Blockchain in 3 minutes. Experts say that blockchain needs more than a dozen years of further dissemination and improvement to be globalized. Today, its development is perceived primarily in the context of the cryptocurrency market. The idea of creating a universal book, ledger of all operations was born in an environment that created the first – alternative to the official financial system – currency, Bitcoin (BTC). It can be said that the cryptocurrency world is a specific laboratory in which all the strengths and weaknesses of this technology are verified in continuous use.
Blockchain is growing and will develop. It is too high a quality change in order to threaten the market annihilation. There are a lot of questions that are born on the occasion of its dissemination, and one of them concerns scalability. And this is potentially unlimited.
Until, what benefits the blockchain brings the financial industry the fastest. But we are only at the beginning and the situation can be compared to the moment in which the Internet was in the mid-90s. At that time, nobody ever imagined that the Internet 2.0 revolution would change the essence of the network. Blockchain is still in its first phase of development, but it should soon experience a period of dynamic growth, which in time means a real globalization of the mechanism.
Earlier this year, the McKinsey Global Institute published a report in which he pointed out nearly 70 companies that had already implemented blockchain; almost all belong to the financial and insurance industry. According to these analyzes, the latter should be the main beneficiary of the breakthrough that the new technology promises.
My speech at the Corporate Logging Conference May 2018. In Polish.