By Stephen Marshall, Financial Services Technology lead, Deloitte
Trust is a foundational element of business. Yet maintaining it - particularly throughout a global economy that is becoming increasingly digital - is expensive, time-consuming, and, in many cases, inefficient. Some organisations are exploring how blockchain, the backbone behind bitcoin, might provide a viable alternative to the current procedural, organisational, and technological infrastructure required to create institutionalised trust. Though these exploratory efforts are still nascent, the payoff could be profound. Like the Internet reinvented communication, blockchain may similarly disrupt transactions, contracts, and trust - the underpinnings of business, government, and society.