We understand throughout history there has been hype over a lot of stuff….in the hope that it becomes something amazing. We also know sometimes this pays off and others it doesn’t but that doesn’t dispel the ambition.
We were reading an article recently about the various blockchain applications, and it led us to an interesting quote…..
“In this modern age of the blockchain goldrush, there will always be someone selling shovels and empty plots”
And that line stuck with us and made us re-evaluate what we are looking at in the emerging technologies market. We like to think we can pick out the most obvious snake oil salesman, however, some people fool even the best technologists. We constantly re-evaluate the marketplace, to avoid this.
We work closely with a number of industry-leading “Blockchain” centred companies and consortiums; we always have our finger on the pulse.
In 2008 Satoshi Nakamoto theorised about forming a digital currency from a Blockchain equation, essentially computers would be made to solve huge equations and in return, they would be rewarded with digital “cryptocurrency”. The Blockchain in cryptocurrencies serves as a decentralised ledger, that can be checked by multiple computers simultaneously to verify the transaction. Blockchain “transactions” however are not limited to purely financial, because of it’s nature it can be used for any “transaction” that needs to be indelibly and unequivocally stamped with an Omni verifiable code, that can be updated as things change. We work with a number of companies trialling and already using this technology for smart contracts, QA/QC of Pharmaceuticals and Aerospace parts, financial transfers and uniquely secure identities amongst other things. This is a brave new world, and whilst we don’t believe this will solve every problem, and should not be sold like some do, as a “cure all” snake oil…… we do believe however that it has vast possibilities and can someday make the world we live in fairer, safer and more secure for all.