Blockchain

Blockchain technologies have the potential to transform the business world in multiple ways. As a blockchain evangelist and market expert, Phillip strongly supports the use of innovative blockchain technologies such as smart contracts to shape the future of not just finance and banking, but many more sectors like healthcare and legal services as well. Phillip believes the future is here and it is all about harnessing the power of ledger systems such as blockchain technologies which have the capacity to transform the way business is done.

Drawing on over 15 years of experience in the field, Phillip is known and acknowledged as a market leader and specialist powering blockchain as a technology for businesses seeking growth. He excels at the analysis of blockchain models, customised blockchain development, integration of blockchain technologies into corporate infrastructure and much more. As an innovator and corporate leader, Phillip has helped businesses to explore how blockchain can transform and disrupt even traditional business models and bring about positive outcomes, such as enhanced security, increased transparency, and cutting-edge efficiency.

Phillip regularly contributes to his blog where we explores everything relevant to Blockchain and the current market. Everything from how Blockchain impacts the property market to exploring the different types of Blockchain technology.

Whether you are a familiar with the field of Blockchain or just starting to grasp the theory behind it all, Phillip’s wide knowledge and understanding of the subject is explained in his blog posts, social media and regular podcasts.

It’s important to understand where Blockchain started and how in a matter of a few years since its public application, it has become one of the most futuristic economic driving forces in the world. Now many people from countless industries are exploring the possibilities of blockchain and what it has to offer. As blockchain technology grows, many people around the world want to know what else it can do for them.

For example, can it eliminate trusted third parties from the equation and make transactions easier? Similarly, can it be used for digital advertising to pave the way for a new era of personalised advertisements like never before? These are some of the things that will be discussed on this website.

What is Blockchain?

In the simplest of terms, blockchain is a list of cryptographically linked records. Each ‘Block’ represents is a continuation from the block that preceded it. So a blockchain can be defined as a continuously growing ledger used to record all transactions within a given digital medium.

What are the Possibilities of Blockchain?

As an open-source record-keeping technology, blockchain has a wide array of applications in all kinds of governance, for-profit and altruistic endeavours. Here are some examples:

Blockchain-driven Economies

Blockchains were shot into prominence last year thanks to explosive growth of Bitcoin. Now that people have realised its potential, companies and even governments are examining the ways in which it can be used. For example, the Australian Securities Exchange has deployed the blockchain technology for clearing and settling debts.

Similarly, the nation of Malta has deployed a government-funded blockchain technology which is poised to make the country a leading economic force in the local area. If blockchains are used as the standard for financial services, then companies in the field can verify the authenticity of their customers and make availing financial plans much easier. This will also eliminate chances of fraud from the equation.

The Jobs Market

As the race of acquiring blockchain technologies has grown, so has the need for skilled professionals who can develop and deploy them. In fact, the demand for this skill is such that those who possess the knowledge can literally quote any figure they want. To be sure, with the rising demand for blockchains around the world, more and more developers will be looking to acquire hands-on knowledge and experience in this field and mint money. So, blockchain can potentially lead to a market expansion in the jobs domain while also making others redundant.

Driverless Cars

This one is sure to perk up the more automotive-inclined followers. Yes! Blockchain has a lot to say in matters of cyber security and thus, it can feasibly be applied to driverless cars as well. Ever since the deployment of the technology, speculation has gone on about its potential implementation in this domain. Sure enough, it is 2018 and the transportation lobby is seriously considering the legal framework that surrounds driverless cars and how blockchains can be the Holy Grail for this industry. By making driverless vehicles essentially untouchable, blockchain can spawn the next automotive revolution and change the way people move from one place to another forever.

These are just a few examples of the possibilities of blockchain that are in the offing when the technology takes firm root. No doubt, that as blockchain potentialities are explored and evolved, so will the terminology. But you can rest assured that many Blockchain enthusiasts, including Phillip will be right at the precipice of this rising technological tide that may soon change the world forever.

 

Phillip Nunn

CEO of The Blackmore Group

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