Developing-Leaders-issue-31-2019

Developing Leaders Issue 31: 2019 | 63 Executive DEVELOPMENT How Blockchain Benefits Business Rotman School of Management’s Andreas Park explains why blockchain technology and machine learning are keys to future business success, in conversation with IEDP Developing Leaders. B lockchain technology has had some bad press over the past couple of years, largely due to the frenzy caused by speculation in the unregulated market in the Bitcoin cryptocurrency. But also due to the perception that cypherpunks, working in the blockchain space, are generally anti- business and out to kill off banks and undermine the system. This has been a distraction. Blockchain, the technology behind cryptocurrencies, is a rapidly maturing, reliable, and essentially safe form of digital interconnectedness, that is set to revolutionize many of the ways we do business – and now is the time for senior leaders to take notice. “A business leader needs to understand what the technology can do, what it can’t do, what the limits are and what the opportunities are,” says Andreas Park, Associate Professor of Finance at the University of Toronto’s Rotman School of Management. BY Peter Chadwick

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