Congratulations to my valued client Richie Etwaru on the publication of his groundbreaking new book, Blockchain: Trust Companies: Every Company Is at Risk of Being Disrupted by a Trusted Version of Itself. Everyone has heard about bitcoin – the new digital form of currency – but few people know about the revolutionary protocol underlying bitcoin and many other advances in ledgerkeeping.
More than anything else, blockchain promises to permanently alter the way we view the problem – and promise – of trust in contractual relationships. This easy-to-read book describes the evolution from distrust to trusted commerce driven by blockchain, as finance, identity, reputation, inventory, market, agreement, and cooperate data sets sequentially evolve through blockchain, first becoming trusted data sets, then becoming data sets that enable transparent consensus at scale, and eventually becoming candidate data sets for smart contracts to transact on autonomously.
For example, remember the Enron accounting scandal? The fraud was made possible by the inherent secrecy of corporate ledgers. They could be altered and hidden. Blockchain ledgers cannot be altered because every version of the ledger is preserved forever as long as the ledger itself exists. In other words, you can’t erase or alter an entry because the previous version will still be there.
The author is QuintilesIMS’s [NYSE:Q] chief digital officer, where he is responsible for identifying, prioritizing and embedding technology innovation and digital trends into the vision, strategy, and operating model required to support the growth of our Global Technology Solutions business unit.
Prior to joining QuintilesIMS in April 2015 from Cegedim, Richie was Executive Director and Head of Innovation and Transformation at UBS Wealth Management, SVP and Divisional CIO for Lehman Brothers, and has co-founded and exited prior technology ventures.
He holds multiple international patents, Bachelor of Science in Management and Information Systems from the City University of New York, MBA from the University of Phoenix, and is completing his PhD in organizational leadership and design.
- Thomas Hauck is a leading professional ghostwriter and book editor serving both emerging and published authors of fiction and non-fiction.