The Inside Scoop on Bitcoin and Blockchain

04/03/2016

By Dan Wellers, he leads Digital Futures for SAP Marketing Strategy.

1. Perception: Bitcoin is doomed, and so is the technology behind it.

Reality:

In January, when an influential developer declared Bitcoin a failure, tech enthusiasts and thought leaders worldwide predicted its imminent demise. While Bitcoin’s fate remains to be seen, the underlying technology, called blockchain, still holds the potential to transform the way we make commerce secure and trustworthy. Digital currency is just one example of how blockchain technology provides a method for recording any digital interaction in a way that’s secure, transparent, auditable, and efficient. In the case of financial transactions, blockchain could replace banks as guarantors, or it could enable near-instant settlement of securities trades.

2. Perception: Digital transactions can’t ever be secure.

Reality:
….

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