The new world of work

#NewWorldOfWork #BotManager

Blockchain- A digital, distributed ledger system for storing transactions in the form of tokens (e.g. Bitcoin), publically and chronologically is here to stay. It is a very disruptive innovation and in its wake, here are three notable industries that stand to be shaken up!

Banking

For centuries, banking has been operated by centralised institutions. A country’s central bank prints money which is backed by nothing more than trust. It sets inflationary and deflationary rates. Quantitative easing is the order of the day. When an electronic payment is made from one party to another, it takes up to three full days for security checks to be made and the payment to be finalised. It’s very expensive. The reason we can walk into a shop, make a payment then leave with merchandise is that the payment processor makes a promise that we are unlikely to default.

In contrast, Blockchain is decentralised and outside the control of any single institution. This means any fluctuations in a currency like Bitcoin or Litecoin are fully reflective of the markets in which they operate. In addition, payments made through Bitcoin are completed in three…