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Competition Buzz: The Blockchain Technology Revolution and its Impact on Economic Sectors

By  |  June 13, 2017

By: Ismael Santiago Moreno

According to Rifkin (2014), intense global competition is facilitating the continued emergence of a new and extraordinary technological infrastructure with the potential to boost productivity and reduce to almost zero marginal cost (the cost of producing each additional unit is practically nil, making the product ends up being virtually free) of large segments of economic life in the coming years.

This would trigger a new economic paradigm, where technologies such as blockchains, Big Data and the Internet of Things (IoT) will play a leading role.

In the digital age, the most important asset is the data. That is why companies recognize the strategic value of information and use it to cooperate and compete, are more productive and earn higher profits (Rodriguez, 2016).

Full Content: SSRN

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