4 Unexpected Ways Blockchain

Will Transform Our World

åMaybe you know all there is to know about blockchain technology.

Maybe you know nothing.

Either way, in the near future blockchain could change how you do business in numerous ways, from energy use to booking a hotel.

“Right now, if people think about blockchain at all they probably only think of its connection to cryptocurrencies such as Bitcoin, Ethereum and DigiByte,” says Andi Simon, a corporate anthropologist and author of On the Brink: A Fresh Lens to Take Your Business to New Heights (www.andisimon.com).

“But the blockchain technology is really what people should be excited about.”

Blockchain was introduced in 2009 to serve as a database that could track and keep secure large volumes of transactions in the cryptocurrency world.  Once data is recorded, it can’t be changed without the approval of most network participants.

“This process supposedly creates a fraud-proof system and essentially authenticates the information that’s exchanged,” Simon says.

That’s why it has potential to be used in numerous ways, she says, such as:

• Government services and economic development. Any communities wondering how they can take advantage of blockchain in a big way could look to Zug, Switzerland, for advice. The city of 30,000 has become a leader in accepting cryptocurrency and encouraging blockchain startups to call Zug home, Simon says. Two years ago, Zug became the first place in the world to accept cryptocurrencies for some public services, and residents can get blockchain-based digital identities.
• Energy. Solar energy and blockchain aren’t the strange bedfellows you might imagine. Simon points to Brooklyn, NY, where a project called Brooklyn Microgrid created a peer-to-peer energy-trading system that is built on blockchain. Essentially, neighbors purchase power generated by their neighbors’ solar panels, allowing them to bypass utilities companies. Blockchain technology validates and records the transactions.
• Tourism. The tourism industry could be disrupted in a number of ways as blockchain begins to allow travelers to take greater control over all their travel planning. As an example, Simon says Dubai, which seeks to become an entirely blockchain city, is making moves to become a leader in blockchain tourism. Dubai Tourism recently announced a blockchain-enabled marketplace to connect potential customers directly to hotels and tourism operators.
• Financial Services. Banks and financial institutions could become superfluous as more people begin to use blockchain technology to send digital assets securely. “From the customer’s standpoint, that could mean an end to excessive interest rates and middleman fees as people make transactions directly,” Simon says. “People might not need banks for such things as making loans or providing credit.”

“Business owners don’t need to worry about incorporating blockchain platforms right away,” she says. “But they do need to be aware of what’s happening out there so they are prepared for how technology could change their businesses in the future.”

About Andi Simon, Ph.D.

Andi Simon, award-winning author of On the Brink: A Fresh Lens to Take Your Business to New Heights, is a corporate anthropologist and trained practitioner in Blue Ocean Strategy® (www.simonassociates.net). She is the founder and CEO of Simon Associates Management Consultants, designed over a decade ago to help companies use the tools of anthropology to better adapt to changing times. Simon also is a public speaker and an Innovation Games® facilitator and trainer. She served as a tenured professor of anthropology and American studies at Ramapo College of New Jersey, and was a visiting professor teaching entrepreneurship at Washington University in St. Louis. Simon has appeared on “Good Morning America” and has been featured in the Washington Post, Business Week, Inc., Entrepreneur, the Los Angeles Times and Forbes, and on Bloomberg Radio.

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2018 Utah Ethical Leadership Awards

The fifth annual Utah Ethical Leadership Awards program is now underway to recognize and support the ethical leadership of organizations in the state of Utah. Applications are now open for these awards. All businesses, government entities, and nonprofit organizations with ethical standards are encouraged to apply.  Applications close on July 30th, 2018. The application is available online by clicking the following link: Utah Ethical Leadership Award Application

Finalists will be announced after a thorough evaluation process and will be notified the beginning of August.  All finalists will then be invited to an awards breakfast on September 7, 2018, where the winners will be announced. One award will be given to the winner of each of the business, government, and nonprofit categories. Finalists and awardees will receive extensive press coverage in Utah Business Magazine and other media outlets.

Governor Gary Herbert says: “The Utah Ethical Leadership Awards recognize Utah businesses, nonprofit organizations, and government entities that embody best practices in ethical behaviors. The finalists and awardees are a great representation of Utah’s principle-based ethical leadership.”

The awards are designed to recognize organizations that embody the spirit of ethical leadership exhibited by Bill Daniels, a founder of the modern cable industry and former owner of the Utah Stars. Bill Daniels believed deeply in ethics and integrity, and in the importance of absolute ethical principles, which earned him great respect throughout the business world. The awards program is sponsored by the Daniels Fund, the Daniels Fund Ethics Initiative at the David Eccles School of Business, the Community Foundation of Utah, Utah Business Magazine, and the Kem C. Gardner Policy Institute at the University of Utah.

 Dr. Taylor Randall, Dean of the University of Utah’s Eccles school of Business, said: “The David Eccles School of Business is dedicated to making sure our students not only get an elite business education, but also learn how to better themselves, their workplaces and the world around them through leading an ethical professional life. The Utah Ethical Leadership Awards are an outstanding forum to showcase for students and Utahans in general, the local businesses that make ethical standards a priority. The awards will serve as inspiration for years to come for the future business leaders coming out of the David Eccles School of Business.”

Alex Eaton, Chief Executive Officer of the Community Foundation of Utah says:  “We look forward to receiving applications for the Utah Ethical Leadership Awards. This is such a great opportunity to recognize and celebrate leadership in Utah businesses, nonprofit organizations and government entities that embody best practices in ethical behaviors.”
 
FOR MORE INFORMATION, CONTACT:  Candace Horne, Daniels Fund Ethics Initiative at the University of Utah (801)-587-7788/ candace.horne@eccles.utah.edu
 
Last Year’s Winners:
Business – Tink’s Superior Auto Parts
Nonprofit – Big Brothers Big Sisters of Utah
State/Government – Lowell Bennion Community Service Center

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