OPINION - Don Tapscott Shares Ten Cryptocurrency Predictions for 2018

Executive Director of the Blockchain Research Institute Predicts Cryptocurrency Developments for 2018

Don Tapscott, well known author and speaker as well as the global poster boy for blockchain takes a look at cryptocurrency. This article is a valuable read for those interested in how cryptocurrency is impacting, disrupting and creating opportunities for business. The ten things Tapscott addresses are these:

1. Cryptocurrency continues to grow
2. Cryptocurrency craze broadens to embrace blockchain business transformations
3. New platform for value creation emerges
4. Shift in ICOs towards equity tokens
5. Cracks in the walls of digital feudalism
6. Digital conglomerates wade in
7. Implementation of fiat cryptocurrencies (finally)
8. Regulation fever—The good, the bad and the ugly
9. Breakthroughs on energy and climate change
10. Growing crypto resilience

EDITORIAL - When Consumers Demand Proof

Ag.Com illuminates the Consumer's Need for Proof

Salvage Groceries is a Trend in Some Urban Environments

The AG.Com article by Laura Rance takes a look at trends and trust in the retail food business. It is worth the time to read. 

In this day and age of fake news and internet prevarication, trust has taken a nosedive. 

Earlier this year, InfoStream published an article entitled, 'With Growing Distrust Across Sectors, is Trust in Crisis?'. Quoting studies by Edelman and Gallup, this article shows that trust has fallen in general and with brands in particular.

Is it any wonder that, as Rance suggests in her article 'the rapidly changing retail food sector (consumer) wants to know what you do on your farm'. She quotes Jay Watson, of General Mills: 

“It’s not about science, it’s about values,” he said. “Facts don’t persuade people, people persuade people.”

According to industry sources, the retail food industry in Canada is worth C$118B annually. According to John Scott, Board Chair of the Canadian Agri Policy Institute (CAPI). Eighty percent of the food sold in Canada is through five companies and so-called “food discounters” such as Walmart and NoFrills, currently sell 53 per cent of the groceries purchased in Canada. 

“Retailers are trying to make sure that whatever products are in their stores can be traced all the way back,” said Scott recently. 

As in most value chains, the connections aren't obvious to the consumer. Moreover, most traceback strategies seem more about mitigating risk for the industry than developing consumer trust. Advertising that features the primary producer is already being used by the fast food industry and by food retailers in some countries. But is this attempt to improve trust really the answer that will satisfy consumers?

The essential question is framed in these terms:

"how can the primary and secondary producers of agrifood prove to a skeptical public, they are using sustainable, consumer approved, trustworthy practices in production and how can they gain/retain the trust of those who buy food"?

Recently, we reviewed the white paper on AgriFood and Agriculture prepared for the Blockchain Research Institute by researchers at York University. It seems certain that emerging technologies like blockchain will have a role in making the production system more transparent for everyone in the value chain including the consumer. However, most of the current proof of concept (POC) activity is not targeted toward North American production. 

Furthermore, at least in Canada, the AgriFood industry continues to think and speak in 'value chain' terms when 'ecosystems' are a better/best way forward. It is telling that a literature search for consumer involvement in the agrifood system is limited to historical surveys and panels. In fact, the competitive nature of value chain thinking has created many paths from producer to consumer and further fragmented attempts to shore up trust or understand the consumer experience in real time.

The evolving understanding of 'ecosystem' is an important story for InfoStream. Where once the term 'ecosystem' was used to describe a biological system and the elements required to sustain it, the term now has a broad context when used in commerce. InfoStream understands 'ecosystem' as 'interconnected elements held together by interactions that create a community of the whole'. Ecosystems will almost always include competitors who learn to become collaborators. Ecosystems trump traditional value chains because of their primary focus on consumer satisfaction and consumer experience.

Many of the recent acquisitions (search 'Acquire') stories published by InfoStream show the purchase of emerging innovators or existing ecosystems by large retailers and service providers. Further evidence of a movement toward achieving the trust and satisfaction of the consumer.

