“It’s really important to look at blockchain technologies separately because they all bring different benefits…and they can be implemented separately.”
In this talk, presented at our 2018 Digital Transformation Summit, Hanna Halaburda from the Bank of Canada untangles three elements commonly grouped together under the umbrella term, blockchain technologies: encryption/cryptography, 鈥渟mart contracts,鈥� and distributed ledgers.
Hanna defines 鈥渂lockchain鈥� as the distributed ledger piece and argues that most of the anticipated benefits of so called blockchain technologies do not really come from elements unique to blockchain, but instead are a product of encryption/cryptography and 鈥渟mart contracts.鈥� She encourages us to look at these elements separately and only implement what you need 鈥� which may amount to “blockchain” without the blockchain.