Blockchain technology: the missing link in services management? Part I

In October 2008, an unknown person or persons going by the nom de plume Satoshi Nakamoto, published a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. On 3 January 2009, bitcoin came into existence. At the same time, blockchain, the technology underpinning the crypto currency, made its public debut. It has been an impressive decade of development for blockchain; moving from concept to reality and from single-use platform to a potential springboard for market disruption – especially in the services sector. Despite a decade of history, a very long time in the digital firmament, many, indeed most, do not really understand what blockchain is or how it may affect their business. In this article, we aim to explain in simple, accessible terms what blockchain is, how it works, where it is already making its presence felt in service industries and how it may develop in the future