CEO of global Blockchain Shidan Gouran spoke with Dan Patterson of TechRepublic on future changes for governance and accounting, thanks to Blockchain automation. The following is a modified transcript of the interview.
Dan Patterson: How to resize this or at least find analogues between the media industry and other industries that are experimenting with blockchain? There is a lot of data that indicates that 70% of the CISOs are on the upside and that the decision makers of the IT departments have experienced the blockchain, but only 1% has actually adopted the blockchain. ;company. What advice do you have for other business technology leaders who would like to implement blockchain technology, but have yet to find a purpose for this?
Shidan Gouran: Before answering, I can only mention that there is another media application on this, which is voting. Blockchains are perfect solutions for voting, actually. On a global scale, where millions of people can vote on something, you know the system can not be rigged. We are working with a media company, which has a show where people vote for competitors and more. If you give the competitors a certain number of tokens and say "You only have" x "number of coins for the year, you must be very wise about using these tokens to vote with them," You do not even have to make them tradable in this case, it becomes a perfect tool to have a fairer voting system because the person is giving something of value that he can not get back. So he really has to make a choice about what he is voting for, or not by voting.
Going from there to the company, the same thing applies to the business. In the company, blockchains can completely change everything. The reason is that they make accounting and governance very automated compared to what it is today. A project-
Dan Patterson: Do you have any examples? Can you explain it?
Shidan Gouran: Yes, so a project we're working on right now is called the "Stratus Marketplace", which is a decentralized storage network and the company. For example, within a company, you can have two different departments and one of them has additional storage capacity and the other departments need additional storage capacity. Right now, getting that system is a chore. You have to go through management approval, you need to get the accountants to approve it. There are many resources that are spent on this. With blockchains, you can automate that process and make it in a way that even data is separated. Also within a company, there are semi-autonomous departments that do not necessarily want to talk to each other at a level where they share all their information with one another.
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Here you can encrypt and have protected data on someone else's server and a fully automatic way to approve and account for the resources used and this is a huge advantage. When you're dealing with a massive … a big business, a big, independent company, you really need a blockchain system; that regulate autonomous systems, right? This Stratus system that we have developed does not only work within the company, but also works between companies. You can have, for example – I'm just giving this theoretically – Shell and BP are competitors, Shell could provide space to the general consortium of companies that are part of this network, and BP could buy that storage and yet know that data does not they will be visible to the opposing party.
Significantly reduces storage costs because you are now selling your excess capacity.
Dan Patterson: Completely right. I like the idea of selling excess capacity and making processes more efficient, even if it is a competitor because the blockchain can validate certain types of information.
Shidan Gouran: Take this model, you can also apply it to consumers, because it is very similar to what they do Dropbox or iCloud at the end of the day. When you put your information on Dropbox, at the end of the day, you are dealing with a third party, which can access your content, potentially. It is in their hands. Here, you have a very open network where you are the only person who can control data and people you want to control data, and turn companies like Dropbox and iCloud into much more commodity companies that are really just users-interfaces on the top of this network.
This can be potentially revolutionary, and I really think this storage model can really change the Internet as we know it. It can turn it from a tree into a graph-like structure where things are available and gives people opportunities to compete on a level they could not have before.