Technology Trends – Blockchain
The first Technology Trends event for semester two started out strong with a presentation and discussion on Blockchain by Andrew Gillick from Brave New Coin. Blockchain is one of the Essential Eight technologies that are most likely to have a global impact in the near future, and Andrew really demonstrated the potential of Blockchain through his in-depth exploration of Blockchain and its trends in various areas.
Prior to Andrew’s presentation, a short video was shown, introducing what blockchain is, how it works and its benefits. Blockchain allows for data to be recorded without it being able to be tampered with, through ‘blocks’ of encrypted and decentralised data. It has the potential to have a large impact in recording data, particularly in the field of cryptocurrency such as bitcoin. This introduction was informative and allowed attendees to all be on the same page before it could really be dug into by Andrew.
Andrew focussed on many areas of blockchain and cryptocurrency in his presentation, focussing on its current trends in various sectors, as well as where blockchain could take us in the future. Topics discussed include: the demographics of cryptocurrency at regional and generational levels, financial benefits, the role Internet of Things and artificial intelligence (two of the other Essential Eight) can play in the field of blockchain, the potential of Blockchain as a Service (BaaS) to track the sales of goods, and ways to regulate blockchain. The questions asked by the audience at the end also explored further into blockchain.
It was interesting to learn how due to generational differences between baby boomers and millennials, we could shift from the current stock market to a cryptomarket. It was also interesting when Andrew delved into Japan and how they could be used to predict a global future with blockchain, what with the current popularity of cryptocurrency there, and their advanced blockchain legislation and management. Overall, he provided many interesting insights, inspiring attendees with the huge potential of blockchain in industry.
Discussion about blockchain continued over pizza and drinks, with many attendees networking with new people now informed and excited about the future of technology!