Embracing The New Internet
The PEAK Hong Kong|September 2017

Does the advent of blockchain technology hold the key to Hong Kong’s economic future?

Embracing The New Internet

The world of business is about to witness a transformation on a scale comparable to the changes wrought by the dawn of the internet. Welcome to the topic du jour in boardrooms around the world: blockchain and distributed ledger technology.

Blockchain is a subject that most people equate with the mysterious digital currency bitcoin. They’re certainly closely linked, but the difference is critical. Bitcoin is a virtual currency – blockchain is the underlying technology that enables it to become a store of real-world value.

In fact, blockchain is as much a revolution in accounting as it is in information technology. When Italian merchant states adopted double-entry bookkeeping in the 13th century, a method that saw businesses keep track of what was gained and what was lost in every transaction, business owners began to see how they could flourish and work together. The method became the basis of good corporate governance, transparency and accountability. Blockchain, which is one form of distributed ledger technology, offers a similar leap forward but at an exponential level.

SETTING THE RECORD STRAIGHT

Blockchain allows for every participating computer to access a shared accounting ledger – my computer, your computer and every computer involved has access to everyone else’s ledgers for a purchase, service or financial product. If we do business, my computer records the expenditure and your computer records the gain, with absolute precision. This ‘bookkeeping’ by distributed ledgers with no centralised data storage is the reason that bitcoin and a host of other digital currencies can exist.

Diese Geschichte stammt aus der September 2017-Ausgabe von The PEAK Hong Kong.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der September 2017-Ausgabe von The PEAK Hong Kong.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE PEAK HONG KONGAlle anzeigen
Supercar Condos
The PEAK Hong Kong

Supercar Condos

This new property project is set to be the perfect spot for elite supercar owners to store and show off their rides. 

time-read
1 min  |
October 2017
New Gear
The PEAK Hong Kong

New Gear

Lamborghini unveils an upgraded supercar that boasts breathtaking performance with open-air driving thrills.

time-read
1 min  |
October 2017
Aquatic Timekeeper
The PEAK Hong Kong

Aquatic Timekeeper

As a nod to the futuristic glass bathysphere from The Abyss, this timepiece raises the bar for horological aesthetics by marrying abstract visual concepts with mechanical wonders.

time-read
1 min  |
October 2017
A New Way To Do Business
The PEAK Hong Kong

A New Way To Do Business

Attracting and retaining a creative workforce is a perpetual challenge. The answer may lie in B Corps, a certification process that’s focused on the societal impact a company has.

time-read
4 Minuten  |
October 2017
Circular Opportunities
The PEAK Hong Kong

Circular Opportunities

Why Hong Kong companies should start turning their waste into a supply source.

time-read
4 Minuten  |
October 2017
The Game Changer
The PEAK Hong Kong

The Game Changer

After years spent residing in Spain, Paris and the US, Northacre CEO Niccolò Barattieri di San Pietro now has his eyes set on London. The forward-thinking property giant is aiming to restore the former glory back into historical developments in the British capital.

time-read
3 Minuten  |
October 2017
The Quiet Giant
The PEAK Hong Kong

The Quiet Giant

Dr Jonathan Choi wears a lot of hats and sobriquets as he heads up low profile conglomerate Sunwah Group. But with a rising tide of interest in ASEAN and a pending free trade deal, the quiet days may get a little noiser.

time-read
8 Minuten  |
October 2017
The Boutique Experience in Mexico City
The PEAK Hong Kong

The Boutique Experience in Mexico City

When it comes to Latin America, Mexico is Hong Kong’s second-largest trading partner and the biggest buyer of Hong Kong exports.

time-read
4 Minuten  |
December 2016
Discovering the Dark Side
The PEAK Hong Kong

Discovering the Dark Side

Following a growth in the number of protected 'dark sky places' and stargazing travel destinations, all of which offer visitors increasingly luxurious ways to gaze in awe at the night sky, there has never been a more exciting time for astrotourism.

time-read
5 Minuten  |
December 2016
The Sparkle Makeover
The PEAK Hong Kong

The Sparkle Makeover

From cars to yachts, here's what one pioneering outfitter is doing to add bling to big ticket items.

time-read
1 min  |
December 2017