In April, Filipe joined us to give an exclusive Blockchain seminar, providing guests with the opportunity to learn more about the revolutionary technology as well as how businesses can benefit. We caught up after the session to ask a few questions:
So Filipe, what is Blockchain?
There’s a lot of confusion around the terms Blockchain, Bitcoin and cryptocurrencies. I’ll try to shed a light on that. Blockchain, from a technical perspective, is a data structure developed specifically to make data resistant to changes – ‘immutable’. By ‘data structure’ I mean just a way of organising and storing information in a certain way – the same way that a phone book or a book index are also data structures. Blockchain introduces a quite unique characteristic, it provides immutability by design – imagine if there was a way of storing phone numbers in your phonebook in a way that no one else could change them? Or, maybe, registering bank transactions in a way that no one else could tamper, not even the bank itself?
What industries could benefit using Blockchain technology?
Even though it has generated a massive buzz, Blockchain is not the solution for everything – is quite the opposite, as it’s the solution to a very specific set of problems. In a summary, business cases that would benefit from blockchain are usually the ones that require a number of ‘independent’ participant, who not necessarily need to ‘trust’ each other while still needing to transact and share data between them. This applies to some specific traditional industries – e.g. banking, insurance, supply chain, property rights, healthcare – but also allows new, innovative, business cases to emerge – e.g. distributed, shared, fractional ownership of physical assets, or organisations that are entirely self-regulated. It’s the kind of technology that could effectively transform businesses/industries by allowing new business models to be created.
What would be the first steps when looking into adopting blockchain?
As with any new technology, before adopting it you have to invest some time into understanding how it works and what possibilities it opens up. As I hinted above, it’s different from deciding on what new ERP or database your company should use because it’s not simply a tool to improve your existing processes – although in cases it could be used as such, but one technology that could transform the way your business operates.
Finally, who is Nth and who is Filipe Moura?
Nth is a Norwich based product and technology consultancy which provides product development support as well as traditional and high-end tech (AI, ML, Blockchain, etc) software development. Nth main purpose, although, is to help you envision the future and the ways in which technology could empower or even re-shape your whole business, and make it happen.
I am a creative, innovative technologist, with nearly twenty years experience – from Telefonica’s R&D department, through Financial solutions in London to founding Brazil’s first crowdfunded company and managing tech of one of the world’s leading activist organisations – experienced in the full cycle of product development, from leading the ideation, through the technical development, strategy, and launch of innovative products.
Currently heading Nth providing solutions and consultancy to multiple companies across Europe, US and Latin America.
Filipe can be found at the UEA Enterprise Centre, or if you would like a personal introduction, please get in touch.
To learn more about Nth, please visit www.nth.work