The use of blockchain for information management will never compete for eyeballs as Mrs. Trump does. Nevertheless, developers and enterprise innovators are actively exploring and beginning to use blockchain under the radar. I’ll leave the “how” of the underlying technology for another day. In this article, I want to focus on the fundamental conceptual reasoning behind using blockchain for information and knowledge management.
Blockchains only do one thing, which can be hard to get your head around. Blockchains eliminate the need to trust other people. That’s it; that is all there is to it. Under the covers, there is some very complex technology, underlying security, and math. But in practical business terms, blockchains remove the need to trust other people, companies, partners, or suppliers when they tell you something or give you a document. Trust is deferred to the system itself.
With a blockchain, you all have the same version of the “truth.” Or, to put it another way, blockchains provide a trustless system, removing the need to trust one another.