- Pricing and telematics lead the charge as insurtech patents jump 40pc
- FCA puts general insurance pricing practices under review
- Volvo and Baidu reach agreement to produce autonomous vehicles
- Cyber and D&O exposures increasingly intertwined, Airmic report finds
- Arch selects Touchstone for cat risk modelling
BOOK: Blockchain For Dummies, by Tiana Lawrence
Written by (reviewer) Deborah Ritchie, Editor, CIR
Blockchain For Dummies
Tiana Lawrence, Wiley, 2017
Have you mastered the art of beekeeping, guitar and quilting? Then why not try blockchain. Despite the wide variety of general interest topics for which the Dummies series may be best known, the vast collection of ‘how to’ guides boast numerous titles providing in depth analysis on a variety of business topics – including a few for risk professionals. As some readers will know, along with the Cabinet Office and the Business Continuity Institute, CIR was consulted in the preparation for the series’ Business Continuity guide. Now, the beloved brand has turned its attention to blockchain.
Blockchains, according to the author, are now recognised as the fifth evolution of computing, the missing trust layer for the Internet. It may be one of the latest industry buzzwords, but I’ll wager that few know exactly how it works or how it may be applied in their industry.
A blockchain is a data structure that makes it possible to create a digital ledger of data and share it among a network of independent parties. When information has been written into a blockchain database, it’s nearly impossible to remove or change it. The technology can be applied to virtually every business domain, with current growth most notable in insurance, government and healthcare, its benefits including lower risk of lost documents and costly disputes, reduced audit time and added transparency.
You don’t have to be particularly tech-savvy to enjoy or benefit from Wiley’s latest book on this exciting new topic, and Blockchain For Dummies makes an informative addition to the publisher’s famous series that’s not just for fun. On which note: not strictly for risk practitioners but still of the risk ilk, one of my fellow editors even credits Australia’s Dangerous Creatures For Dummies with saving his life following a perilous encounter with a cassowary... (I had to look it up, too.)