Blokchain is not just a technology, but also a sociological innovation

Blokchain is Not Just a Technology, But Also a Sociological Innovation


Representatives of the largest companies in the field of financial consulting radically changed their views on the subject of Blokchain technology.

During the conference “Technology Tools for Today” (T3), which was held in Fort Lauderdale, Florida, February 6-9, the general opinion of representatives of this industry can be summarized as a Blokchain – it is a “sociological innovation”.

Leading economist of Willis Towers Watson, Magdalena Ramada, spoke about this new technology:

Blokchain is a sociological innovation. This is a technological process, but it allows you to work with values ​​on the Internet in a way that was completely unavailable earlier.

The companies of the traditional financial industry and banks have been studying the possibilities offered by Blokchain technology for quite some time, but the impact of this technology on society is rarely mentioned.

In their studies, financial institutions focus on private Blokchain networks or distributed registry technologies, over which they still plan to perform centralized control.

For example, yesterday we reported that the CME Group, which launched bitcoin futures in December 2017, applied for a patent system that would change the rules of the functioning of the Blokchain without consensus among all members of the network.

And in September of last year Accenture acquired a patent for what the company called “editable Blokchain ” technology.

But despite all these nuances, business consultants of the highest level have finally begun to realize what the technology of Blokchain actually carries. As commented by Rick Edelman, founder and CEO of Edelman Financial Services:

Anyone who stands between the buyer and the seller has left, so the stockbrokers are gone, the mortgage brokers are gone, the ticket sellers are gone.

Anyone who was this mediator, has become obsolete through the fault of the Blokchain -technology.

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