Posted by & filed under Banking, Consumer Technology, Emerging Technologies, encryption.

Wiley Blog

An emerging technology has caught the eye of the innovation-obsessed federal government — a platform so packed with potential, many experts believe it could comprise the foundation for the next generation of the Internet.

Source: Toronto Star

Date: March 8th, 2017

Link: https://www.thestar.com/business/2017/02/28/ottawa-explores-potential-of-blockchain-billed-as-next-generation-internet-tech.html

Discussion

1) “Like a giant digital bulletin board, blockchain creates an online ledger or database where records — financial transactions, for instance — can be shared, moved and maintained on a transparent network, all without compromising security.”  How does this sort of technology “increase innovation as a way to help jump-start Canada’s lacklustre economy.”?

2) Apparently block chain’s “possibilities stretch far beyond cutting out the middleman in financial transactions, which often create higher costs for users and extra delays from processing times.  They range from improving the efficiency of government services, to developing robust electronic-voting systems, to building reliable land-registry systems.”  How would this help Canadian businesses and individuals?

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