Michael Morton, the chief technology officer of Dell Boomi, recently spoke at the Dell Tech World event in Las Vegas about the evolution of blockchain, why companies should implement blockchain solutions, and how they can get involved.
Per the panel, Morton made a bold claim, stating :
“Based on what we’re seeing in the industry today, I believe that enterprise businesses will have to be integrating with blockchains in 12 to 24 months. I don’t think you’re going to have a Fortune 100 company that’s not integrating with a blockchain for one reason or another.”
See the full video recorded and hosted by theCUBE, SiliconANGLE Media’s mobile live streaming studio, below:
Blockchain Technology Is Transforming Industries
According to Morton, blockchain technology will become mainstream in as little as a year, based on what he sees going on in industries today. Morton talks with companies all the time about blockchain, and has seen first hand how industries respond to the idea – some with interest and some with disinterest.
To Morton, a lot of people miss the point, stating that what’s really revolutionary about blockchain right now are the collaborations within industries that can happen, not necessarily its technology.
Explaining, he said:
“Blockchain is creating relationships in business that have never been created before. You see a construction consortium, an energy consortium, healthcare consortium, transportation consortium, supply chain consortium — you look at the people that belong to those — it is amazing the collaboration between these companies because of blockchain as a concept.”
Therefore, Morton advises companies to get involved with blockchain by simply joining a consortium or workgroup to learn about what others are doing in the space and how blockchain technology can benefit their industry.
Concluding his speech, Morton advised enterprises to get their hands dirty and start understanding the strengths and weaknesses of blockchain technologies like Ethereum and Hyperledger Fabric.
Adding to this, he said:
“It’s transforming the industry. So my advice is: Either get on board, or you’re going to be left behind.”