Let’s explore block-chain and the emergence of new “chained economy” because this great flood of 2020 will also set the stage of great metamorphisms creating a brand new ocean of billion new opportunities. Let’s learn to dive deeply.
Vocabulary has been changing with our changing world. A few decades ago the world was facing two brand new but never heard terms the “hardware and software”. Hardware was described as a ‘washing machine’ and ‘software’ was explained as the ‘soap and detergent. Still the concept was extremely complex to masses of senior executives of the period. The inquisitive embraced the new terminologies, adopted rapid transformation and survived, while others got erased from the chapters of business history. Hardware and software run our world today.
Since that period, no other word as powerful and mighty as “block-chain” has appeared on the global scene. A Blockchain is a distributed database that maintains a continuously-growing list of data records and those records are hardened against tampering and revision. Each block contains a timestamp and information linking it to a previous block. There are massive technological and qualified expert explanations available on this new frontier. The transformation is unstoppable and the speed is almost scary. If you never heard about block-chain platform till this moment you definitely are in a wrong office.
What will Bloc-Chain technology do?
Presently all of those highly educated, trained and experienced executives all over the world, currently nestled in corner and cushy offices have clear mandate to professionally manage and supervise daily transactions of financial and legal nature. Their prime mandate is to lend weight and credibility by their ‘physical presence’ so necessary to police the accuracy, diligence and integrity of such important paper work flow. Each of these transactions demands verification, with fiduciary execution and responsibilities. Hours and hours of work and personal interaction will suddenly be done by a single click with block-chain technologies.
What took days and weeks of formal meetings and face to face haggles will be replaced by instant push button. Financial transactions, such as processing and signing up of big and small loans, purchases of financial instruments, real-estate transactions, notarizations and legal paper chase, audits, and accounting functionalities and hundreds more of such serious functions of today will be taken over by buttons and clicks on mobile devices.
Come 2020 a highly efficient business world and a ‘chained economy’ will emerge.
- Guaranteed: the accuracies and efficiencies in all transactional procedures will have safeguards
- Instantaneous: the speed of tabulation, transactional execution will be instant and on global scale
- Elimination: the super expensive and sluggish bureaucracy of transactions will be eliminated
Decades ago only IATA certified Travel Agents meticulously wrote by hand multi-copy airline tickets and inserted miniscule flight and seats numbers, which were never to be questioned by flight attendants continents apart…now a click on a mobile phone does that while millions of highly skilled Travel Agents simply vanished in thin air. Just like massive armies of blue collar workers disappeared in robotized assembly lines all over the world, now technology has crept into the white collar workers and the corner offices. Block-chain technology is here and can be fully demonstrated in many styles and forms right now. It will come into full force by 2020 to become a key driver of the new corporate thinking.
There are hundreds of highly specific possible blockchain applications
The unemployed professional talents:
The new global age world has a lot to offer. These highly skilled and professionally trained experts can easily transform into ‘block-chain’ experts. They will be needed to develop new businesses and automate block-chain technology based upon transactional models. They will be able to create better society to fit new global age demands. Unfortunately this may only apply to a miniscule percentage because in order to succeed in this new environment, they will need to embrace the philosophy of the change. They will need to embrace and establish new creative services. This will demand in-depth understanding of the subject surrounded by global age entrepreneurial skills. Professionals with the bold, risky aptitudes needed to transform from the deluxe living comfort of large high price firms to independent expert warrior and new game changers will thrive in the Block-chain world.
Those who do not become the warriors of change will have to discover other alternatives. They might become consultants and advisors or maybe even opera singers or pet trainers. The most dynamic and critical field is the ‘extreme hobbyists’ where they can excel to new heights in their selected hobby. They will need to re-discover their true passions, what they love the most and advance their hobbies to a professional level deployed by global age commercialization and learn to live with technocalamity; where tsunami of free technologies allow new comers more commercial powers over already established mega corporations.
The corner office senior executives may become the new solo-warriors of technocalamity. They must understand all the new lingo, transformations paradigms and must be bold enough to walk out of crackling glass towers to their own custom built castles on the shores of new knowledge.
Cavemen were shown no mercy and were forced to accept the wheel
Shock Factor: Never in history has there been such a serious risk to senior professionals. The first lines of shock are the deniers. However, they will be pushed aside by the massive technocalamity. The second shock will be the emergence of totally unexpected new herds of game changers--out of the blue, this new group will capture the real moment by surprised and innovative deployment of ‘block-chain’ technology. This is what happened when the hardware and software revolution set in. The last will be the shocked masses of executives discovering brand new life styles and occupational activities. This transition can be a nice and smooth passage towards better enlightened agendas; deniers like cavemen will be shown no mercy and will be forced to accept the wheel.
Click Factor: There never was such a powerful click tool to make life easier and super efficient and super-inexpensive. Individuals and small medium size enterprise owners currently being pushed aside by slow moving procedures and bureaucracies on everything related to financial or legal transactions will find new avenues to success. Normally 5% of the paper chase takes 50% of the entrepreneur’s time seeking progress, where every delay adds new twists and new bills and frivolous charges to support ridiculous services added in an endless paper chase. The real cost efficiency shock comes when executive who were making long and twisted procedures to increase entanglement just to ensure their corner office views are challenged. The global age transformation and technocalamity will push to block chained economy and simple click solution.
The Chained Economy: A new awareness of new online global scale procedures will alter business thinking. Consider what Microsoft Word and Excel did decades ago to elementary office procedures in the secretarial pools. Entrepreneurial forces will enjoy the sudden elimination of procedural bureaucracies and create buoyancies in progressive economies.
- Super Efficient: Making timelines and cycles of business procedures super efficient
- Super Cheap: Making monstrous cost of legal and financial services unnecessary
- Super Performance: Making highly productive business performance via simplicity and speed
Questions: Which nation is leading in block-chain economy? Which nation can claim superiority or can demonstrate right trajectory to achieve global image supremacy on such powerhouse deployments? Which nation is having open National Dialogue on this topic to explore such possibilities? Which nations are supposed to simply miss the boat?
Questions: What are nations doing today to impact massive capacity building of small medium businesses business growth? How can they quadruple their exportability and innovative excellence?
Where are their resources to create and lead the world in nouveau entrepreneurialism?
Here is one timely analysis and a great example of INDIA for immediate actions surrounding economical and growth challenges;
Making the World Prosperous Again?
LinkedIn Feature: http://bit.ly/2cAOqsa
Beneficiaries: Common citizenry concerned with high transactional costs and procedural delays, plus entrepreneurial forces seeking high level efficiencies and newer super speed click platforms.
Enemies: Deniers and procedural bureaucracies where unnecessary ‘entanglements’ are rewarded.
Adjustments: become a blockchain expert, the more you know about complicated transactional procedures the easier it will become to become a chained economy player. Discover global age entrepreneurialism and start thinking of setting up local, national or global services. Study, research and embrace the tsunami. There is nothing to fear if you are future friendly. Chained economy is around the corner. Liberate the operations.
The author, Naseem Javed is a corporate philosopher and Founder of the Image Supremacy Movement.