The Blockchain Transformation: How Blockchain Enabled Digital Transformation Will Change Your Business, Your Industry, and the World
From his forthcoming book of the same title:
The world will change more in the next 5 – 10 years than it has in the past fifty. And perhaps no technology will drive that change more than Blockchain. It will affect every organization in every industry– just as the Internet has. Executives are becoming aware that Blockchain is important, but it is still not well understood by most.
The enabling technology underlying the digital currency Bitcoin, Blockchain lets people and businesses have trustworthy interactions without requiring costly third party intermediaries. They can create and maintain cryptographically secure, completely immutable, totally verifiable records of transactions, ownership of assets, authentication of identity, exchange of digital currencies, and smart contracts.
Smart Contracts are created using computer code on a Blockchain rather than written language. Like a traditional legal document, a Smart Contract defines rules and consequences, stating the obligations, benefits, and penalties for each party in given situations. But unlike conventional contracts, as computer programs, Smart Contracts also can receive and process information and take actions as needed – including the ability to electronically execute and enforce contractual commitments in real-time.
Blockchain technologies extend the concept of Digital Transformation beyond individual process and specific geographical locations. They enable the Digital Transformation of entire business and social ecosystems.
Legal Implications of Blockchains, Smart Contracts, and Digital Transformation
Digital Transformation will change the world more in the next 5 – 10 years than it’s changed in the past twenty. And perhaps no technology will drive that change more than Blockchain. Combined with such other emerging technologies as Artificial Intelligence (AI), the Internet of Things (IoT), 3D Printing, and Augmented / Virtual Reality (AR/VR), Blockchain is enabling the Digital Transformation of business ecosystems from financial services to energy to healthcare to supply chains around the world.
No industry, process, or profession is immune to the impacts of Digital Transformation. And legal processes themselves can also be digitally transformed – promising great benefits in speed, costs, risk management, and certainty of legal outcomes. AI is already dramatically increasing partner and associate productivity at leading firms. For example, cases that were previously economically untenable become viable when AI can be used to automate the review of thousands or millions of documents.
Businesses are increasingly aware that Blockchain, and the Smart Contracts it makes possible, constitute an important emerging technology, but neither are yet well understood by most executives – including in-house legal professionals. Smart Contracts are created using computer code rather than written language. Like a traditional legal document, a Smart Contract defines rules and consequences, stating the obligations, benefits, and penalties for each party in given situations.
But unlike conventional contracts, as computer programs, Smart Contracts also can receive and process information and take actions as needed - including the ability to electronically execute and enforce contractual commitments in real-time. And in the near future, AI-enabled Intelligent Agents will be able to create and execute Smart Contracts on behalf of their organizations!
Corporate executives must understand the impact of Blockchain and Smart Contracts on their businesses. And they must understand both their legal implications and how they will be able to and will need to work differently with their law firms in the rapidly emerging digital legal environment.
As Executive Director of the American Blockchain Council, Jack Shaw is a leading expert on Blockchain. He has also served as Vice President of Commercial Systems for a leading provider of AI technologies. Thus, he is one of the few people with a deep understanding of both AI and Blockchain. He also has been voted one of the world’s Top 25 Professional Speakers for 2017 in an international poll of over 27,000 meeting planners, conference attendees, and corporate executives.
The Blockchain Transformation of Accounting and Auditing
Digital Transformation will change the world more in the next 10 years than it’s changed in the past fifty. And perhaps no technology will drive that change more than Blockchain. Blockchain is enabling the Digital Transformation of business ecosystems from financial services to energy to supply chains around the world. No industry, process, or profession is immune to the impacts of Digital Transformation – least of all CPA’s.
CPA firms and corporate accountants and auditors are increasingly aware that Blockchain is an important emerging technology, but it is still not yet well understood by most accounting professionals. Blockchain technologies promise to finally make near real-time accounting and Continuous Auditing truly viable.
