Society is transforming at an unprecedented rate: from rewriting
the traditional social contract between government and citizens, to
online retailers waging war against bricks-and-mortar, these
changes are building blocks to a new economic reality.
The
sharing economy has the potential to bring about renewed trust
in the advantages of globalisation, and to speed up economic
development worldwide. For the time being it's also missing an
infrastructure that builds trust and which does not rely on a
centralised system. Blockchain, supporting distributed ledger
technology (DLT), could grow into that infrastructure, and thus
enable fast and trusted exchanges in a decentralised network.
Businesses and governments alike are currently investigating the
potential of blockchain. It will be critical that they maintain a
holistic view of the risks and opportunities that DLT technology
holds beyond their specific industry, supply chain or regulatory
focus.
