Prepare for Blockchain Disruption: The Basics and What It Means
Blockchain technology is founded on the basics of cryptography and has been used for years as the underpinning of Bitcoin and other cryptocurrencies. While it has obvious applications in the Financial Services industry for payments, Blockchain is a way of rethinking how we gain trust in transactions and documents of all kinds, from “smart contracts” to proxy votes. The system does not come without risk or pitfalls, such as a massive increase in computing power needs, vulnerabilities to cyber-attack, and a general lack of understanding or regulation.In this session, we will explore the basics of blockchain technology and how it provides inherent integrity through an open, distributed ledger. We will also outline some of its major benefits and risks, as well as potential applications across industries and processes.
Session objectives include:
- Understand the concept of blockchain
- Articulate the impact to industries and the Public Sector
- Outline the impact to the organization’s risk environment
- Describe how this changes the company’s internal control structure