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CLEVELAND, Ohio – Blockchain is "the architecture that drives the world," AT & T CEO John Donovan told us at the Blockland Solutions conference on Monday, the first time he spoke publicly about technology.
The Blockland initiative aims to make Cleveland a leader in blockchain, an online distributed accounting system. Blockchain is better known as the backbone of cryptocurrency, but it could also be applied for mobile voting, health records and more.
AT & T has recently released blockchain tools that will work with IBM and Microsoft technologies to help companies automate blockchain processes.
Donovan met KeyCorp's CEO Beth Mooney at the Huntington Cleveland Convention Center to talk about technology and its future as part of the four-day Blockland Solutions conference.
"If you hate change, you will really hate extinction," Mooney said, as he discusses how companies can embrace technological progress.
Here's what he said about technology, his future and what Cleveland can do to make Blockland successful.
Blockchain can be used to restore confidence in business
One of the biggest advantages of blockchain could be digital advertising, Donovan said.
AT & T is currently one of the largest national digital advertising buyers. But in advertising there is the risk of "fraudulent clicks" in which a program or script generates clicks or false impressions, which increases costs.
Blockchain creates a "chain of custody" that could essentially track an announcement at every stage of the process, so that everyone involved can see its impact.
"Whether you're one of those people who post ads or one of the people who buy ads, it's really a transformation."
5G will be essential to move forward
AT & T is exploring the launch of 5G Internet networks, which Donavan is essential for advancing technology. 5G is essentially the next generation of Internet connection after 4G. It's faster, more responsive and can connect multiple devices.
But it is not yet widely accessible in the United States – it is not possible to connect the phone to it. But 5G could be essential to work on the Internet of Things, which refers to the network of intelligent devices connected to each other. To advance the technology, it is necessary to have the right structure for its execution.
Gathering entrepreneurs
Often the search as a blockchain is hidden in the company laboratories. Companies do not discuss progress and case studies one with the other because of competition.
If he was Cleveland's mayor, Donovan said he would bring regional companies together to explore the uses of blockchain technology. In this way, Cleveland can start offering its workers new opportunities.
"I think what Cleveland (aspiring) is fantastic," he said. "I think a city of the future is able to bring its citizens into basic work and then continue to progress."
On Sunday, Brenda Kirk of Highland Software announced the first meeting of the region of chief innovation officers, who are typically responsible for technology management at companies. About 110 CIOs will come together to talk about what they need in the workforce and how to meet those needs.
Pushing beyond convention is the key to Blockland's effort
The Cleveland Blockland Solutions conference is the product of about five months of work, a much shorter timeframe than that required by most conferences. To allow blockchain efforts to progress, Donovan said officials should immediately start planning the next steps and the next conference.
This means continuing to push for more education in blockchain technology at Cleveland universities or urging local businesses to be the first to adopt.
"I consider it more on persistence than on genius, more on collaboration than on capital".
