinate decision making across borders and scales. E.g., Aragon.
I personally haven’t seen these visions borne out at scale yet. A lot still needs to be figured out—in particular, the social, political, and values-based changes that will need to take root in society in order to adopt blockchain alternatives. Still, a lot could change!
Appreciate the replies – some interesting leads provided!
I must add that I am convinced there will be a significant role for blockchain based tools in many different sectors – but am inclined to think the roll-out will take longer in industries where the current environment, whilst ripe for blockchain “management”, still sees too many role-players benefiting from the status quo being more amenable to, shall we say, misuse…
As in, unless compelled by some oversight body (government; licensing authority; regulator; ombudsman etc.), think it is still a long way off since the current actors will be less motivated to participate unless they receive something in return. Granted, the aforementioned is more likely to be the case in certain fields, rather than others, but regardless, going to be interesting to see how this all plays out…
I read this article recently on the topic… https://thecorrespondent.com/655/blockchain-the-amazing-solution-for-almost-nothing/86649455475-f933fe63
It really got me thinking that after 13 years it still hasn’t really found a niche. I think the underlying system is a good concept, but when there are also solutions to the same problems without the disadvantages of blockchain, it makes it a hard sell to use as a replacement for a lot of already mature database systems.