On this week’s episode of Odd Lots we speak to Angus Champion de Crespigny, who formerly advised companies on how to use blockchain technology, but who now believes that ultimately it won’t get them anywhere. In our discussion, he explains the limitations of the technology, and where he sees actual opportunities.
Why Blockchain May Never Benefit Corporations
As someone who’s been involved in both public and private blockchain development, there is an element of truth to Angus’ statements. But advisors at various projects probably said the same of Electronic Data Interchange (EDI) back in the early 70s, if they were born yet 🙂
Enterprise/private blockchain is EDI, re-architected.
Source: A Former Blockchain Believer Explains Why It Will Never Benefit Corporations – Bloomberg, Joe Weisenthal and Tracy Alloway, November 19, 2018Read More
On top of ensuring farmers from within developing nations receive a fair price on the goods they export, the BlocRice project also aims to introduce cashless payments. In collaboration with Acleda bank, the project will assist farmers in their attempt to reach banking services – something than many rural Cambodian regions are currently unable to access.
Source: Leading Charity Oxfam Launches Blockchain-Based Rice Project, Kane Pepi, November 19, 2018Read More
It’s important to keep in mind that while blockchain is disruptive, it’s bound by the same rules as most businesses. They need to find good talent, build strong cultures, get their hands dirty in real work, and add actual value.
Source: What I learned from 30 Blockchain CEOs » Brave New Coin, Misha Yurchenko, Novmber 18, 2018Read More
Before buying an item, conscientious shoppers can open their VeChain app, scan a product’s NFC chip and retrieve data about that particular item including the material that has been used, the artist’s ID, colo, supplier, factory name and more relevant information.
Source: The Blockchain Technology Penetrates The Fashion World: H&M Empire Gives VeChain A Try | Crypto Update, November 18, 2018Read More
Casey Kuhlman explained. “Almost every interaction between companies (i.e most commercial activity) is underpinned by a legal contract; yet, as commerce evolves there is a growing chasm between the traditional lawyer and the real, networked world. This chasm has come about largely because legal has lacked the technical backbone on which to build relevant digital products for these networked businesses – and that is where blockchain-based systems come into play.”
Source: Can blockchain smart contracts level the legal playing field for SMEs? | finder.com.au, Andrew Munro, November 9, 2018Read More
When it comes to decentralized identity, the classic POC is DOA. Organizations can now work side-by-side to move to market faster than…
Source: Identity is evolving—time for POCs to do the same – Evernym – Medium, Nick Ris, November 7, 2018Read More
In the patent, IBM provides a brief description of augmented reality, stating that such a form of gaming is tied to a location that is overlaid by images of more game items such as characters, resources, or internal game locations. By applying the new blockchain patent, IBM can provide a guarantee of “trust” between real world locations and location-based AR games.
Source: IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations, Helen Partz, November 4, 2018Read More
“When things go wrong, consequences can be severe. With digitization and automation, more models are being integrated into business processes, exposing institutions to greater model risk and consequent operational losses. The risk lies equally in defective models and model misuse.”
Source: Blockchain Business Series: Blockchain Model Risk Framework – BMRF | LinkedIn, Nitin Gaur, October 27, 2018Read More
“Air Canada recognizes the importance of leveraging this next generation technology. We plan to integrate Air Canada’s Direct Connect API with Winding Tree’s public blockchain platform, giving blockchain-savvy users the ability to access our content directly from the source.”
Source: Air Canada to Integrate Blockchain-Based Travel Distribution Platform, Ana Alexandre, October 24, 2018Read More
Projects need to understand that “build it and they will come”, is probably much closer to the truth than “incentivize them and they will come”. Bootstrapping an ecosystem and an economy is impossible without a product that users actually want. The tokens should only be introduced after you’ve nailed product-market fit because only then can its purpose be understood, instead of forcing artificial demand when they can’t actually be used for anything valuable.
Source: Minimum Viable Utility – Yannick Folla – Medium, Read More