Parker, David W. and Downie, George
(2019)
Blockchain technology: the missing link in services
management? Part I.
[Professional and Technical Reports]
Abstract
In October 2008, an unknown person or persons going by the
nom de plume Satoshi Nakamoto, published a paper titled
Bitcoin: A Peer-to-Peer Electronic Cash System. On 3 January
2009, bitcoin came into existence. At the same time, blockchain, the technology underpinning the crypto currency, made its public debut. It has been an impressive decade of development for blockchain; moving from concept to reality and from single-use platform to a potential springboard for market disruption – especially in the services sector.
Despite a decade of history, a very long time in the digital
firmament, many, indeed most, do not really understand what
blockchain is or how it may affect their business. In this article, we aim to explain in simple, accessible terms what blockchain is, how it works, where it is already making its presence felt in service industries and how it may develop in the future.
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