Blockchain: The Next Wave of the Internet…?

Bitcoin, introduced in 2008, promised to transform the way payments are conducted through a new digital crypto-currency or alternative to conventional systems. Today, Bitcoin continues to garner attention despite market price fluctuations challenging its stability and market uncertainty shaking the viability of Bitcoin’s long-term adoption. The technology underpinning Bitcoin is Blockchain or Distributed Ledger Technology (DLT).  Hailed by some as the next transformative change to the Internet providing infrastructure to enable the Internet of Things (IoT), Cloud, Robots / Drones / Chatbots, Social, Mobility, Big Data / Machine Learning / Predictive Modelling, Virtual Reality and more. The hype surrounding Blockchain / DLT has resulted in an industry wide effort and investment to determine how best to utilize this technology. At its heart, is a call to the financial services industry challenging centralized / trusted ‘bank’ models especially within payments, in favour of a decentralized models. Blockchain / DLT solutions vary and will evolve as the industry rethinks the status quo. This is an invitation to learn more about this transformative technology and understand how it is impacting the financial services industry.