Threat or opportunity? Blythe Mathers talks blockchain jobs impact

Though the conversation surrounding blockchain centers on the billions of dollars that can be saved annually by conducting transactions on blockchain networks or distributed ledger systems, not much thought has been given to what that means for job losses and salary reductions in the finance sector, writes Michael del Castillo for CoinDesk. “We actively, as an industry, have to get this technology right, in order to really see it create something foundational that will release the big gains, and the big benefits that will ultimately flow through to your man on the street,” said Digital Asset Holdings CEO Blythe Masters during the DC Blockchain Summit.

The blockchain’s salad days

Distributed ledger technology is going to disrupt the finance and legal industries by providing more accurate reconciliation processes and paving the way for “smart contracts,” but it remains unclear yet just how transparent these networks will be and how efficient they will be and how much transparency banks will be comfortable with. “How might such a ledger might operate?” asks Dave Birch in a piece for Tomorrow’s Transactions. “Would American Express want a rival to know how much vegetable oil it had on its books? Would it want anyone to know?”

The blockchain road will go through Chicago

Illinois is joining R3 consortium, which means the state is going to be active in bitcoin education with incubators, quarterly meetings and hackathons, writes Jeffrey Carter for Points and Figures. “If you are a Bitcoin developer, being in close proximity to supportive government officials who will help you can make a huge difference,” Carter wrote. “Why is this important to anyone who lives in Illinois? I believe that blockchain and cryptocurrency are going to be an integral part of the future internet.”