"In Some Future day, we will be using blockchain technology and cryptocurrency to, basically, run all business to business transactions."
Paul Brody is Principal & Global Blockchain Leader at Ernst & Young. Under his leadership, EY establishedhttps://youtu.be/yJbbXBCadyk a global presence in the blockchain space with a particular focus on public blockchains, assurance, and business application development in the Ethereum ecosystem. He is also the author of "Ethereum for Business: A Plain-English Guide to the Use Cases that Generate Returns from Asset Management to Payments to Supply Chains."
In this episode, Marc Beckman and Paul Brody dig into the evolution of blockchain technology and cryptocurrency's impact on society. Paul talks about the transition of Ethereum from proof of work to proof of stake, aiming to address climate concerns. He discusses the potential and challenges of bringing blockchain to mainstream business operations, emphasizing the importance of regulation and its impact on investment. Brody critically examines the narratives around blockchain for social justice and financial inclusion, advocating for a realistic assessment of technology's role. Further, he highlights the ethical considerations in blockchain applications, particularly around privacy and the misuse by bad actors. Projecting into the future, Brody envisions a world where business transactions are predominantly executed through blockchain, offering efficiency, transparency, and resistance to monopolies, albeit acknowledging a gradual implementation pace spanning over decades.