Bitcoin Watch – Blockchain: What It Is and Why It Matters with ConsenSys, Managing Director, Lory Kehoe

5 May, 2019

Speaking at the CAPA Airline Leader Summit last week, ConsenSys, Managing Director, Lory Kehoe gave a clear and concise keynote describing exactly what blockchain is and more importantly why it matters. Below is a snapshot of some of the key thoughts from Lory:

  • Blockchain is about "exchanging value on a person to person or business without going through an intermediary". There is a "huge amount of noise" around blockchain, "some is warranted, some is not";
  • Ethereum is a "programmable blockchain" which allows creation of applications on top of the base blockchain;
  • Blockchain is "the next internet";
  • Centralised characteristic allows a tamper proof, robust data set;
  • Millennials like things that are "free, perfect and now". "That's the expectations millennials have", he said, adding it's not always easy for business to get this right;
  • Blockchain "has not been proven to be compromised once in the past 10 years";
  • Blockchain patents have grown 200% between 2015 and 2017, including over 9000 IBM patents and 50 Bank of America patents;
  • Blockchain business raised 20bn in funding for 2017, up from 7bn in 2016;
  • Tokenisation is set to be "one of the biggest transformations in technology";
  • "Technology is transforming every industry", but Blockchain is specifically going to "change the aviation industry" in the next 2 to 3 years.

Stay updated here with how the cryptocurrency is tracking:

baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=BTC&tsyms=USD'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })();