Bridget Greenwood on Blockchain

and the New Politics of Social Media

14

February, 2018

Bridget Greenwood, Director of Financial Social Media UK, in her keynote speech on Sunday discussed how the financial services are seeing a shift in the way they adopt social media to communicate with customers. With social buyers buying 61% than non social buyers – the question to be asked is what has been the influence of social media on the concept of ‘social buyers’?

“We can use technology such as Blockchain to disrupt the charitable gift sector”

– Bridget Greenwood

Mrs. Greenwood introduced the topic of blockchain technology as a new phenomena that is challenging everything. Due to the wide scope of the use of cyryptocurrencies, there are individuals who feel it needs adapting to be used safely, but then there are others who see its use for exploitation. Mrs. Greenwood told us that the growth in popularity of cryptocurrencies means that we are living in a dangerous time where maturity and knowledge is vital. It goes without saying that regulation is crucial. Regulators all around the world are responding in different ways to the global question of how we can regulate crytocurrencies. The USA and the UK for example are trying to strike a balance by making regulations that attempt to weigh consumer protection against continuation of technological growth.

With an imbalance of power in many sectors including data, banks and governments, everything is revolved around centralised systems: Mrs. Greenwood told us that blockchain technology is the future to overturning this. Bitcoin, the most well known cryptocurrency, is permissionless, trustless and peer to peer. It is distributed, open sourced and transparent. All of these elements of cryptocurrency threaten our traditional concept of centralisation. According to Mrs. Greenwood, the great excitement of our time lies in the unpredictable merge of financial services, fintech and regulation, with the world of cryptocurrency and AI.

Companies like Giftcoin are linking social media and cryptocurrency in order to make charity giving more transparent, using the blockchain. Mrs. Greenwood emphasised that this is just one innovative way in which we are using technology to decentralise traditional methods of payment so that we can guarantee total trust in knowing where our funds are going.

 

Written by Mia Daoudi.

Warwick Congress Blog

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