Part 9 of the ten-part series on Digital Transformation Debt expands upon the post-Covid-19 Decentralized World's emergence. Decentralization is achieved through Blockchains and Blockchain solutions. All the Bitcoin transactions are recorded in the distributed, replicated, and decentralized Blockchain of Bitcoin. There is not one single "Blockchain." There are many Blockchains and in different categories. Ethereum, for instance, has its Blockchain. Variants of Bitcoin, which have "forked" for various reasons, have their Blockchain.
Blockchain is the enabler of the Decentralization trend. This article covers the Blockchain applications, trends, and architecture - especially in the post-Covid-19 era for digital transformation.
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IPAoT is the next phase in the evolution of IoT! Connectivity of devices in our homes, offices, and industries is ubiquitous. Connectivity is exploding. Several technologies such as 5G, Cloud, Blockchain, and AI are critical catalysts in the pervasiveness of robust and pragmatic solutions with IoT. But the glue that ties it together and connects IoT devices to people, enterprises, and trading partners is Process Automation.
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Decentralization and its impact on organizations as well as business transactions came through loud and clear throughout the conference. Examples of pragmatic applications with disintermediated interactions spanned healthcare, financial services, sports, education, government, non-profit, beauty, industrial applications and many more. A number of presenters emphasized the new era of decentralization with an ideology that empowers communities vs. centralized greedy brokers.
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The impact on Organizational Culture is one of the most fascinating realities of the digital era. Digital technologies, including Blockchain, are just enablers of cultural trends that are transforming all demographics at an accelerated rate. Culture is always more important and impactful than pure digital technologies, as impressive as the latter are. The potential cultural impacts on individuals as well as organizations are tremendous. In order to succeed and innovate with digitization, transformation best practices should challenge long established cultural norms.
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The decentralized ledger technology underlying cryptocurrencies – Blockchain – is becoming a defacto solution for many peer-to-peer applications.
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