Canadian technology author Don Tapscott during his keynote speech at ‘Gartner CIO & IT Executive Summit’ in Toronto said that blockchain technology should be adopted by businesses in order to avoid being left behind in the market.

The summit saw keynote speeches on the technology which is expected to have the greatest impact on the enterprise and the global economy. Keynote speech by Don Tapscott focused particularly on the potential for blockchains to create a “virtual self,” keeping a record of a user’s actions across multiple platforms.

According to Itbusiness.ca, Tapscott said, “We’ve had the Internet of Information – now we’re getting the Internet of Value. So it’s incumbent on every business leader to get plugged in, find out what’s going on, become knowledgable, and to get some programs going in their companies.”
 
Talking about blockchain, Tapscott said that the technology is more secure than any other computing platform since the information they collect is distributed across networks. He added that blockchains turn user data into a new asset class, similar to gold, by allowing employers to search, utilize, and trade talent.

Tapscott stated, “Blockchains ensure that everyone acts with integrity. You can’t cheat. You can’t rip somebody off.” He mentioned four key reasons like cost of search, coordination, contracting and trust  which are vulnerable to blockchains.

Talking to ITbusiness, he recognized that certain results of the blockchain revolution could be less than rosy. Talking about sharing economy which is a hybrid market model that refers to peer-to-peer-based sharing of access, Tapscott said, “I think we have an opportunity to create a true sharing economy, rather than the specious ‘sharing economy’ that people talk about where there’s no sharing at all.”

Among Don Tapscott, the summit saw speakers like Hung LeHung, VP and Gartner fellow; Colonel Chris Hadfield, astronaut/first commander of the International Space Station and David Furlonger, VP and Gartner fellow.

Don Tapscott is one of the world’s leading authors on innovation, media, and the economic and social impact of technology and advises business and government leaders around the world. He has authored or co-authored 15 widely read books.

Don’s latest book “The Blockchain Revolution” is the first book to explain why blockchain technology will fundamentally change the Internet, what it does, how we use it, and both the promise and peril for our civilization.