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Why Blockchain Will Be An Engine For Inclusion

And Entrepreneurs Worldwide

Harry Alford
Apr 4, 2018 · 3 min read

“This is it. This is the thing we’ve been waiting for. The distributed trust network the internet always needed and never had.” — Marc Andreessen, Cofounder and General Partner of Andreessen Horowitz

Blockchain, a distributed ledger, is immutable, secure and decentralized across computers all over the world. The blockchain represents a network consensus of transactions and records anything of value such as titles of ownership, certificates and money. The technology is faster than traditional methods, has lower costs and removes friction between parties. Additionally, by circumventing middlemen, people can own their own privacy, create and exchange their own value and be compensated for their work.

“We believe that the economy works best when it works for everyone, and this new platform is an engine for inclusion. It drastically lowers the cost of transmitting such funds as remittances. It significantly lowers the barrier to having a bank account, obtaining credit, and investing. And it supports entrepreneurship and participation in global trade. It catalyzes distrubuted capitalism, not just a redistributed capitalism.” — Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World

The adoption and increasing acceptance of blockchain in financial services presents an opportunity of equal importance to include diverse perspectives into the decision making at firms and startups. Blockchain requires visionary leaders. Eighty-three percent of tech executives are white and there are half as many African Americans and Hispanics in tech as in the rest of the private sector. The people driving the technology from the edges should represent the underserved communities and global population that blockchain will eventually touch, avoiding missteps from the first generation of the Internet.

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Harry Alford

Written by

Business Development, Coinbase

humble words

Stories and lessons about startups, innovation, diverse founders and those building solutions for diverse audiences.

Harry Alford

Written by

Business Development, Coinbase

humble words

Stories and lessons about startups, innovation, diverse founders and those building solutions for diverse audiences.

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