Blockchain Is a Technology for Collaboration
The unique strength of blockchain is authenticating “stuff” to enable trust between partners.
Even though blockchain is frequently in the news, it is still poorly understood. Conventional wisdom is that blockchain essentially concerns cryptocurrency speculation, or at the very least, people believe that this technology’s primary use entails financial transactions.
I recently attended the Future of Blockchain Summit in Dubai. The buzz around the summit was that blockchain is much broader than bitcoin and cryptocurrency. Indeed, it is one of the solutions that can enable collaboration among organisations both within and across the public and private sectors. It can also enable unique customer experiences in areas as diverse as government services or tracking the origins of diamonds.
This summit was sponsored by Smart Dubai, a government entity tasked with Dubai’s complete digitisation within the next few years. This includes financial services, health care, real estate, identity… you name it. Blockchain is a good technology to enable full digitisation, because it is helping government departments to better exchange information with each other as well as to facilitate the exchange of information between governments and private firms.