Consumers’ Research: Blockchain Tech Will Boost Consumer Protection

consumers' researchWith interest growing in bitcoin’s blockchain and distributed ledger systems more broadly, industry events are increasingly focused on highlighting applications for the emerging technology beyond the world of finance.

This has included more time and investment dollars devoted to applications in fields such as identity and security that, while not explicitly financial, play an equally prominent role in the global transactions process. As further proof that interest in the technology is widening, Keynote 2015 dedicated a speaking slot to a less-frequently addressed area of impact of the technology – consumer protection.

There to speak to this subject was Joe Colangelo, executive director at Consumers’ Research, a US non-profit that was among the first to begin publishing monthly magazines dedicated to helping consumers make informed buying choices.

In an interview, Colangelo opened up about the more than 80-year-old organization’s increasingly active work in the bitcoin and wider blockchain industry, noting that he believes the technology could bring about a sea change in consumer protection.

Colangelo told CoinDesk:

“Consumers have always had to trust third parties in order to use money, even if it’s cash. The whole consumer protection model is based on the assumption

Read more ... source: CoinDesk