BLOCKCHAIN
With ESG rising the ranks of priority for businesses , we examine the potential role of blockchain technology in compliance across global supply chains
WRITTEN BY : OLIVER JAMES FREEMAN FRSA
These days , mind-boggling technological feats seem to be an almost daily occurrence ; in a mere 20 years , we ’ ve seen unprecedented levels of innovation and growth , moving from the era of data storage rooms and floppy disks to metaphysical cloud computing and global interconnectivity at the click of a button . For some , the development of tech has been terrifying ; for others , wondrous . Along the way , we ’ ve seen ups-and-downs on a global scale , and we ’ ve watched new ideas rise before swiftly crashing and burning ; there have been fads and gimmicks and unrealistic expectations as well as promises across the board .
In 2009 , the world was introduced to yet another idea that fell into that latter category : Bitcoin . The first-ever cryptocurrency — which promised to challenge and even replace traditional currencies , resource-backed currencies . Bitcoin was laughed at and , for the most part , ignored by the mainstream . But get this … When the cryptocurrency opened on the markets , a person could purchase a single Bitcoin for as little as $ 0.0008 , and just last week , the price surpassed $ 61,000 — you can do the maths , and I can tell you that this new alternative was far from a ' fad ' supplychaindigital . com 61