Catching Blockchain’s Wave

William Essex explores two possible futures with the Blockchain and talks about finding a more likely one somewhere between them.

There’s a simple question that we could all ask, and it is: why aren’t we there yet? Ram Komarraju, Managing Director, technology, CLS, puts it succinctly in this month’s Q&A:  “After all the investment of the last two-to-three years, why haven’t we seen many more applications in this space?” We’ve been talking about this for a while now, after all, and many of us have seen significant resources committed to developing blockchain/DLT at scale. At scale, as in: big money, big plans. And yet, bluntly, where’s the pay-off? It’s possible that we still don’t appreciate the scale of the gulf between banking as we know it and banking as the new methodologies insist that we do it – the first thing we did to blockchain was invent DLT, and the first thing we did with DLT was invent permission. So much for all that talk about open distribution as a mechanism for dispensing with trust. But there are other possibilities here. Let’s explore...continued

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