The blockchain technology is enabling new ways of interacting with art.
Blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network.
Blockchain enables multiple parties to share access to the same data, at virtually the same time, with an unprecedented level of confidence.
The blockchain technology is seen as the main technological innovation of bitcoin, NFTs and cryptocurrencies.
NFTs, or Non-Fungible Tokens if we’re being technical, have taken the internet by storm recently.
For those who do not know, an NFT is a new form of digital asset, being created online and sold as collectibles. It may all sound like a bit of casual fun but when you hear of NFTs being sold for upwards of $50million, you can’t help but want a piece of the action. Since the monetary value of NFTs has accelerated so considerably in 2021, more and more people are getting involved.
What can business leaders learn from classics such as The Art Of War and The Art Of Love?
By following Lao Tze’s approach, a successful blockchain strategy would encompass the following domains similar to a “war strategy”: understand your environment, identify the specific problem to be solved, have a detailed strategic plan, clarity on which market to attack, deploy a great tactical implementation team, use your energy wisely as the battle might last long, know your strengths and weaknesses, be nimble and change course as needed. However one of my favorite quotes from the master of strategy is “ subdue the enemy without fighting”. So how does that apply to blockchain? One could state that the myths, misconceptions and pervasive lack of knowledge about ledge technology that currently exists in the industry could be considered the “ virtual enemy “ of being able to scale blockchain solutions. So how can this war against myths and misconceptions be won? Perhaps by making blockchain indispensable…Lately we have witnessed more governments, financial institutions and large technology companies announcing a comprehensive blockchain strategy and if this trend continues perhaps the negative publicity will become less and less influential. It will also contribute to a " blockchain ecosystem" and a " blockchain community" essential for acceptance just like we witnessed with the internet.
How about Love? What would Erich Fromm teach us about how to be “in a love relationship with blockchain”? According to his philosophy, love “requires discipline, concentration, patience and overcoming ones own narcissism”. So how does that extrapolate to blockchain? In pragmatic terms, those who are “passionately in love with blockchain” need to be aware that it is not a solution to every problem and there needs to be a thoughtful, mindful feasibility analysis to understand if Blockchain is even a good “match” for a specific use case. Too often we see how creators of new blockchain products are overcome by their “narcissism” and try to “ find a problem to fit their blockchain solution”, as well as businesses who fail to go through a rigorous due diligence process and “ fall in love” with the first blockchain solution offered.
In conclusion, it would be wise for business leaders to carefully evaluate if and how blockchain fits into their comprehensive enterprise strategy, while thoughtfully selecting the appropriate domain where blockchain can effectively and efficiently address a problem that has no other better solution.
Ingrid Vasiliu-Feltes, MD MBA Is a healthcare executive, futurist and globalist who is highly dedicated to digital and ethics advocacy. She is a Forbes Business Council member, digital strategist, passionate educator and entrepreneurship ecosystem builder, known as an expert speaker, board advisor and consultant. Throughout her career she has received several awards for excellence in research, teaching or leadership. She is the recipient of numerous awards most notably: WBAF World Excellence AwardSocial Entrepreneurship 2021, Top 20 Global Leaders in Digital Twins Technologies, Top 50 Global Leaders in Health Tech,Top 50 Global Ecosystem Leaders, Top 100 Visionary In Education Award 2021, Top 100 Global Women in Leadership Award 2021, Top 100 World Women Vision Award, 2021-Innovation & Tech, Top 100 Women in Social Enterprise 2021 (nominee),Top 50 Global Thinkers (Nominee),Nations of Women Change Makers Award(finalist),Top 100 Healthcare Leader 2020 Award, Top 100 Finance Leader 2020 Award, and Top 100 Women in Crypto 2020. Additionally, she serves as an Expert Advisor to the EU Blockchain Observatory Forum, and was appointed to the Board of UN Legal and Economic Empowerment Network. Dr. Vasiliu-Feltes is CEO of Softhread Inc., the Founder and CEO of The Science, Entrepreneurship and Investments Institute, and currently serving as a Country Director for WBAF USA, Senator of WBAF, Faculty Member of the WBAF Business School-Division of Entrepreneurship, and teaching the Executive MBA Business Technology Course at the UM Business School. She is also acting as the Chief Innovation Officer for the Government Blockchain Association. Most recently she served as President of Detect Genomix, Chief Quality and Safety Officer Chief and Innovation Officer for Mednax, Chief Quality and Safety Officer and Chief of Compliance for the University of Miami UHealth System During her academic tenure she taught several courses within the Medical School, as well as the combined MD/PhD and MD/MPH programs. Throughout her career, Dr. Vasiliu-Feltes held several leadership positions and is a member of numerous prestigious professional organizations. She holds several certifications, such as Bioethics from Harvard, Artificial Intelligence and Business Strategy from MIT Sloan, Blockchain Technology and Business Innovation from MIT Sloan, Finance from Harvard Business School, Negotiation from Harvard Law School, Innovation and Entrepreneurship from Stanford Graduate School of Business, Certified Professional in Healthcare Risk Management, Fellow of the American College of Healthcare Executives, Patient Safety Officer by the International Board Federation of Safety Managers, Master Black Belt in Lean and Six Sigma Management, Professional in Healthcare Quality by the National Association of Healthcare Quality, Manager for Quality and Organizational Excellence, by the American Society for Quality, and Certified Risk Management Professional by the American Society for Healthcare Risk Management. Additionally, Dr. Vasiliu-Feltes is an Honorary Advisory Board Member of several companies, as well as an Editorial Board Member for several international publications, an author and TV/Media partner.