Jay Millen, often described as a talent steward and value creator, is the managing partner of Caldwell’s CEO & Board Practice. Jay recently engaged in an interesting discussion with his colleague Matt Comyns, Managing Partner – Cyber Security Practice, about block chain technology and where it is headed in the business space.
You can watch part of their conversation or read it below.
Matt, supply chain authentication certainly is a compelling business issue. What did you learn during your recent effort of exploring block chain technology and where it’s moving in the business space?
“Like many emerging technologies, we see some companies jump out as early movers or innovators. You can see a lot of the innovation in professional services – the Accentures, the IBMs, and even the Amazon web services of this world, are really pushing block chain technology into corporations right now. We’re definitely seeing acceleration, whether it’s visible in the headlines every day to companies or not, more and more money is being spent there. The latest forecast is that it will grow by 400% in the next three years – so it’s not if, it’s when.
“If you’re a company right now, you want to be spending in this area and I think many companies are. They are starting to spend or explore in and around block chain technology. I think the sooner companies embrace this, the better. There’s so many different applications of block chain technology available. We see it in Fintech with cross-border transactions and greater transparency. Think of really complicated things like real estate transactions. When you buy a house – how much paperwork do you fill out? Even things as simple as audits, it’s just going to be used to verify and to get rid of so much paperwork and actually make it more authentic and more secure.”
“Thanks for sharing, Matt.”
Tags: Jay Millen, Caldwell Partners, Value Creator, Talent Steward, Matt Comyns