Blockchain: One emerging technology—so many applications

Abstract

ABSTRACT It is clear from the expanding literature that blockchain technology is a trend potentially on the brink of revolutionizing the public and private sectors. There have been conferences, books, white papers, start‐ups, and numerous back‐channel discussions on ways blockchain technology can address seemingly endless processes, and it is on the radar of many information professionals. Blockchain technology has the potential for organizations to accomplish much more than cryptocurrency, payments or housing electronic credentials. Currently, organizations are experimenting with its use in a variety of settings from land transaction recording, medical recordkeeping, supply chain management, regulatory compliance, identity management and beyond. The technology enables a broader impact within the information community and around the globe. Some suggestions being mooted for blockchain applications in information centers include building an enhanced metadata center, protecting Digital First Sale rights, supporting community‐based collections, and facilitating partnerships across organizations. With its potential to transform social, political and economic interactions, and the way that information is managed, there is more to explore about how blockchain can be applied to manage information and what the ethical implications may be. The panelists will provide an update on the current and future uses of blockchain from their own ongoing research: they will present the recommendations developed from the IMLS‐funded project to investigate the possible uses of blockchain, research outcomes from the University of British Columbia's Records in the Chain Project, and the outcomes of a recently completed project (Project Novum) that focused on the organizational and structural issues in visual arts and financial services.