Does My Small Business Need Care About Blockchain Yet?

Short answer, no. Long answer, if you’re in professional services then no, but it’s coming to you soon in some form.

What’s funny in all this bitcoin hoopla is that the technology underpinning it is really pretty simple. Or the idea anyway of blockchain once you look under the hood is very simple in concept. And the uses of blockchain one can argue will be far more impactful on day to day of business than it will be as the engine of cryptocurrencies of whatever flavor.

Where’s block chain coming to business? Transactions, contracts, quotes, documents, and the management of these is where blockchain tech will likely surface. Hence, professional services like legal, medical, and accounting will probably first be exposed to the potential and the pitfalls of investing in block chain tech.

Main issue for small business and block chain: the ridiculously fast paced nature of block chain development means that you have navigate this torrid river of updates and upgrades and the concomitant security issues that will come with such immature technology.

Block chain or the next iteration, or the one thereafter 😉 promise to have a profound effect on business transactions. It’s a very simple but very secure idea that has a lot of room to grow, but also a lot of growing pains in front of it.


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