It may take at least eight years for blockchain technology to reach its so-called tipping point, according to a survey conducted by the World Economic Forum. In their report titled “Deep Shift: Technological Tipping Points and Societal Impact” the organization identified the blockchain or the distributed ledger of bitcoin transactions as one of the six largest trends to transform the digital world.
The report was compiled by the WEF’s Global Agenda Council on the Future of Software and Society and comprised a survey of more than 800 information and communications executives and experts.
The Blockchain Potential
The report identified blockchain as “an emerging technology [that] replaces the need for third-party institutions to provide trust for financial, contract and voting activities.” Indeed, blockchain technology is