IDG Contributor Network: How the disruptive power of Blockchain could impact the digital economy

Throughout time, the single greatest creator of wealth in human history has been global trade, and market friction has been the greatest inhibitor to create wealth. Over the years, as businesses and processes have evolved and become more automated, the industry has overcome many different sources of friction.

The emergence of tools, institutions and rules of trust have mitigated potential business transactions risks, as well as technology innovations helped companies to eliminate their inefficiencies, although many business transactions remain inefficient, expensive and vulnerable until today. That’s where Blockchain comes to the life. This innovative technology, which creates a permanent, safe and transparent record of transactions, brings an incredible potential to obviate intractable inhibitors across many, if not all, industries.

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