Blockchain: The Prize Fight of the Century

And in this corner, we have the reigning champion of finance, healthcare, and government: The large, invincible, trusted institutions with dubious distinction bringing financial collapse, bailouts, unethical business practices, and gross negligence of managing personal information for the greater market aka Apollo Creed*. And in the other corner, the new, bold, noble, technically astute, at times flashy, human rights contender or the Southpaw**: The blockchain-enabled, self-sovereign identity community.

We will all watch in the months and years ahead how this fight evolves in the ring as vendors, consortia, academics, and idealists fight to win the hearts, minds, and identities of consumers around the globe.

It is my contention this fight will not be a quick knock out or TKO as the nimble, often times premature blockchain GitHub teams and startups impress me with their speed of innovation and ability to recoil from faux pas and push forward with determination as they parry The DAO punches.

Concurrently, I am beginning to see slight glimmers of hope for Apollo as he comes off the ropes with the realization that 1) emerging blockchain solutions can selectively improve operational inefficiencies and security, 2) the Southpaw’s technological speed and agility is unprecedented and 3) the Southpaw’s promise of self-sovereign identity and the ushering in of real structural and competitive change brings fans to their feet with jarring cheers.

The Southpaw is a foe to reckon with able to deliver a mighty rabbit or counter punch. Its corner men are young, his supporters are disenfranchised, and they are burgeoned as witnesses to troubling global problems: concentration of wealth, government corruption, emerging authoritarian regimes, refugees seeking asylum, main street being pushed aside while financial markets are saved time and time again, and behemoth, on-demand marketplaces disrupting the lives of the middle class or fan base, creating a global feudal system as markets stagnate around the globe. The Southpaw is hungry.

It is imminent that the reigning champ, Apollo, needs to recalibrate its ring strategy in response to rising distrust and fan dissatisfaction, and either align with or harness the blockchain-enabled, innovative strategies and techniques being developed by the mighty Southpaw or be subject to the biggest upset in boxing history.

*Apollo Creed is a fictional character from the Rocky films, initially portrayed as the undisputed heavyweight champion of the world.

**Southpaw is a boxing term that designates the stance where the boxer has his right hand and right foot forward, leading with right jabs, and following with a left cross right hook. Southpaw is the normal stance for a left-handed boxer.