How the pandemic made blockchain technology even more relevant
People used to routinely ask R. L. Shankar to explain blockchain technology. But, because of the pandemic, they’re increasingly aware of its benefits.
“The COVID-19 crisis has put the spotlight on the relevance of blockchain,”said Shankar, an assistant professor of banking and finance at Case Western Reserve University Weatherhead School of Management, who teaches a course on both blockchain technology and artificial intelligence.
Blockchain is a secure digital ledger system. All businesses, said Shankar, have at their core a series of contracts—with customers, vendors and suppliers. And blockchain makes verifying those contracts easier and cheaper.