This February in Bucharest, Romania, d10e is bringing the world’s leading disruptive tech experts and entrepreneurs together to discuss the newest innovations in decentralisation and its importance in the global marketplace. Joining the powerful lineup of speakers at this year’s conference is co-founder of BigchainDB, Bruce Pon. BigchainDB is the first company to create a decentralised database by adding blockchain characteristics. “It seems like we filled a gap in the blockchain ecosystem. We play very well with Ethereum, with Chain, Eris, any of these platforms out there,” notes Pon.
The Berlin-based company works with clients to integrate blockchain features into their existing database infrastructure, configuring either private enterprise or public blockchain databases, depending on the needs of the client. D10e recently spoke with Bruce regarding the future of decentralisation and the effect disruptive technologies like the blockchain will have on a global scale.
Q: How will decentralisation change the corporate world?
Just as the internet brought the cost of communication down to zero, blockchain technologies will bring the cost of transactions closer to zero. And as we saw with the media, music and content industry, this will force corporations to fundamentally question their business model and market positioning. The next Google, Facebook or Amazon based on decentralised technology will destroy profitable business lines for many corporations. These corporations will lose major business lines faster than they can respond, forcing a wave of consolidation.
Blockchain technology also gives corporations the capability to streamline processes, cut cost and become more productive. Corporations that successfully integrate decentralised paradigms will get a leg up on competitors and challengers to survive into the future. As with any major technology, it will be worse-before-better. For corporations, investments into blockchain will require significant integration and business process re-engineering work before the benefits will become clear. In the meantime, smaller, nimble startups will leverage the same blockchain technologies to steal away business from the corporations. In the end, it’s a race between the challengers and incumbents.
Q: How will corporations adapt to decentralisation in terms of cashflow, business relationships and so on?
Corporations have all seen how the media industry got destroyed by the internet. The enlightened companies know that innovation and disruption will affect them sooner rather than later. Corporations are much more aware of the disruptive potential of challengers. Ten years ago, most corporations would write-off a small, nimble startup attacking their business model. Today, that’s less likely to happen. Leading corporations are partnering to create ecosystems of value. They’re also setting up venturing arms to invest in, and perhaps co-opt innovative startups. Internally, they have set up innovation labs to ensure that new ideas can dissipate faster into the mothership.
Q: How prepared is the top management to adopt such a change in their business practices?
Blockchain technologies are going to spread to every industry sector over the next 20 years, affecting trillions in value. As with any disruption, some corporations will get an early jump and be able to defend their business models. Many others will miss the boat and not be able to respond fast enough.
To join Bruce and many more of the world’s leading minds at this years d10e conference in Bucharest, Romania, click here.