BitNation BitNation
BitNation BitNation
Provenance Provenance

Preview: Blockchain Consumerism

25 : 01 : 2016 Blockchain : Transparency : Provenance

Global – Still in its infancy, the blockchain has the  potential to cut out financial institutions and third parties in the selling of goods and services.

  • The blockchain is a distributed database that is held across a network and stores data in blocks
  • Blockchain technology has the potential to disrupt the way that brands sell goods and services

At its base level, the blockchain is a database, but unlike other databases, its unique features make it immutable, highly secure and fully decentralised.

‘The blockchain is an enabling technology,’ explains Dan Burrus, futurist and founder of Burrus Research. ‘This means that you don’t need a third party any more. The network itself replaces the third-party institution. Therein lies the disruption. Whenever there is a third party involved to produce a transaction, the blockchain could replace it.’

We are beginning to see how companies are enabling brands to create a form of unprecedented transparency using blockchain technology. Verisart is one such company, which plans to enable artists and collectors to certify, verify and document their works without the need for a middle man.

The Big Picture

For more on how blockchain technology could bring on the next wave of transparency, read our Blockchain Consumerism microtrend.

You have 1 free News articles remaining. Sign up to one of our membership packages from just £100 a month.
View Subscription Offers Sign in

What do we use cookies for?

We use cookies to enable the use of our platform’s paid features and to analyse our traffic. No personal data, including your IP address, is stored and we do not sell data to third parties.

Learn more