But the implications of Blockchain go far beyond just how traditional accounting services are delivered. CPA firms must understand the impact of Blockchain on their organizations and on the overall Financial Ecosystem. And they must understand how Blockchain will impact their clients’ industries. Specifically, they will have to ask themselves two key questions: -How do we stay a step ahead of our clients and help them adapt to inevitable changes? -How do we leverage Blockchain technologies to deliver more value more productively?
Understanding Blockchains and the Digital Transformation of Healthcare
Digital Transformation will change the world more in the next 5 – 10 years than it’s changed in the past twenty. And perhaps no technology will drive that change more than Blockchain. Blockchain is enabling the Digital Transformation of business ecosystems from financial services to energy to supply chains around the world. No industry, process, or profession is immune to the impacts of Digital Transformation – least of all healthcare.
Healthcare providers, payors, suppliers, and technology companies are increasingly aware that Blockchain is an important emerging technology, but it is still not yet well understood by most healthcare professionals. Blockchain technologies promise to finally make Patient Mediated Health Data Exchange truly viable by providing patients with self-sovereign, patient-centered Electronic Healthcare Records.
But the implications of Blockchain for healthcare go far beyond just the EHR. Areas that Blockchain will help to dramatically transform over the next few years include:
Digital Transformation: Rethinking Your Business Ecosystem
Digital Transformation is one of the hottest topics of discussion in C-Suites around the world – and with good reason. Executives are facing the rising expectations of the connected consumer; the revolutionary potential of such emerging technologies as the Internet of Things, Blockchain, Artificial Intelligence, and 3D Printing; and continued pressure from competitors and the market – simultaneously!
The world will change more in the next ten years than it has in the past fifty. Digital Transformation is a logical strategic response to these challenges and opportunities. But, there is much misunderstanding as to what Digital Transformation actually is. Perhaps the most widely held misconception about Digital Transformation is that Digital Transformation is the use of digital technologies to connect the people and systems within the organization to one another and to the appropriate people and systems outside the organization. This is a worthy goal, and one with great benefits for the organizations and their people. But, it’s not Digital Transformation.
Digital Transformation is a fundamental rethinking of the underlying business model –within the organization and in the broader business ecosystems of which it is a part. To achieve true Digital Transformation, you must first understand the real value proposition. It’s not just about implementing the technology. It’s about rethinking the business model to provide customers a consistently great experience and outstanding value.
One of the best examples of Digital Transformation is the way in which Steve Jobs and Apple transformed the music industry over the past decade. The old record stores and the distribution systems which supplied them were supplanted by iTunes and the Internet. Traditional audio playback devices such as turntables and CD players were replaced by internet enabled mobile devices.
The opportunity for you and your organization is to apply the same concepts to digitally transforming your business and industry. But, you can’t achieve Digital Transformation by starting with today’s business model and making incremental changes to it. You can’t get there from here.
In his presentation, Digital Strategist, Technology Futurist, author, and consultant Jack Shaw will lay out a scenario for a digitally transformed ecosystem in your industry and describe the enabling emerging technologies. Then he’ll discuss the steps your business can take to successfully plan for and implement your Digital Transformation.
Are You Ready for the Internet of Things – and the Future of Everything?
Of course you’ve heard of the Internet of Things. Moving beyond computers and communications devices, we’ll append chips to some other high-value objects that will allow us to also receive information from and about them. That, in turn will allow us to perform some analyses to better utilize those items. Sounds useful for a few specialized industrial applications, but really, how could that affect our business? Right? Wrong!
The Internet of Things (IoT) is a critical component of a fundamental shift in human history. Enabling the IoT means not merely appending, but embedding sensors, simple processors, and communications capabilities into an ever widening array of objects of all kinds. Doing so will provide a critical link between the digital and physical worlds. With the IoT, we’ll no longer have to capture information about physical objects, they’ll report on themselves – their location, status, condition, and environment.
