FinTech: Blockchain

Blockchain is a newer digital ledger technology that is disrupting not only the financial industry but the educational industry and IT as we know it.  What started as an incorruptible ledger method for cryptocurrency, is now being utilized to transparently record almost anything of value including money, land registries, educational credentials and badging, identity management, middleware, and more. 

 

A Technical Example: For the technically minded, what is now accomplished by API (manual push and/or pull) and webhooks (automatic push) and even combined API webhook protocols can be accomplished by blockchain meaning real-time data exchanged with systems such as your student information system, customer relationship management systems, or learning management systems that can also include augmented intelligence.  For most businesses, this change will be accomplished through Blockchain as a Service (BaaS) similar to SaaS offerings now allowing systems to more easily integrate with more possibilities and less limiting factors. 

 

A NonTechnical Example: For the non-technically minded individual, this means, for instance, a learning management system that houses courses for professional development or customer education opportunities can be set up to utilize data from multiple sources to create a customized learning curriculum based the actions of the customer or employee.          

 
How will this change your business processes at your institution?  Are your IT personnel prepared for the change that is approaching rapidly?

The video to the left explains the implications of blockchain on middleware and was created by German Technology Evangelist, 

Kai Wähner.  K. Cradley & Co. Consulting Firm is not affiliated with Kai Wähner.

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