New HuffPost Blog: Toufi Saliba on the Hidden Economic Potential of Blockchains

May 18, 2017

ACM contributes a monthly blog on current issues in technology and society to HuffPost. Written by ACM members and guest authors, these blogs offer unique insights by computing professionals to improve the public dialogue around technology news. ACM bloggers also explore the ways in which computing and information technologies impact how we interact with one another and how these forces are reshaping the basic frameworks of society.

In his May 18 post Blockchains Could Add Trillions of Dollars to the Global Economy, Toufi Saliba, CEO of PrivacyShell and Chair of the ACM Practitioners Board Conference Committee, defines blockchain and provides many illustrations of its economic potential. The new technology promises greater financial inclusion for people in developing countries, giving them access to an efficient system of securing their finances. It is also poised to open up a new market for the financial services industry to provide mortgages, loans, and other services to five billion people. Once realized, the distributed and decentralized power of Blockchain could enable the entire global economy to run simply on connected smartphones, without the cloud, servers, central entity, or government.

Read all ACM contributors' posts on ACM's HuffPost Blog page.