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The Future of Blockchain

Updated: Nov 19, 2019

Blockchain is at the forefront of a technology revolution. Like any revolution, the path to get there is not easy, it is confusing, horrifying, and ever evolving. The purpose of this article is to provide you a high level of education of Blockchain Technology.

What is Blockchain?

Blockchain is not bitcoin or a hacking system. It’s a digital record keeping network.

Let’s think of Blockchain like a crossword puzzle. A letter in one block is connected with another to form a word or a phrase. Each letter gives you a clue. In Blockchain technology, each block contains a specific ledger that is chained up with another block of ledger to form a transaction trail. That’s how I would describe it.

What are the main Strength, Weakness, Opportunities and Threat?

Strength: Blockchain is great for Fintech.

(Financial Technology) Blockchain is already being implemented in payment systems, cryptocurrency, real estate contracts and other smart contracts. The transaction storage in each block is transparently and easily verified. Therefore, the growth momentum is still going strong.

Weakness: Lack of public education.

The 2019 poll by London based Ernst & Young found that 68% of business executives don’t trust this technology, nor do they understand it either. So, building trust and awareness is still a challenge today. It is also unknown whether there is an alternative network back up in case of system malfunction.

Opportunities: More room for market expansion.

The Blockchain application can be implemented in many other types of business transactions. It can be used in voting systems, logistical systems, medical research, supply chains, city planning and energy saving. When paired with a secure and reliable global network, it can achieve a data decentralization for many businesses.

Threat: Government inability to keep up the pace.

FinCen (US Financial Crimes Enforcement Network) must have a consistent policy and procedure with a centralized regulatory approval standard. Although SEC and FBI has put a focus on cryptocurrency and Blockchain technology this year, there is no universal compliance standard to control the risk for abuse such as money laundering.

Ironically, this technology can do many great things or many bad things. After all, we should stay open minded, alert and continue to increase our knowledge base about this evolving technology.


Kimmy Wan has more than 20 years of experience in financial services industry.

Kimmy was a Vice President-Sr. Financial Consultant, Manager of Asia Pacific Relationship Management and a Mutual Fund Operation Analyst for Financial Corporations. Kimmy is a wealth advisor helping those who are retired as well as those planning for retirement. She graduated from California State University, Sacramento in 1998 with a B.S. degree in Finance and Economics and then obtained her MBA in Finance from the University of Phoenix.

Kimmy specializes in modern portfolio management, risk management, financial planning, and investment strategic planning.


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