Associate Professor Mike Rafferty (School of Management) in conversation with Dr John Lenarcic (RMIT School of Business IT and Logistics) discuss the social logic of blockchain.
A blockchain is a digital ledger in which financial transactions undertaken using a form of cryptocurrency (such as Bitcoin) are documented in a chronological manner that is open to public scrutiny. Don’t fall asleep yet!
In the wake of the waxing and waning of the global Bitcoin fetish, the side-effect is that blockchain technology is currently being over-hyped as utopian machinery for the greater good of society. Yet many are still confused about what it actually does, let alone how it works.
Is it simply good old fashioned accounting on steroids or will it morph into something even more disruptive than the plain vanilla Internet, which we all take for granted now?