2017 prediction 4 – Blockchain and the arrival of digital disintermediation

Figure 4 – Blockchain Smart Contract example

Source: ITCandor, 2017

My fourth prediction is that Blockchain systems will create significant changes in the way citizens, consumers and businesses exchange and pay for products.

Users and vendors should consider joining one of the 3 current development groups (BitCoin, Ethereum or Hyperledger) to simplify transaction processes – improving efficiency, reducing settlement times and reducing costs at the same time. Circumventing the human intermediaries in these ‘systems of trusted transactions’, (see Figure) blockchain services will reduce the current employment levels in a number of industries including stock trading, banking, currency exchanges, estate agencies among other. I’ll be sizing and forecasting blockchain as part of implementation services, PaaS, IaaS and other software classes, although (like the Internet) it’s going to be hard to measure the uptake of what is essentially a programming and application style.

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