Blockchain’s impact will be enormous, but it will take decades for it to seep into our economic and social infrastructure.
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True blockchain-led transformation of business and government is still many years away. That’s because blockchain is not a “disruptive” technology, which can attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly. Blockchain is a foundational technology: It has the potential to create new foundations for our economic and social systems.
But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure. The process of adoption will be gradual and steady, not sudden, as waves of technological and institutional change gain momentum.
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New Explainers on Tuesday — Subscribe now: https://www.youtube.com/user/HarvardB...
See also: The Explainer: Solving Problems by Starting with the Worst Idea Possible: https://youtu.be/XOA6s6YCKnQ
True blockchain-led transformation of business and government is still many years away. That’s because blockchain is not a “disruptive” technology, which can attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly. Blockchain is a foundational technology: It has the potential to create new foundations for our economic and social systems.
But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure. The process of adoption will be gradual and steady, not sudden, as waves of technological and institutional change gain momentum.
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At Harvard Business Review, we believe in management. If the world’s organizations and institutions were run more effectively, if our leaders made better decisions, if people worked more productively, we believe that all of us — employees, bosses, customers, our families, and the people our businesses affect — would be better off. So we try to arm our readers with ideas that help them become smarter, more creative, and more courageous in their work. We enlist the foremost experts in a wide range of topics, including career planning, strategy, leadership, work-life balance, negotiations, innovation, and managing teams. Harvard Business Review empowers professionals around the world to lead themselves and their organizations more effectively and to make a positive impact.
Sign up for Newsletters: https://hbr.org/email-newsletters
Follow us:
https://hbr.org/
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Francisco Gimeno - BC Analyst We are witnessing lately a series of articles and videos on how the blockchain is everything promised, but that it will need years, if not decades, to be available and in use globally. We agree it will need more time, but not decades. Innovation in the tech is growing exponentially, and more growth means more innovation and more parties joining and helping to develop the ecosystem.