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CHEYENNE – Blockchain has been in the news for some time, with many related titles pointing to the rollercoaster-based roller coaster ride.
But experts have for some time foreseen that the blockchain will create a business revolution similar to that of the Internet when it is widely adopted.
At 2:00 am to 4:00 pm, on January 10th, the Wyoming Business Council will host an informative webinar open to the public that will discuss the possible revolution and how entrepreneurs can prepare for it.
Or better yet, take advantage of it.
According to a statement, Erin Moore, a member of the board of directors of the Business Council, will present during the webinar on blockchain technology and how companies can use it. It will also cover its benefits and shortcomings during the two-hour meeting.
In addition to his role in the Business Council, Moore is also CEO of the Gannett Peak Technical Services software development company in Cheyenne. He said he paid attention to the blockchain revolution enough to be well-versed in it.
In a telephone interview, Moore stated that the webinar was designed primarily as a briefing for the board members of the Business Council to provide a basic level of understanding to business leaders in a state now known to be friendly with technology blockchain. But besides this, around 80 people are registered to participate.
He added that Blockchain technology is starting to take hold in facets such as banking and other industries, leading to a lot of interest on the subject. Particularly when it comes to the repercussions for the business and how people should think and approach blockchain technology.
"I think there are technological advances that are happening all the time in our world – they are filtering through our daily and professional lives," Moore said. "It's nice to have an education on a certain level even though … you do not need to be able to code the blockchain."
While not necessarily geared to providing ammunition business owners to move into a new technology sector, he said his presentation could spark ideas into the right types of people for new niches to deal with.
The webinar will probably allow time for questions from the public.
David Pope, who helped make the laws conducive to the Wyoming blockade as executive director of the Wyoming Blockchain Coalition, is a certified public accountant in Cheyenne. In a 2017 interview, he indicated that radical changes are likely in both the private and public sectors as the blockchain technology takes root.
"I am worried about the change that will lead to government, accounting, businesses and the way we all interact financially," the Pope said. "It will change, it's a matter of knowing whether we are agreement or not. . "
Blockchain technologies, the Pope explained, exploit the power of a network to make a ledger more secure.
In a traditional accounting or other database, a single server contains the master copy of the data, which can be accessed from authorized computers. The result is that if that server is hacked or an employee is too free with login information, you have an Equifax violation in your hands. Or a hymn. Or a target.
But with blockchain technology, every computer or node that contains a blockchain hosts the entire database. Security arrives in numbers. Instead of any executive decision making extensive changes to the database upon request, it requires the majority of 51% approval from all computers in the chain.
While proponents claim that this makes blockchain technology immune to hacker attacks, the reality is that no system yet devised is unattainable. In fact, hundreds of millions of dollars in bitcoins, the son of digital currency, have been stolen in hacking attacks that have become more sophisticated with the increase in bitcoin value.
However, experts say that the blockchain's vulnerabilities are mostly human errors, not errors in the technology itself.
To subscribe to the free webinar on Thursday at 2, click here and fill out the form.
