Technologist William Mougayar thinks blockchain is the tech world’s next killer app. In this study of blockchain’s potential, he outlines a future in which blockchain will seamlessly underlie banking relationships, store medical records and issue passports, all through a secure process. Mougayar acknowledges that blockchain has garnered ample hype, and details the obstacles stalling a blockchain world. Among them: Software developers have yet to embrace blockchain, investors seem underwhelmed and regulators remain puzzled. Despite those hurdles, Mougayar argues that blockchain holds a position similar to the Internet’s in 1997 – poised to unleash a massive, world-changing breakthrough. Although no study could address every issue or likely development in this rapidly unfolding field, the author predicts that the financial industry will be the first to feel the effects, and other sectors will follow. Despite some choppiness in its organization, getAbstract recommends this timely examination to executives, investors and policy makers who always want to know what’s speeding down the tracks now.
In this summary, you will learn
- What functions blockchain offers,
- Which challenges impede blockchain’s wider adoption and
- How blockchain will shake up the financial sector.
About the Author
William Mougayar is general partner at the early-stage tech fund Virtual Capital Ventures. A blockchain industry insider, he sits on the board of the OpenBazaar (OBI) open source protocol.