Is it time blockchain ran against big tech in the enterprise election?

How enterprises could restore our confidence in digital society with blockchain.


The controversy over the US voting system wasn't a great advert for representative democracy – but it has created a strong argument for blockchain to restore our faith in the digital economy.

Democracy is a term that's often abused by those who supply technology to the modern enterprise. It's one of those weasel words, like agnostic, that's hijacked for marketing purposes and used in a completely different context to the standard definition.

A new academic study suggests that most enterprise systems are the complete opposite of empowering for the majority. Blockchain and social media represent two polarised ideologies that are competing for the heart of the enterprise. The outcome of this battle will determine what sort of a business culture we create for ourselves in the next five years, according to its author, Jean-Philippe Vergne, Associate Professor at the UCL School of Management.

If technology has 'democratised' business, is it time that enterprises tried a different system of government?

There's support for this argument from the private sector. Enterprises have an opportunity to provide leadership by example, says Michael Hudson, CEO of ledger specialist Bitstocks. There are too many controversies that could have been avoided, he says, and this makes him question why corruption can flourish. "It's because people want it to be," says Hudson. People will begin to suspect that corruption is there by design.

"You need to have a time lag in a system to allow human beings to meddle. But if they have hyper-efficiency and transparency through the Bitcoin blockchain, they can't tamper without leaving evidence," says Hudson, "it goes back to that age-old question - who benefits?"

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