The Morning Note — Friday Deep Dive — The Living System of Blockchain.
A morning bulletin offering fresh news, pithy opinions and pioneering insights cultivated straight from the heart of blockchain ideology and technology.
As you ease into your weekend — we give you something a little deeper to ponder with our Friday Deep Dive. Enjoy! — Brought to you by the Keynote team.
24 August 2018
This week we jumped right in deep and began to explore the concept of diversity, what it means to blockchain technology, and what it means to us as active participants in the growth and evolution of the blockchain ecosystem.
We used the framework of a living system to explain the different elements of the blockchain system. For any living system to thrive it requires four elements: divergent parts, dynamic relationships , a convergent whole and self -integration.
Today we consider the final (and most vital)element required for a living system the thrive: self-integration.
Biologists describe self-integration as ‘when the living system integrates all the divergent parts, into a convergent whole through dynamic relationships’. This integration happens of its own accord (it is self-managed)and is ongoing. The result — a moment to moment process of self re-creation. Self integration is what makes a living system ALIVE.
When a living system is self-integrating and thriving, it naturally seeks to transcend itself by connecting with other living systems. It does this as it is looking for ways to adapt, create and innovate new forms. And this is when things get really exciting. Especially when we look at it in the context of blockchain technology.
When the living system of blockchain is thriving, it is no longer a conversation about the potential of the technology; that is certain. The conversation shifts at this point and it becomes about the magnitude of impact the technology will have on the evolution of humanity. And we are starting to get a glimpse of what this looks like.
Here are three monumental examples of blockchain systems seeking other systems to connect with to innovate new forms to solve wicked world problems.
1. Blockchain Will Solve Identity Management Problems
Blockchain As A Panacea To Problems Of Identity Management
Blockchain can be used to create a platform that protects individuals’ identities from theft and massively reduces fraudulent activities. The technology can also help businesses build strong blockchains that handle the issues of authentication and reconciliation encountered in several industries. Additionally, it can allow individuals the freedom to create encrypted digital identities that will replace multiple usernames and passwords while offering more comprehensive security features capable of saving customers and institutions valuable time and resources.
2. Blockchains Will Transform Healthcare
The healthcare industry is drowning in data — clinical trials, patient medical records, complex billing, medical research and more. Adoption and implementation of blockchains will be an evolution over time as blockchains applications are vetted and adopted as well as the industry coming together to determine collaboration and governance issues.
Blockchains will fundamentally transform healthcare on a number of levels including:
- Medical Data Management
- Drug Development and Supply Chain Integrity
- Claims and Billing Management
- Medical Research
- Data Security
Additionally and, perhaps more importantly, the sharing of data points and medical knowledge through the ledger would be invaluable. This would provide governments and healthcare authorities with up to date information on health trends across the world to be better equipped in the fight against virus and disease.
3. Blockchain Will Fight Modern Slavery
From the fishing industry to child sex traffiking Blockchain technology is being deployed by civil society groups to make supply chains fully transparent , thereby achieving end-to-end traceability.
It is a secure, decentralized, distributed digital ledger that stores relevant data regarding any kind of transactional history. It’s a shared, transparent database that’s verifiable by all parties — and it can’t be altered.
What is the deeper impact of this kind of transcendence?
This is only the beginning of a deeper inquiry. One we will continue to push forward.
What does the world look like when modern issues such as healthcare, identity and slavery are addressed. Alongside the many, many other challenges we face in the early 21st century.
What happens when these problems are ‘fixed’, or at least are proactively addressed, and we move on to different problems. What new issues are created in the meantime?
This is a new kind of future. One we need to explore openly, together.
The Morning Note
We are always on the look out for the hearty stories and pithy ideas underpinning the future of blockchain. If there is something you’d like us to include in The Morning Note, please email clare@keynote.ae and we will be sure to take a look.
