The blockchain is not just technology, but the sociological innovation

The blockchain is not just technology, but the sociological innovation

Representatives of the largest companies in the field of financial Advisory services have radically changed their point of view about the blockchain technology.

During the conference, “Technology Tools for Today” (T3), which was held in Fort Lauderdale, Florida, 6-9 February, the General opinion of members of this industry can be summarized as the blockchain is “social innovation”.

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

The blockchain is a sociological innovation. It is a technological process, but it allows you to work with the values on the Internet in a manner that was totally inaccessible previously.

The representatives of the traditional financial industry and banks has long been engaged in the study of the possibilities offered by blockchain technology, but the impact of this technology on society is rarely mentioned.

In their research financial institutions focus on private networks or blockchain technology a distributed registry, which they still plan to implement centralized control.

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

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

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

Anyone who stands between the buyer and the seller is gone, so stock brokers are gone, the mortgage brokers are gone, the sellers of tickets are gone.

Anyone who was that mediator, is not the fault of the blockchain technology.

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