Blockchain is sometimes called distributed ledger technology (DLT). It is a decentralized and distributed ledger with a network that is unalterable. Consensus mechanisms and cryptography secure the network. The blockchain has strict rules for adding data. Any data added cannot be modified. For this reason, technology is a legitimate disruptor in industries like cyber security, payments, and healthcare.
BlockchainNZ is one podcast looking to bring New Zealand more into the blockchain ecosystem. The acceptance of blockchain may have taken a while, but the technology has gone mainstream these days. New Zealand ranked 25th out of 26 countries featured in research by Finder’s Crypto Adoption about cryptocurrency adoption. The rate of crypto ownership in New Zealand is 7%, eight points below the global average. The conversations on BlockchainNZ are about finding opportunities for New Zealand businesses in the blockchain tech ecosystem.
Conversations with Blockchain Enthusiasts
The BlockchainNZ podcast was founded in 2022 by Bryan Ventura and Jeff Nijsse to highlight NZ-based organizations and people. Nine episodes in, the podcast has brought on professionals bringing innovations to blockchain in different capacities.
In episode nine, Marc Krisjanous talks about security standards in crypto. Being a cybersecurity and now crypto auditor, Marc’s current job is to develop the new cryptocurrency auditor certification course (CCSSA). It is a first of its kind. Marc was the first to use the standard in auditing a business to establish the capabilities of its crypto security practices.
The groundbreaking conversations about distributed ledger technology explore how this new tech is changing businesses. Nijsse and his guests chart the way forward for small and large businesses. Some of the emerging issues talked about are the impact of DeFi and Web 3.0. Professionals in different spheres learn how features like these apply to the blockchain ecosystem. Nijsse and his guest help businesses stay ahead of the curve with all things blockchain.
Brian Ventura and Jeff Nijsse came together to form BlockchainNZ. It is an association of individuals and organizations in the rapidly developing financial services sector, public sector communities, and IT. Bryan Ventura is a senior lawyer at MinterEllisonRuddWatts in commercial and financial regulation. He is also an angel investor for startup companies operating in FinTech. Working with virtual service providers like cryptocurrency companies that come as disruptors of the traditional financial industry.
Jeff Nijsse is a senior lecturer in physics, mathematics, and cryptocurrencies at Auckland University of Technology. Jesse hails from Ancaster, Ontario, and has graduated with a Master of Applied Science in Aerospace Engineering from the University of Toronto.
The easy-going discussions on the BlockchainNZ podcast are the perfect launching pad for business professionals who want to understand blockchain technology. With loads of useful information on released episodes, the podcast holds much promise for the future, with much more information to unravel.
Behind the Podcast
The BlockchainNZ podcast is an eponymously named extension of the organization. BlockchainNZ, as an organization, was established in 2016. It started as a membership-based group aimed at growing and supporting the blockchain environment in New Zealand.
In 2018, it became part of the Tech Alliance, which comprises over 800 organizations in New Zealand’s tech landscape. It has since bolstered its efforts to achieve the goal of a more crypto-friendly New Zealand.
BlockchainNZ is run by an executive council in which Bryan Ventura is the chair and Alison Mackie is Executive Director. The organization comprises tech companies across New Zealand brought together by the same interests. Some key aspects where members of BlockchainNZ benefit include increasing collaborations in the blockchain space. Members also benefit from the creation of opportunities for blockchain-related projects.
The organizations brought together by BlockchainNZ share common interests. Some of the key interests held by most members regarding blockchain are using digital identity, solving the challenge of access to basic banking services, and the relation between cryptocurrency and the relevant regulatory regime.
The organization is part of the vanguard for the fast-developing crypto environment. BlockchainNZ hosts virtual workshops and other efforts to educate the public about cryptocurrency. The organization is helping restructure industries in readiness for the future by joining forces with and educating tech businesses in New Zealand.
Industries That Jumped Right on the Cryptocurrency Trend
There has been a lot of speculation about cryptocurrency’s long-term viability and the dream of decentralization. The end of cryptocurrency and the aim of decentralization have become hot topics! A lot of the enthusiasm generated by cryptocurrency has now become apprehension after 2022 proved to be the worst year.
The iGaming industry is one of those that adopted cryptocurrency just as it hit the masses. Now you have online casinos solely based on cryptocurrency. The iGaming market in New Zealand has long since accepted cryptocurrency, providing a more immersive user experience. It can be hard to locate a New Zealand online casino that operates with cryptocurrency; that’s why reading reviews can be of huge help. Learning about some of the most reliable operators in New Zealand can help you grow your crypto fortune. After that, all you need to do is wait for the right time for the price to grow, exchange your crypto wallet and amass big bucks.
Crypto is Changing the Global Economy
Since Bitcoin was introduced as a white paper in 2009, many other cryptocurrencies have emerged. The electronic peer-to-peer cash system then seemed a bit before its time. While it may have taken some time to get mainstream, cryptocurrency has gained acceptance.
Niche group investors took advantage of this new technology and its meteoric rise in value. On the other hand, individual investors found themselves locked out as this new technology was relatively unknown to them.
In 2014, many multi-internationals began accepting cryptocurrency as payment. Pavilion Hotels, Starbucks, Master Card, and AXA Insurance were some notable companies making this shift.
With crypto everywhere now, from boardrooms to digital art auctions, there is no denying that crypto has the potential to shake our lives up as the internet or mobile phone did. One of the significant changes to come with crypto is the emergence of a new market that, unlike anything before, is autonomous.
With it, cryptocurrency ushers in the hitherto inconceivable death of central banks. Cryptocurrency threatens the economic power held by financial institutions and governments. Decentralization takes power from the big financial institutions and places it with the masses. That cryptocurrency can change transaction handling means that it can change the global economic structure to a great extent.
Even with the great potential that it holds in changing the global economy, the recent pounding that cryptocurrency has undergone has slowed things down. The usual volatility Bitcoin was known for went down after a hugely profitable year in 2021 when the cryptocurrency hit its all-time high in value.
Despite the recent downturn in cryptocurrencies, the technology behind them is sound, and industries in New Zealand and the rest of the world are looking to get in on the action. Some industries are inevitably intertwined with blockchain technology thanks to the new way of doing things it introduces. The metaverse is introducing us to blockchain games that need this technology for the full experience.
Cyber security is one of the industries where blockchain comes in handy. That blockchain is a decentralized network makes it ideal for scenarios where high-security levels are required. Encryption through a cryptographic algorithm leaves no single point of entry that would allow for a wide-scale attack. It is also easier to detect malicious attacks thanks to peer-to-peer connections that prevent data altering or tampering.
In healthcare, blockchain assists with patient data storage, which has been a big issue. Data stored centrally can easily land in the wrong hands. Blockchain technology removes the need for a central authority to keep data protected and easily accessible. Additionally, corrupting data with connected blocks across a blockchain takes work.
Blockchain technology’s supply chain management protocols can also help deal with counterfeits. By tracing medicine’s origin, counterfeits are stifled.
Conclusion
Blockchain technology has been around for over a decade, but many people have yet to understand it. As businesses grapple with the blockchain ecosystem, podcasts like BlockchainNZ help cut through the crypto jargon for your benefit. The insightful conversations on the podcast are sure to keep individuals and businesses up to speed with current trends for this new asset class.
