Showing results for "Computers" in Banks & Banking

Blockchains are new technology layers that rewire the Internet and threaten to side-step older legacy constructs and centrally served businesses. At its core, a blockchain injects trust into the network, cutting off some intermediaries from serving that function and disrupting how they operate. Metaphorically, blockchains are the ultimate non-stop computers. Once launched, they never go down, and offer an incredible amount of resiliency. The Business Blockchain charts new territory in advancing our understanding of the blockchain by unpacking its elements like no other before.

Blockchain technology could affect governance itself by supporting new organizational structures that promote more democratic and participatory decision making. Primavera De Filippi and Aaron Wright acknowledge this potential and urge the law to catch up. That is because disintermediation - a blockchain's greatest asset - subverts critical regulation. By cutting out middlemen, such as online operators and multinational corporations, blockchains run the risk of undermining the capacity of governmental authorities to supervise activities in banking, commerce, law, and other vital areas.