Blockchain may seem like an impenetrably complex, webbased technology. Decisionmakers are likely to know it exists, but often conflate it with cryptocurrencies and so may not be aware of its vital use as the superpower behind the new age of enterprise technology. Blockchain is a secure and intelligent digital means of doing business that is becoming increasingly invaluable to businesses.
Blockchain is the next logical step in the digital transformation of enterprise. Like any transformational factor, it has the power to touch all aspects of a firm’s operations. It can strengthen the long-term resilience of any business, but adopting this technology requires foresight from the leadership team and effective strategic planning.
“Blockchain is an underlying technology that can solve real-world problems for enterprises and governments,” says Alex Stein, conference director of the London Blockchain Conference. “There are lots of amazing use cases.”
The business case for blockchain
Stein cites an example in sustainable supply chain management. A fish, for instance, can be logged on to a blockchain the moment it is plucked from the sea. It can then be tracked through the fishing vessel’s port, across the marketplace and along every step of its journey to a supermarket’s fish counter. That creates a huge amount of rich, previously ungraspable data that can help supply chain managers make better decisions.
In healthcare, a blockchain can support a patient’s progress through the hands of several caregivers without fear of a loss of privacy. Meanwhile, manufacturers can use blockchains to monitor efficiency in factories and warehouses. And logistics operators can use them to get a clearer view of products’ movements as they’re shipped around the globe.
“The reality is that everyone’s a technologist now. Everyone is a data person, from the CEO down,” says Stein, noting that all businesses have had to undergo some form of digital transformation in recent years. “The next wave of transformation is going to be about harnessing blockchain technology.”
While new tech is part and parcel of any digital transformation, it serves only as an enabler. According to Gartner, almost half (46%) of business leaders agree that the CEO is responsible for digital transformation strategy. Delivering it inevitably falls to the technology chief (49% agree).
The reality is that everyone’s a technologist now. Everyone is a data person, from the CEO down
For business leaders to embrace blockchain as the future of digital transformation, they must first understand the technology and how it applies to corporate strategy and decision-making. The London Blockchain Conference is designed to unite a community of leaders from all business functions and help them appreciate the potential of enterprise-grade technology built on a public blockchain.
“We need people to stop thinking about blockchain as crypto,” Stein says. “We want to move the needle on the adoption of blockchain by enterprise and government because we see it as the natural next step in the global digital transformation.”
To help this shift in mindset, the conference focuses on a range of topics designed to upskill and inform attendees. The technical track, for example, features ‘Blockchain 101’ which is a primer on blockchain’s purpose as a technology infrastructure.
The discussion will then evolve to explore the practical impact blockchain can have on corporate technology, including a focus on its usefulness in delivering AI programmes.
Making data smart and connected
During previous waves of digital transformation, some firms digitalised their operations and adopted on-premises tech where none had existed before, while others moved their data and operations into the cloud. Data security did improve with this transition, but a shift to blockchain promises to ensure that corporate data is smart, connected and protected.
Many people feel that blockchain is a vital enabler of the secure and responsible development of AI. Indeed, when the two technologies are combined, AI becomes more efficient, auditable and accountable.
To remain agile, resilient and secure in the next era of digital operations, companies must embrace blockchain. The opportunity to take the next bold steps and ensure a stronger, more resilient future for their data is ripe.
Business leaders may have to change how they think about data management to take full advantage of blockchain. But, by embracing a more agile data strategy, they will reap the benefits in terms of scalability, security and versatility.
Blockchain is the the natural next step in the global digital transformation
A conference track on cybersecurity will provide essential insights into how government organisations and businesses can improve trust in their cybersecurity, develop a decentralised approach to identity and access management and eliminate the vulnerabilities in their digital ecosystems.
The next steps in blockchain adoption
In some cases, this step towards digital resilience will require employers to learn more about enterprise-level blockchain. For that reason, the London Blockchain Conference offers sessions designed to educate people about the technology. It will feature guidance to help organisations achieve regulatory compliance with confidence. There also will be a strong focus on cybersecurity and the tools to ensure it.
The web3 era - in which digital information becomes intelligent, adaptive and resilient - is based on blockchain. For attendees who have already made the next step in digital transformation, the conference will help them to expand their networks and build a community of people who are proud of their work to develop enterprise blockchain solutions. A focus on the web3 revolution will explore the vast opportunities for companies already operating blockchain technologies.
The conference will not only assemble leading thinkers in the blockchain field. By bringing industry leaders from sectors including AI, fintech, the internet of things and government together, it will foster innovation and enable organisations to gather the tools they’ll require to succeed in the web3 era and beyond.
The London Blockchain Conference takes place on 21-23 May at ExCel London
