Blockchain technology has been described as the ultimate solution to several of the banking industry\u2019s largest inefficiencies. Ryan Zagone, an executive at a crypto-currency firm joked at a blockchain event \u201cit felt like blockchain would fix every financial problem and cure zika along the way. We\u2019re in a hype cycle.\u201d The theory and potential use cases of blockchain has created significant optimism among investors and executives. <\/p>\n
\tWhile there has been significant hype around the technology, there has been little success of its applications. To illustrate this, Ryan Zagone points to Vermont\u2019s failed implementation of blockchain to keep track of land titles. The core issue experienced in Vermont\u2019s implementation of blockchain is that the technology is too complex for practical in-house use. In the near future, it seems that the technology will only be adopted in areas where the complexity of blockchain is outweighed by its provided benefits. An example would be cross-border lending where mitigating the risk of dealing with untrusted parties will greatly increase their efficiency. Overall, blockchain has the potential to benefit several industries, but its complexity will make it difficult for the technology\u2019s wide spread adoption. <\/p>\n
Resource:<\/p>\n
http:\/\/fortune.com\/2016\/11\/02\/blockchain-failures-successes\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Blockchain technology has been described as the ultimate solution to several of the banking industry\u2019s largest inefficiencies. Ryan Zagone, an executive at a crypto-currency firm joked at a blockchain event \u201cit felt like blockchain would fix every financial problem and cure zika along the way. We\u2019re in a hype cycle.\u201d The theory and potential use … Continue reading Will Blockchain Technology Be Able to Live Up to the Hype?<\/span><\/a><\/p>\n","protected":false},"author":1300,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1640","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"cleahy","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/cleahy\/"},"qubely_comment":0,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Blockchain technology has been described as the ultimate solution to several of the banking industry\u2019s largest inefficiencies. Ryan Zagone, an executive at a crypto-currency firm joked at a blockchain event \u201cit felt like blockchain would fix every financial problem and cure zika along the way. We\u2019re in a hype cycle.\u201d The theory and potential use…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1300"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1640"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1640\/revisions"}],"predecessor-version":[{"id":1641,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1640\/revisions\/1641"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}