Blockchain in Development, Part I : A New Mechanism of 'Trust'?

Blockchain in Development, Part I : A New Mechanism of 'Trust'?

Blockchain is an exciting new technology that may prove to be a radical innovation - similar to technologies such as the steam engine and the Internet that triggered previous industrial revolutions - with the power to disrupt existing economic and...

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Bibliographic Details
Main Author: Niforos, Marina
Format: Brief
Language:English
Published: International Finance Corporation, Washington, DC 2018
Subjects:
BLOCKCHAIN
DISTRIBUTED LEDGER TECHNOLOGY
FINANCIAL TECHNOLOGY
INNOVATION
EMERGING MARKET ECONOMIES
TECHNOLOGY ADOPTION
TRANSPARENCY
REGULATION
SCALABILITY
INTEROPERABILITY
DATA PRIVACY
DATA PROTECTION
SMART CONTRACTS
P2P TRANSFERS
AUTHENTICATION
REGISTRIES
Online Access:http://documents.worldbank.org/curated/en/511661502947718159/Blockchain-in-development-part-I-a-new-mechanism-of-trust
http://hdl.handle.net/10986/30366
id okr-10986-30366
recordtype oai_dc
spelling okr-10986-303662021-05-25T10:54:41Z Blockchain in Development, Part I : A New Mechanism of 'Trust'? Niforos, Marina BLOCKCHAIN DISTRIBUTED LEDGER TECHNOLOGY FINANCIAL TECHNOLOGY INNOVATION EMERGING MARKET ECONOMIES TECHNOLOGY ADOPTION TRANSPARENCY REGULATION SCALABILITY INTEROPERABILITY DATA PRIVACY DATA PROTECTION SMART CONTRACTS P2P TRANSFERS AUTHENTICATION REGISTRIES Blockchain is an exciting new technology that may prove to be a radical innovation - similar to technologies such as the steam engine and the Internet that triggered previous industrial revolutions - with the power to disrupt existing economic and business models. It has the potential to deliver productivity gains to multiple industries, from the financial sector to energy markets, supply chains, intellectual property management, virtual firms, the public sector, and beyond. Its ability to provide disintermediation, improve transparency, and increase auditability can significantly reduce transaction costs, introduce efficiency into existing value chains, challenge revenue models, and open new markets. And blockchain may prove particularly valuable in emerging market economies. Yet the technology is in its early stages of development and serious challenges and risks, both technical and regulatory, will need to be addressed before it achieves widespread adoption. Questions remain about blockchain’s scalability, interoperability, security, transition costs, data privacy, and governance. And business leaders and policy makers will need to think long and hard about when and under what conditions a blockchain initiative may be warranted. 2018-09-06T19:25:09Z 2018-09-06T19:25:09Z 2017-07 Brief http://documents.worldbank.org/curated/en/511661502947718159/Blockchain-in-development-part-I-a-new-mechanism-of-trust http://hdl.handle.net/10986/30366 English EMCompass,no. 40; CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo International Finance Corporation International Finance Corporation, Washington, DC Publications & Research Publications & Research :: Brief
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic BLOCKCHAIN
DISTRIBUTED LEDGER TECHNOLOGY
FINANCIAL TECHNOLOGY
INNOVATION
EMERGING MARKET ECONOMIES
TECHNOLOGY ADOPTION
TRANSPARENCY
REGULATION
SCALABILITY
INTEROPERABILITY
DATA PRIVACY
DATA PROTECTION
SMART CONTRACTS
P2P TRANSFERS
AUTHENTICATION
REGISTRIES
spellingShingle BLOCKCHAIN
DISTRIBUTED LEDGER TECHNOLOGY
FINANCIAL TECHNOLOGY
INNOVATION
EMERGING MARKET ECONOMIES
TECHNOLOGY ADOPTION
TRANSPARENCY
REGULATION
SCALABILITY
INTEROPERABILITY
DATA PRIVACY
DATA PROTECTION
SMART CONTRACTS
P2P TRANSFERS
AUTHENTICATION
REGISTRIES
Niforos, Marina
Blockchain in Development, Part I : A New Mechanism of 'Trust'?
relation EMCompass,no. 40;
description Blockchain is an exciting new technology that may prove to be a radical innovation - similar to technologies such as the steam engine and the Internet that triggered previous industrial revolutions - with the power to disrupt existing economic and business models. It has the potential to deliver productivity gains to multiple industries, from the financial sector to energy markets, supply chains, intellectual property management, virtual firms, the public sector, and beyond. Its ability to provide disintermediation, improve transparency, and increase auditability can significantly reduce transaction costs, introduce efficiency into existing value chains, challenge revenue models, and open new markets. And blockchain may prove particularly valuable in emerging market economies. Yet the technology is in its early stages of development and serious challenges and risks, both technical and regulatory, will need to be addressed before it achieves widespread adoption. Questions remain about blockchain’s scalability, interoperability, security, transition costs, data privacy, and governance. And business leaders and policy makers will need to think long and hard about when and under what conditions a blockchain initiative may be warranted.
format Brief
author Niforos, Marina
author_facet Niforos, Marina
author_sort Niforos, Marina
title Blockchain in Development, Part I : A New Mechanism of 'Trust'?
title_short Blockchain in Development, Part I : A New Mechanism of 'Trust'?
title_full Blockchain in Development, Part I : A New Mechanism of 'Trust'?
title_fullStr Blockchain in Development, Part I : A New Mechanism of 'Trust'?
title_full_unstemmed Blockchain in Development, Part I : A New Mechanism of 'Trust'?
title_sort blockchain in development, part i : a new mechanism of 'trust'?
publisher International Finance Corporation, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/511661502947718159/Blockchain-in-development-part-I-a-new-mechanism-of-trust
http://hdl.handle.net/10986/30366
_version_ 1764471803403567104

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