DLT: Value Propositions
There are just too many problems in life and we feel more alive in resolving them, and in the process, creating, capturing and delivering private or public value. Innovative technologies like computing facilitate our problem-solving value-added process in a cost-efficient fashion. Creative contents like audio-visuals enrich the quality of our lives.
We live and let live, and our relational transactions often need trusted private intermediaries such as financial institutions to act as go-betweens. We also need trusted public intermediaries such as regulatory authorities to protect the public interests. We are getting more connected and the world is getting flatter.
The general value propositions of distributed ledger technology (DLT) or blockchain are security, efficiency and transparency. Network users can directly document their value-loaded transactions and access to other relevant data or information at the worldwide level. The unique value proposition of DLT, as I see it, is the internationalization and authentication of data and their exchanges, making network users self-sovereign in the context.
When I was with the Government, I dared outsource data-related projects so that the performance targets could be achieved in a cost-effective fashion. The DLT development, in my view, might operate as a worldwide voluntary or involuntary outsourcing of authentic and transparent data input and exchange for good. The conventional capacity liberated as a result of the DLT-driven paradigm shift, could turn to other value-added innovative and creative fronts!
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