Blockchain tipped to transform boring business operations

Speaking ahead of a session to define opportunities for the technology, Chan said blockchain had the potential to impact a wide number of sectors, arguing companies with the lowest usage of digital technology had the most to gain from adopting it. Chan’s company advises companies on the use of blockchain technology.

“Blockchain impacts the most boring parts of operations,” Chan said. “However, given these boring parts create the majority of inefficiencies in all sectors, it would make sense that perhaps the most inefficient sectors – even those that have barely gone digital – will stand to gain the most. The question really is which sectors are ready and capable of adopting the technology.”

Chan noted the keys to success implementing the technology – which has become somewhat of a buzzword in recent years – include scalability and sustainability. She added executives need to “measure impact, not the tool,” as “even the most simple tools can solve large and complex problems”.

Rosanna Chan is speaking at the What is Blockchain session, today at 13:00 at Concourse 152.