Experts and industry insiders call it "the next generation of the Internet", a game-changing technology that many predict will have a far-reaching impact across not just businesses and industries, but also across societies and world economies as well.
"The beauty and innovativeness of blockchain for many is its unchangeable nature," explains Hayk Hakobyan. A business expert, advisor and speaker, Hayk Hakobyan advises in AI and blockchain and worked with SMEs and MNCs across Europe, Africa, and Asia.
Think of the blockchain as a public ledger, but with the added functionalities of cryptography and a decentralized peer-to-peer network approach. The result is a distributed and immutable record which, as Mr. Hakobyan points out, can now hold all sorts of data. More than just digital currencies, goods, services, and other assets can now be exchanged without the need for centralized authority or traditional institution that normally acts as intermediaries to these kinds of transactions.