"Only a child sees things with perfect clarity, because it hasn't developed all those filters which prevent us from seeing things that we don't expect to see." – Douglas Adams
In an opinion piece, Arno Laeven, consultant and former blockchain lead for Philips, argues that trying to adapt blockchain technology to legacy systems is missing out on the bigger potential.
Likening the effort to trying to fit a round peg into a square hole, he believes that applying a decentralized technology to current process-centric systems will produce disappointing results.
This conflict is particularly apparent, he points out, in the sector of healthcare. The current IT systems were designed with the organization and not the patient in mind. For this reason, Arno warns, most attempts to give patients control over their health records are doomed to fail.
Unless they can change the design strategy, that is. Rather than use blockchain technology as a type of band-aid, Arno urges enterprises to reflect on what "decentralized" means for their business. The result could be a new approach to innovation.
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Wait, there's more:
State Bank of India Launches New Blockchain Finance Consortium According to local news outlets, IBM and Microsoft will provide technical assistance as India's largest bank explores ways to use the blockchain to reduce fraud and improve operational efficiency. Read more.
Sberbank CEO: Commercial Blockchains Just Two Years Away In new statements today, the CEO of Russia's largest bank confirmed his bullish stance on enterprise blockchain, saying that he expects commercial applications within a short time horizon. The bank is developing its own applications of the technology within a working group led by government representatives. Read more.
Financial Giant Fidelity Seeks Patent for Blockchain Voting System Fidelity Investments has applied for a patent for a "crypto-voting apparatus", which could be used for authenticating voters and processing fair elections. The patent also outlines a geo-tracking feature which could potentially help to resettle refugees. Read more.
ASX CEO Expresses New Confidence in Blockchain Post-Trade Tests At a presentation this week, Dominic Stevens revealed that the Australian company will increase its investment in DLT with a view to becoming the first stock exchange in the world to implement an upgrade of its post-trade services using the technology. Read more.
Is Bitcoin Forming a New Price Floor at $1,000? Bitcoin has now been trading above $1,000 for a few days, although market analysts have explained to CoinDesk that the price needs to remain above that level for a while longer before it can be considered a new support. Read more.
Austrian Utility Giant Trials Blockchain Energy Trading Wien Energie, Austria's largest utility conglomerate, is working with BTL Group and EY's Austrian team to develop a system for tracking energy assets. Read more.
Commonwealth Bank Plans More Blockchain Investments in 2017 One of Australia's largest banks has pledged to continue investing in blockchain, as part of its planned $1bn spend on technology in 2017. Read more.
Bitcoin Investor Roger Ver to Push for OKCoin Liquidation in Court The exchange, one of the largest in China, allegedly failed to respond to demand for payment of the $570,000 awarded to Roger Ver last November in his ongoing court case against the firm's Hong Kong subsidiary. According to Ver's attorney, the next step is a request for liquidation in a bid to recover the funds. Read more.
Coin.mx Bitcoin Exchange Trial Begins in New York Representatives for the two plaintiffs – Yuri Lebedev and Trevon Gross – portrayed their clients as unwitting accomplices in a case involving bribery, money laundering and hacking. Read more.
Why Bigger Might Not Be Better For Bitcoin Scaling A new proposal has emerged that turns the bitcoin scaling debate on its head. CoinDesk spoke to its creator, Luke Dashjr, who believes that a block size decrease would ensure the health of the node network, necessary to maintain decentralization. Read more.
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