D/SRUPTION interviews Michelle Chivunga Nsanzumuco of the British Blockchain Association.
If you’ve been questioning the true value of blockchain recently, you’re not alone. In spite of mounting hype this year around cryptocurrencies and the use of blockchain in business, a recent survey showed that only one per cent of CIOs have adopted the technology in their organisation. Add to this lack of concrete use cases a volatile cryptocurrency market and confusion around the terms and technicalities of blockchain more generally, and it’s no wonder that many business leaders have become sceptical about this technology.
One woman looking to set the record straight on blockchain is Michelle Chivunga Nsanzumuco, Chair and Advisor to the International Committee at the British Blockchain Association, Women economic empowerment champion and Executive Education lead at the University of Surrey Business School. A renowned believer about the power of blockchain to both transform lives in emerging nations and benefit business, Nsanzumuco is a staunch advocate for this technology — with a welcome caveat. Blockchain should only be used when it’s the right tool for the job.
The British Blockchain Association
With growing interest in blockchain has come greater confusion around the technology. For a start, as Nsanzumuco notes, many people still wrongly equate bitcoin with blockchain technology in general.
“A lot of people have heard a lot about bitcoin — there’s been a lot of hype around bitcoin and cryptocurrency — but there’s been less of an understanding or knowledge of the blockchain space and what the potential of that technology is to support different groups,” she states. “When I say different groups I mean different categories — yes we’ve talked about women’s empowerment and other vulnerable groups but you can also target businesses and governments.”
Educating, creating a community around blockchain and promoting good practice are some of the aims of the British Blockchain Association. Crucially, for Nsanzumuco, this centres around applying blockchain in appropriate use cases.
“A lot of what I’ve been doing around blockchain is trying to educate. I think there is still a lack of understanding of the underlying technology around blockchain itself, and how it can be used. It is applicable in certain scenarios but it’s actually not an answer to everybody’s problems and challenges.”
“Distributed ledger technology can be quite powerful for businesses in the sense that it helps them to improve processes, it allows them to better value add activity through improved efficiencies and real time interactions, and also removes clunky legacy systems and heavy paperwork. What’s more, it enables businesses to communicate with different groups all across the world. It is a technology that can enable connectivity as there are no barriers.”
Read the full article here at: https://disruptionhub.com/michelle-chivunga-nsanzumuco-when-is-blockchain-the-right-tool-for-the-job-int