The Acceleration Economy Analyst Network reacts to Analyst Predictions for 2022. In a roundtable discussion, Aaron Back is joined by analysts Kieron Allen, Frank Ohlhorst, Chris Hughes, and Wayne Sadin to talk through blockchain predictions.
Highlights
03:23 — The analysts discuss perspectives around blockchain beyond cryptocurrency, as Frank Ohlhort shared in his piece on emerging technology trends. There needs to be a greater call for transparency, especially with transactions. It can also help standardize blockchain deliverables.
04:42 — Blockchain is the solution in search of a problem—there are many theoretical uses but it requires a lot of trust in its potential.
05:40 — What is the difference between public blockchain and private blockchain? As we move towards the concept of privatized blockchains, it adds in factors on security, safety, and even efficiency.
07:44 — There is a digital twin problem regarding blockchain. How can users be confident that the digital twin truly represents what it’s intended to in the physical world?
09:18 — In theory, blockchain can provide a certain level of credibility that would stand up in a court of law. However, it’s up to those who are looking for outliers to perform due diligence.
10:25 — A significant stride for blockchain in 2022 would be that people learn to differentiate it from cryptocurrency. With this understanding, the financial issues revolving around blockchain can move to the side and the focus can shift to usability.
11:01 — There are a couple of use cases that show the potential of blockchain. A newer use case of blockchain is in the humanitarian sector. For instance, humanitarian organizations can use this technology to track records for refugees to ensure they have their documents in place. Another use case is due to blockchain’s transportability, as it can be used for the supply chain and logistics.
12:10 — Of course, blockchain is still at the point where people are trying to understand how to use it. Over this next year, will people see blockchain separate from cryptocurrency? By defining best use cases, blockchain can be built upon, made faster, and even used for industry-specific solutions.
13:32 — Is blockchain the best technology to implement trust?
Download the full Winter 2021/2022 Journal Predictions Edition here!
