A brief history of disruptive information technology
The story of Prometheus is one of the great fables from antiquity, and it still carries wisdom after thousands of years. For anyone unfamiliar, Prometheus was a mythical Titan in Ancient Greece who made man from clay and, despite stern warnings from the other gods, gave man fire. His punishment for giving man fire was to be bound eternally to a rock, and each day an eagle would come eat his liver from his body which would regenerate again overnight so that he could endure the same punishment the next day. At its core, Prometheus’ story is one of democratization: He took a powerful tool out....
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Bitcoin is often called “the most disruptive technology on the planet”. Now with the steady comeback of Bitcoin, why not keep with the trend of disrupting the status quo, and spend your BTC on some more ‘disruptive technologies’? A disruptive technology is defined as “an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leaders and alliances.” We looked at a number of innovative products that can be called “disruptive innovations”, all of which can be purchased via the disruptive technology....
Bitcoin and other cryptocurrencies are known for their decentralized architecture, and that's what made them famous in the first place. That might not remain the case for long. In real world scenario, the most powerful are those who have access to and control over information. Armed with the right information, one can easily control the economic and political outcomes in the world. The concept of decentralized currency lies in not empowering a single or a group of entities to exercise control over the flow of money and in turn the economy. The same holds good with Bitcoin too. As the....
Whenever a disruptive concept comes along, there are winners and losers. But things aren't so black-and-white with blockchain technology in the picture. A lot of people have been saying how the blockchain is much bigger than Bitcoin itself, and they are right for the most part. Even though the Bitcoin protocol is powered by blockchain technology, the capabilities of distributed ledgers are not just linked to the digital currency ecosystem. A recent report by Citi seems to be thinking along those same lines, although most of their use cases are still focused on the financial aspect. This....
The disruptive nature of blockchain technology is easy for people to conceptualize in the field of finance. T+3 interferes in traders being able to maximize earnings – payments shouldn’t take days to process while an email can be sent in seconds. As the first use case in many to come, finance is a perfect use for the blockchain. But a trend toward new use cases is emerging, and one industry that is ripe for optimization and increased efficiency using this technology is healthcare. Consider all the sensitive information that is associated with health: identity, diseases, treatments,....
The chief of one of the leading Australian banks recently called Bitcoin a "potentially disruptive" technology. Brian Hartzer, who took over as the CEO of Westpac Group in February, believes that the digital currency technologies could possibly disrupt the traditional banking systems in the long term. He acknowledged the endless possibilities blockchain - Bitcoin's underlying technology - could offer to revolutionize the financial services but, at the same time, expressed concerns over the "limitations and challenges" with it. "The development of the blockchain [will] certainly [have] a....