10. Blockchain Embraced By Big Players
If you had invested $1,000 dollars in Bitcoin back in 2008, you’d have more than $40,000,000 today. Bitcoin is based on the blockchain protocol.
Blockchain originated in the technology space, which explains slow adoption rooted in its techno-babble jargon. To better understand the technology, checkout WTF is The Blockchain?
Marketing and business strategist Clay Hebert sees a familiar story playing out differently this time compared to how many companies were late to the party when social media emerged.
“In the mid-to-late 2000’s, big companies missed the social media train. They couldn’t see how Twitter or Facebook would immediately impact their business, so they were slow to adopt these technologies. They don’t want to play catch-up again.”
As Hebert suggests to, we’re already starting to see wider understanding and adoption in blockchain technology from companies big and small. For example:
- Large consulting firms like Accenture and Deloitte are building out entire blockchain practice areas and developing key alliances in the space.
- IBM recently forged a blockchain collaboration with Nestlé, Walmart, Costco and others to improve global food supply chain safety.
- Some realtors have begun to differentiate themselves by accepting Bitcoin for real estate transactions (CNBC).
The hurdles won’t be overcome overnight. Similar to the Internet itself and social media, blockchain will enable new digital transactions that will disrupt traditional businesses like document authentication and title searches.
Smart companies will build skills around blockchain technology to ensure they are the ones doing the disrupting rather than the ones being disrupted.
Altman, I. (2018). The Top 10 Business Trends That Will Drive Success In 2018. Retrieved from https://www.forbes.com/sites/ianaltman/2017/12/05/the-top-business-trends-that-will-drive-success-in-2018/#3038465701ad
