Blockchain Thought Leadership: Five essential discussion topics.

Blockchain thought leadership is one of the best ways tech executives can establish themselves within a niche but growing field.

It can lead to investment, partnerships, contracts, and promising talent to beat your competition.

That said, with blockchain being such a complex field, it can be tough to know which thought leadership topics to focus on and why they are so important.

This is exactly why we’ve produced this handy article outlining five essential blockchain thought leadership topics you should keep in mind this year.

Blockchain has proven its value.

When the concept of a blockchain first rose to prominence, it rightly had many sceptics.

Blockchain wasn’t disruptive in the way the internet was. It simply enabled new ways of doing familiar things, such as transferring value, like banks already do, or automating business contracts.

So it’s understandable that its complexity led many industries to avoid it, while others who did understand it pigeonholed it as a gimmick.

However, if we fast forward to today, 80% of the world’s best companies now use blockchain.

Here’s exactly why:

• Since blockchain essentially creates a live record that can’t be altered, the likes of insurance businesses are preventing fraud and unauthorised activity much better.

• Experimental healthcare firms are sharing and tracking data in real-time, providing full traceability and accountability for actions.

• Financial institutions are benefiting by processing transactions faster without the need for paper documentation and added costs.  

• Vital sectors, such as logistics, are using smart contracts to automate actions when certain conditions are met, such as mitigating the risk of supply chain bottlenecks.

Much of this progress has been led by tech executives who have championed blockchain, onboarded key stakeholders, and thrust innovation.

It’s time we see more leaders initiate new discussions regarding other left-field applications for the technology.

Blockchain can be made energy-efficient.

Most people familiar with blockchain mining know how much energy it takes to get all computers on the network to agree that transactions are valid.

Hence, many media outlets are exploring solutions to make blockchain more energy-efficient. And it's an area more leaders must take advantage of.

For instance, many developers, such as Intel, are designing energy-efficient chips for mining, while some mining farms are leveraging solar panel power, wind energy, and hydropower to reduce their carbon footprint.

While these solutions remain in their infancy, spotlighting them will be essential for blockchain’s continued acceptance, growth, and uptake.

Blockchain thought leadership can improve sustainability.

Of all the topics to focus on, sustainability will be front-of-mind for most audiences over the coming year.

The tech sector, in particular, is under huge pressure. So, why not talk about how blockchain can actively improve sustainability for businesses?

Blockchain’s traceability in supply chains can bring together workers, logistics providers, retailers, consumers, investors, NGOs, and regulators on one platform, helping companies operate more ethically.

Similarly, blockchain can allow the public to track where non-profit donations go, reducing bureaucracy, or incentivise recycling through tokenised rewards.

If these ideas seem dystopian, it’s only because few leaders are actively engaging stakeholders to make them a reality.

Transforming customer experience through blockchain.

When asked about their most important stakeholder, it’s quite common for leaders to say their customers.

This is why companies spend billions on CX technology every year to map customer pain points, respond to feedback, and offer personalised services.

But while customer satisfaction is a priority for modern businesses, it wasn’t always the case.

Factors such as globalisation, digital transformation, and rising consumer expectations have been responsible for the shift from product-centric to customer-centric models, as companies strive to remain competitive in increasingly connected markets.

In fact, customer-centricity is such a recent trend that there’s still huge potential for experimentation and innovation within CX technology, particularly with blockchain.

Businesses, meanwhile, could benefit from expanding their customer base through the seamless, global transactions that blockchain can facilitate.

This would inevitably solidify customer trust and open new revenue streams in ways not possible before.

So while many businesses remain wary of blockchain, it’s likely because they haven’t yet grasped its potential to transform their bottom line.

Thought leadership can solve blockchain's scalability problem.

While blockchain technology can bring transformative benefits to customers and businesses, it still needs to become more scalable.

For example, it isn’t currently designed to handle mass transactions simultaneously. Global, concurrent usage only risks slowing transaction times and increasing fees for end users.

Without such solutions, and the visible leadership to promote them, blockchain may never become viable in highly commercial, mainstream settings.

So, it's crucial that thought leaders set the pace.