Questions that need answers:

• Can the Agrifood Supercluster project stimulate the development of an Agrifood ecosystem in Canada?
• If 'people persuade people', how is agrifood going to attract and retain these influencers instead of the 'blast and cast' facts approach now present?
• What are the elements that will drive 'proof of concept' activities to overlay agrifood with a blockchain?

About Executive Producer, Larry R. Evans:
Larry Evans is an experienced innovator and strategist. He is Principal of The Paradigm Corporation, which is headquartered at Thunder Ridge just outside Crossfield, Alberta, Canada. He is known for bringing a unique and predictive lens to paradigm shifts during a career that spans 45 years. Now often from his wheel chair, he brings a grounded, tenacious view of brand, ecosystems and trusted relationships for the digital age. His perspective and values influence his life, business and ministry.

https://www.linkedin.com/in/larryrevans

EMERGE - Blockchain Webinar CMO and the Next Era of Marketing

REGISTER NOW

Jeremy Epstein, is the author of "Blockchain and the CMO" project. If you are in marketing you need to attend this Webinar: 

How does blockchain—as a trust machine—change advertising, data analytics, branding, and the customer experience? 

How does blockchain offer organizations an opportunity to differentiate and gain competitive advantage?

REGISTER NOW

INNOVATE - Blockchain Explorers - Adding Trust to the Ecosystem

The IBM Institute for Business Value global survey of nearly 3,000 executives uncovered a unique group - Blockchain Explorers. One of the biggest ways Blockchain Explorers are setting themselves apart is by embracing a platform business model. Find out what else they're doing differently:

Join members of the Blockchain Research Institute and explore a blockchain Proof of Concept (POC) activity that will add trust to your ecosystem.

BUSINESS - Blockchain Research Institute Launches in Canada

(Alex and Don Tapscott)

Don Tapscott, co-author of the best-selling book Blockchain Revolution with Alex Tapscott, announced the formation of the Blockchain Research Institute (BRI) at the DC Blockchain Summit.

Based in Toronto, Canada and funded by companies and governments from several countries, the BRI will conduct the definitive exploration of blockchain use cases, opportunities and implementation challenges.

A global team of dozens of experts will explore financial services, manufacturing, retail, energy and resources, technology/media, healthcare and government; as well as how this new technology changes the way companies are managed.

“We believe blockchain is a transformative technology for businesses. The Blockchain Research Institute with its brilliant team will deepen and enrich the knowledge about blockchain. We highly appreciate and fully support this effort and will contribute our deep expertise in business processes as the global leader in enterprise software,” Juergen Mueller, SAP Chief Innovation Officer, said in a release.

Founding members include:

• Technology Industry – Accenture, IBM, SAP
• Financial Industry –  Digital Asset, NASDAQ
• Global Corporations – Pepsico, Centrica, Liberty Global
• Government – Province of Ontario, University Health Network
• Blockchain Pioneers – Nuco Inc., Paycase, Artlery, Votem, Cosmos, Youbase, Wisekey
• Affiliate Organizations – The Hyperledger Project, the Chamber of Digital Commerce, Coala.io, Enterprise Ethereum Alliance

With the growth in cryptocurrency and slow death of cash, blockchain is being adopted by a wide variety of industries around the world.

Blockchain technology describes a distributed, highly secure platform, ledger or database where value – everything from money, stocks, bonds, intellectual property, and deeds, to music, art and even votes – can be stored and exchanged without powerful intermediaries.

Ross Mauri, General Manager z Systems, IBM, said, “Blockchain has the potential to address some of the world's most pressing challenges --  from streamlining trade, to establishing trust in transactions, to tracing provenance for food safety. By working with top experts from around the world, we’ll be able to take full advantage of blockchain’s inherent strengths -- an openly-governed, collaborative approach – to make global business more efficient and transparent for consumers."

Don and Alex Tapscott will lead the BRI as co-executive directors.

Not limiting itself to research, the Institute will actively work on strategies to make a blockchain economy happen.

Projected program deliverables include reports and tools that disseminate program conclusions among member organizations, monthly webinars and executive briefings.

A Program Summit for institute members will be held in the spring of 2018.