Trust, Transfer, Settlement and Contract is all you need to contemplate to really “get” the deep significance of blockchain:
“Blockchain” is an idea, an economic system and a fast growing stack of technologies.
Blockchain’s value proposition is to make “resource allocation” more efficient on macro- and micro scale. That is a completely unique proposition, making blockchain a true Blue Ocean.
Resource allocation requires “Trust, Transfer and Settlement” — which blockchain delivers and decentralizes.
Trust, transfer and settlement are managed by a “Contract” — which blockchain digitizes and automates (Smart Contract).
Your organization is — at all levels — constantly engaged in the process of “contractually regulated interactive resource allocation”.
All you have to consider is that Trust, Transfer, Settlement and Contract really are the fundamental building blocks in virtually anything we do as a business and as a society — and presto … there you have the significance of blockchain. It is factually and truly addressing something completely fundamental…..namely the core of any kind of “Process”:
