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Blockchain hype exposes areas to be wary about

Everyone is talking about blockchain but it still causes a lot of confusion. John Young, senior director and CTO of architecture and business evolution at Avaya, shares his views on everything from hype, to industry implications, to what businesses should be wary about.

 

Blockchain still causes a lot of confusion in the industry – what is the most important thing for companies to understand?

Blockchain is essentially a shared, distributed ledger technology that supports a publicly auditable record of immutably stored transactions. It can be used to dramatically transform business processes and the way in which different types of digital assets are managed. Although Blockchain has tremendous potential, it is still a nascent technology that is complex in nature and requires a multitude of different technology skillsets to properly deploy and support.

 

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