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Blockchain and e-mail

<<Do we really need this blockchain? From what we see from current projects it seems that we could do the same with the technologies already in use.>>

I receive these and other objections from entrepreneurs and managers (from companies or banks) in my daily work of Blockchain Management Outsourcing. The questions are legitimate and the answer I give seems more or less like this: today's initiatives
related to the blockchain are similar to the early days of the Internet when they answered those who tried to convince companies to use email: <<
But we already use the fax! And it's very convenient because you just have to write a document by hand and put it in the car, dial the phone number and you're done. Much faster and easier than having to turn on the computer, open the e-mail application, type
on the keyboard (how many errors and how long it takes!), save the file and then, only then, send the document.
>>

Adamant observes. The e-mails certainly had interesting and innovative features, but not to the point of changing the way things were done. Furthermore, the return of benefits was not so immediate or clear. Time passed and with emails it was now possible
attach documents and insert links in the text. <<Wait a minute! We can not do these things with the fax! Explain to me a little, how does this e-mail work? >>

And here we are today. Blockchain-based applications provide nothing more than an efficient way to manage transactions and simplify some processes. That's all. We are like at the dawn of e-mail and fax. Where's the return on this again?
technology? Well, we're still waiting for the blockchain equivalent of what the attachments and links were to the email. Thus, the objections are valid.

Not for long, however, because I am already seeing the functionality that current non-blockchain systems can not achieve. One of these is the use of digital tokens to handle transactions in the physical supply chain (for example, deleting the purchase
orders) and in the financial supply chain (for example, the exchange of invoices, payments and financing). Just look at some realities in both supply chains to see that these concepts are close to realization sooner than one might think. I wrote about this in

https://www.finextra.com/blogposting/16020/supply-chain-tokens-for-collaboration#comment

So?

The fax is still used in many companies, so there must be a good reason. Therefore, it is not essential to use blockchain-based applications in your organization. However, you must be aware of the technology and its possible solutions, so you can do it
an informed decision. Returning to the companies that still use the fax, everything is fine as long as their competitors will also use the fax. But how long before these competitors discover that there is something called e-mail?

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This content is provided by an external author without modifications by Finextra. Expresses the opinions and opinions of the author.

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