In this episode we cover the basics of Blockchain and give the listener several analogies for the technology and applying it to real-world business cases. We also talk about Ethereum and the advantages of the popular technology. This is a good place to start on your Blockchain journey as well as good place to pick up so repeatable and useful nuggets to help in our Blockchain discussions.
Danny walks us through the Triple Entry Book Keeping analogy of Blockchain. Cijoy walks us through the Blockchain is Business approach.
Blockchain is Business
If you are like me, and many other folks out there, when you hear the word Blockchain, you think Bitcoin. Some of you think "Crypto Currency" and some think "Buzzword". While I have heard a lot of "buzz" around the term Blockchain, I could tell this was different than just a passing fad or a trend. So I wanted to know more.
Since I work in the consulting and business strategy world, I already had some basic working knowledge of Blockchain. But, whenever I talked about it, I ended up with more questions than answers. I realized I needed to know more. I started with a demo from Chris Ballinger at Toyota, he is the Chief Officer of Strategic Innovation at Toyota Financial Services here in Dallas. He demoed tech that they are using with some local innovators (Oaken Innovations) and a university (UTD) to develop a working platform for their automated cars that utilize the Blockchain platform. The demo included communication with a larger Blockchain mobility ecosystem that is currently being developed. I realized that it was confirmation that what I suspected was correct. Blockchain is much more than Bitcoin.
After that demo, I started reaching out to folks and attending local events. I connected with several folks that are leading the charge on Blockchain and applying it to real world scenarios that are not related to crypto or book keeping. I met the guys at Chain Advisors (Mirza Chughtai, Dany Thankachan and Cijoy Olickal) and they helped me understand how Blockchain is already changing the world and is much more than just a fad or a trend.
While there are legitimate banking applications for the use of Blockchain technology, there so many more opportunities outside of that industry. This past week I sat down with the guys at Chain Advisors and we talked through some of those use cases.
This 30 minute podcast is part 1 of 2 parts, this one focuses on giving a primer/introduction on Blockchain and then starts to get into real world applications. Part II will dive deeper into using Blockchain for large Enterprises - that episode will come out on November 27th.
Special thanks to Kenton Kisler and Executive Connection for getting me connected to Mirza. You should definitely check out what Kenton is doing with that program, amazing and informative events.
Thanks to Mirza for getting me connected to Danny and Cijoy, as well as the North Texas Blockchain Alliance.