By Yuree Hong, Marketer in Blockchain, Founder of SHE Blockchainers Asia
From radio, to TV and the internet, our lifestyles have been tremendously and continuously transformed by new technology.
The adoption rates of technology show that technology’s lifecycle is getting shorter and shorter every decade.
Today, we are living at a new stage of an industrial revolution driven by Blockchain and cryptocurrency.
This new concept is a hybrid of technology, telecommunication, money, and philosophy that has never been interlinked so closely in any of the industrial revolutions of the past.
Blockchain can incentivize people who produce behavioural data that is stored on tech company platforms.
People are giving data to companies that can generate huge amounts of revenue for the company, however the individuals have never previously been able to benefit from it.
Now with blockchain democratizing our data, we are able to finally get our fair share of the pie.
It may sound shocking to newcomers when they hear that Blockchain companies can create new money (a.k.a. cryptocurrencies) and then use it to incentivize people over their behavioral data being given away to organizations, which own the platforms collecting data. How can this be possible?
The secret is in the cryptographic algorithm that enables Blockchain to play its role as a cryptocurrency.
It offers lucrative advantages that have never existed before, such as transparency, peer-to-peer payment and a decentralized network.
Even more surprisingly, the cryptography has existed since World War Two (1939-1945), which means the potential of this technological explosion has always been around us.
We are living in the brave new world of computing through Blockchain networks.
Supply chains are one of the top areas that Blockchain technology can be applied to help resolve problems in the current system.
It helps minimize the amount of paperwork, payment processing time, origin verification processes and so forth.
Consumers can also benefit from the transparent, trustless system without the need to trust a brand.
Blockchain technology has huge potential to revolutionize many sectors.
Advocating for female inclusion in the space is one of my key initiatives contributing to the industry.
I strongly believe that we need more female leaders in the space to support diversification in development of ideas and it will integral to the growth of the industry.