Experts estimate that, by 2020, anywhere from 50 billion to 200 billion “Things” will be part of the IoT. This will mean an exponential increase in data to be analyzed. Our digital infrastructures will have to rapidly expand to accommodate this torrent of data. But, by doing so, we’ll develop integrated digital / physical ecosystems that will respond to our needs, in many cases, before we even recognize them.
And this definition of the Internet of Things is just the surface manifestation. With Cloud Computing, complex analytical processes can happen in the Cloud – not within the “Thing” itself. 3D Printing will enable us to manufacture IoT enabled objects and repair, replicate, or replace them quickly and at low cost. And Intelligent Agent technologies will manage the distribution, deployment, and utilization of those objects far faster and more efficiently than our current systems and processes could ever hope to.
The Internet of Things will impact every industry from manufacturing to retail, from healthcare to financial services, and from service industries to governments and not for profits. If your organization makes, distributes, buys, sells or uses tangible objects of any kind, you’ll be part of the Internet of Things.
Technology Futurist Jack Shaw has been helping people and organizations understand and plan for the Internet of Things and the broader ecosystems it helps to compose for years. Watch and listen as he helps your team understand the implications for your business and industry, and as he helps you to accelerate the strategic planning process you’ll need to gain the maximum benefits from the Internet of Things going forward.
Artificial Intelligence- Business Systems and Processes That Think for Themselves
From Watson, to Siri, to Cortana, and Alexa, we hear more and about Artificial Intelligence (AI). But what we are seeing now is just the tip of the iceberg compared to what is coming over the next few years. Intelligent Systems for Data, Discovery, and Decision Management will utterly transform business, commerce, and society.
Self-optimizing production scheduling, autonomic supply chains, and self-configuring business ecosystems are just a few examples of Intelligent Systems that will shake the world. But, you don’t have to be caught unprepared.
Jack Shaw, industry executive, consultant, and author of three books, has been accurately predicting advances in business technology for over thirty years. Having spent years leading commercial systems for one of the most advanced providers of AI, Jack is an expert on the business applications of Intelligent Systems.
Jack will discuss such AI technologies as Machine Learning, Natural Language Processing, and Pattern Recognition. And, he’ll explore how AI is combining with such other emerging technologies as the Internet of Things, Blockchain, and even 3D Printing to digitally transform key business processes and even entire business ecosystems.
Equally importantly, he’ll act as your guide to the future evolution of business ecosystems – showing how the integration of advanced technologies and sophisticated business processes will transform business in the future.
Join us as he explains intelligent systems and what your organizations must do now, and can do to plan for the future, to take full advantage of the most dynamic, breathtaking set of business technologies yet.
3D Printing – The Next Industrial Revolution
3D Printing, also referred to as Additive Manufacturing, is more than a new manufacturing technique. There are powerful economic incentives for adopting Additive Manufacturing on its own.
But, when combined with other emerging technologies such as the Internet of Things, Blockchain, and Intelligent Systems; 3D Printing manifests as a powerful economic stimulant for manufacturers, supply chains, and the global economy.
In this presentation Jack Shaw, voted one of the world’s Top 5 Technology Futurists, addresses the What, Why, When, Where, and How of 3D Printing, shows the impact it is already having, and explores the keystone role it will play in the digital economy of the 2020’s.
3D Printing – What?
Why Book Jack Shaw?
Jack Shaw is Co-Founder and Executive Director of the American Blockchain Council. As such, he is a leading expert on the strategic business implications of Blockchain technology who has spoken and consulted on Blockchain around the world.
He is a world renowned Keynote Speaker. He was recently voted one of the World’s Top 25 Professional Speakers by over 27,000 meetings planners, executives and conference attendees – the only Technology speaker to be accorded this recognition.
Jack has been a Technology Futurist for over 30 years – helping others to understand the impact of emerging technologies. In addition to Blockchain, he is widely recognized for his expertise in such breakthrough business technologies as: