Blockchain – survival of the fittest

Recently, I took part in a discussion on blockchain broadcast by Digital Leader’s DLTV team. Guided superbly by the BBC’s Kate Russell, myself and three others (Maja Zehavi, Anish Mohammed and John Bertrand) wandered through the latest thinking and future possibilities of the world of distributed ledgers.

And it left me with something really quite striking.

Blockchain is complicated – we know that. It relies on a vocabulary that includes sophisticated cryptographic terminology and brain-aching concepts around decentralised consensus models. And yet, the principles are beguilingly simple. Aside from the complexity of the solution, the concept of everyone involved in a transaction having open, trusted access to a distributed ledger is something that a rapidly expanding community are eagerly pursuing.

And it’s the speed at which this community is collaborating that is so striking. We are at very early days in the development of this technology. (Never mind the applications, many of the core protocols are still being debated.) Despite its formative state, research and development around blockchain is distinctively collaborative, with start-ups, big business, regulators and academia all openly sharing knowledge about what works and what doesn’t.

In the programme, one of my co-speakers, Anish described this as being ‘Evolutionary’, in a Darwinian sense. Progress is being made through collaborative experimentation and a form of natural selection that enables progress to be made at speed through ‘generations’ of iteration.

It’s an approach that reflects our digital times. The value of knowledge is now ephemeral. It’s the application of knowledge that is key. The accessibility of digital technology – be it blockchain or otherwise – invites us to develop new use cases, test solutions and refine them. Openly. Collaboratively. And rapidly.

And in the end the fittest ideas survive. ‘Distributed Digital Darwinism’ in action courtesy of the blockchain.

Why not watch the episode on YouTube? and read our latest thought leadership paper “Blockchain: Harnessing the Power of Distributed Ledgers”.

Sopra Steria is proud to support Digital Leaders – helping to organise and host digital salons for Digital Leaders Scotland and Digital Leaders Northern Ireland. Learn more about Digital Leaders.

What are your thoughts about blockchain? Leave a replay below or contact me by email.

Published by

Richard Potter

Innovation Director Sopra Steria UK (soprasteria.co.uk). Curious about the way we #innovate, the way we #communicate, the way we #work.

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