This technology has implications in finance outside of cryptocurrency
Implications - Discussions around blockchain technology and its applications in finance tend to focus on cryptocurrency. Another increasingly popular application, however, can be seen in blockchain's use as a mode of asset protection. This is especially popular among younger consumers who have a more inherent understanding of new technologies, and highly value transparency across the board.
Workshop Question - What is a new technology within your industry that your company could better leverage?
Trend Themes
1. Blockchain-based Asset Protection - Younger consumers value transparency and are increasingly using blockchain's mode of asset protection outside of cryptocurrencies.
2. Decentralized Financing Platforms - Startups like Viva Network are disrupting traditional mortgage financing models by offering decentralized crowd-lending platforms that connect borrowers with a network of global investors.
3. Blockchain-enabled Supply Chain Management - Tradeshift Pay is using blockchain technology to improve trust, transparency, and payment processes for B2B transactions in supply chain management.
4. Counterfeit-detecting Apps Using Blockchain Technology - Apps like Peeke are using blockchain, NFC tags, and smart contracts technology to protect both brands and consumers from counterfeit goods while rewarding app users for verifying product authenticity.
Industry Implications
1. Finance - Blockchain technology is disrupting traditional finance models and enabling asset protection and decentralized financing platforms.
2. Supply Chain Management - Blockchain technology is improving trust, transparency, and payment processes in B2B transactions and supply chain management.
3. Retail and Consumer Goods - Apps using blockchain technology are helping to protect brands and consumers from counterfeit goods by enabling quick and easy verification of product authenticity.
