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The future of blockchain

Technology has transformed how we work, play and do business. It has provided new solutions to old problems, disrupted traditional business models and helped us become more efficient. This report from CA ANZ explores the implications for the industry of blockchain.

The speed and scale of this change are not abating. New developments are still being introduced and applied – and this creates a significant dividend for Australia and New Zealand. A report published by Deloitte Access Economics in 2015 estimated that the digital economy in Australia could be worth A$139 billion by 2020.

This growth will be underpinned by new technologies. One of these is distributed ledger technology and its most common application – blockchain. The World Economic Forum lists blockchain as one of the top ten emerging technologies.

Distributed ledger technology (of which blockchain is an example) uses cryptographic tools and a distributed consensus process to create a significant innovation in traditional record keeping.

To find out more, click the button below to download the full report by CA ANZ.

 

This article was first published by Chartered Accountants Australia New Zealand. You can read the original article here