Blockchian Paper The Management Accountant February-2018

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Blockchian Paper The Management Accountant February-2018

Human civilisation has so far witnessed three industrial revolutions, the last being computing power enabled manufacturing systems. It is widely being perceived that the next expedition for ‘Industry 4.0’ has started. This epoch making revolution is expected to bring in inclusive digital transformations encircling every single sphere of life.In the new era, digitally-driven ‘destruptive’ technologies will ‘innoventively’ reengineer systems and processes of business operations for contributing towards shared developments and touching lives of have-nots also in all corners of the world.

Impacts, generated by varioustechnologies, can be grouped into four categories, viz., transformational, high, medium and low. In foreseeable future emerging technologies under ‘Industry 4.0’ like Deep Learning, IET, Advanced Robotics, 3D Printing, Autonomous Cars, Brain- Computer Interface, etc. will create transformational impacts. Contrary to popular perception, the present author thinks Blockchain also will bring high transformational impacts which will ultimately enhance both commercial and social RoI. Several tons of paper have already been inked and zillions of bytes occupied with narratives and software on Blockchain. It is predictively being viewed that this technology will create equal, if not more, impacts than ‘www technology’. This technology is evolving. A deep sense of labor-pain for delivering values is being experienced. Hundreds of scientists are struggling to ‘innovent’ simplified applications for generating wide-scale impacts. One of such areas is popularly known as smart cities through inter operable distributed ledgers, that form the core of a Blockchain

Objective
Objective of this paper is to examine Blockchain technology through a prismatic analysis. It will look out for the present state of developments and predictive applications on which digital scientists are working. Through analytical research the present author will endeavor to feature out unique developments for mass- impacting applications in hitherto unheard-of areas.
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