While Bitcoin continues to tease and divide financial experts, there’s one aspect of cryptocurrency that’s really exciting businesses.
Blockchain – the technology which underpins Bitcoin – is transforming how some industries work.
And one in particular could be revolutionized by it.
CGTN’s Phil Lavelle reports.
Blockchain is the word of the moment. Complex, sure, but it’s transforming real estate markets, shipping, banking, healthcare.
Next stop: oil and gas.
Petroteq is one of North America’s largest oil producers It’s putting large chunks of money into blockchain.
There are three reasons blockchain is being touted as the future: Firstly, it’s a technology that’s ideal for those situations where permanent, checkable records are needed.
Secondly, it’s open source. It’s not as if this is something owned by one company trying to convince others to buy into it. Anybody can access blockchain.
And third, there’s nothing investors love more than the words ‘next big thing’. And there’s certainly a lot of buzz around blockchain right now.