There’s much talk about blockchain and cryptocurrencies, but for those not deeply immersed in digital, just what they are, how they work and why they matter may not be immediately obvious. To shed some light on these questions, we talk to Yaroslav Writtle, who is developing the Fintech practice, exploring the relationship between the blockchain and cryptocurrencies and why blockchain is a revolutionary technology.
As Yaroslav explains, while there are some parallels between today’s hype around blockchain and the dot com boom of the late ‘90s, it’s also true that blockchain technology has applications that go far beyond cryptocurrencies. In fact, he argues, it has the potential to revolutionise industries and economies worldwide because it promises to reduce the ever-growing complexity that surrounds the millions of contracts, transactions and agreements that are made globally every day.
So although we may be in the very earliest stages of the adoption curve, Yaroslav believes that blockchain champions will emerge over the coming years that will become the next Amazons, Facebooks and Paypals.
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