As bitcoin keeps booming, ignore blockchain at your peril

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In late 2017, as the price of digital currency bitcoin continued to hit new heights, so too did corporate interest in blockchain, the distributed ledger technology which underpins almost every major cryptocurrency on the market.Technology giant IBM rolled out a swathe of different projects to tackle problems like digital identity. Banking heavyweights ING, BNP Paribas, Citi and Macquarie joined forces to launch a new trading platform. Closer to home, the Australian Securities Exchange shocked investors by announcing its CHESS software would be re-launched on the blockchain.At the time, these announcements were questioned by traditional investors but simultaneously cheered by blockchain enthusiasts, who rejoiced that traditionally slow-moving corporations seemed eager to get on board with the nascent technology. Cryptocurrencies, despite their significant valuations, were viewed by decision-makers as too risky and overall secondary to the true innovation of the blockchain.Four years later enthusiasm from the business crowd appears to have waned.…

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