Gartner: Blockchain for the Masses by IBM – A Missed Opportunity?
It so happened that I was eating my cereal when Brigid McDermott, VP of IBM’s blockchain solutions, came on the air at CNBC. I didn’t feel the interview went well. I thought Brigid was fine but her prep and prose clearly were not simple enough for the average Jo. If we wanted to explain what blockchain was to a non-technician, I am not sure the following helped.
When asked to explain what this new technology is, here was Brigid’s explanation – “Blockchain is a trusted system of record. That’s all it is. It’s that simple. It means that when you want to share information with people who you know, but maybe you don’t totally trust, you can put them on [the block chain] and it can’t be changed. It’s like doing a crossword puzzle in pen.”
I dig the “crossword puzzle in pen” but little else told me much at all.
She did get to a key point: “It [blockchain] records it [information, or transactions] in such a way that everyone trusts the information”.
When asked to explain why blockchain is trusted and secure, here was Brigid’s explanation – It is down “to the way information is put on the chain and is stored with a hash.”
That lost me right there and I do have an idea for how it works. But only a technician would understand. Again, the simple idea that everyone on the network has a copy of all the transactions was not mentioned.
Read the entire article here, Blockchain for the Masses by IBM – A Missed Opportunity?
via the fine folks at Gartner