The Curious Case of Blockchain Explainers

There’s an old adage that says if you can’t explain something simply, you probably don’t understand it well enough. Well, in the exhilarating chaos of 2017’s blockchain frenzy, a few CEOs took to the stage at the Global CEO Conference to attempt just that. Spoiler: results were as mixed as a fruit salad.

Generational Perspectives on Blockchain

Age seemed to play a significant role in how these CEOs grasped the concept of blockchain. Ronnie Chan, chairman of Hang Lung Properties, humorously demonstrated this trend. When pressed to explain blockchain, he resorted to his smartphone, saying, “I can read you what this thing tells me. Do I understand it? I’m not sure.” Can’t blame him. I barely understand how my washing machine works, let alone blockchain!

Simplifying Complexity: Goodwin Gaw’s Take

Then there’s Goodwin Gaw, the founder of Hong Kong’s Gaw Capital Partners, who cut through the complexity with a straightforward analogy: “Blockchain is just a new way for someone to sell something to another person or to a lot of people, bypassing all the middlemen.” Quite the practical perspective! He essentially painted a picture of blockchain as the digital equivalent of a garage sale, where everything’s up for grabs without the hassle of a middleman. Who doesn’t love that?

Brendan Blumer: The Security Advocate

And for the cherry on top, Brendan Blumer, the CEO of Block.One, gave us a nugget of wisdom that really hit home: “If the Internet was mass scalable insecure data transfer, Blockchain is mass scalable secure data transfer.” It’s refreshing, really. Amidst all the jargon, here’s a CEO who managed to translate blockchain into something that even my grandmother could understand—if she knew what the Internet was, that is.

The Evolving Faces of Blockchain

Since the whirlwind of interest in 2017, blockchain has morphed in ways that sometimes make you wonder if it’s still the same technology that started the Bitcoin revolution. As legacy institutions leap aboard the blockchain train, the desire to put their stamp on this innovation has led to many interpretations and implementations—some of which stray far from the original plan laid out by cryptocurrencies. It’s like trying to recreate a classic burger but ending up with sushi instead. Delicious? Maybe. Authentic? Not even close.

Conclusion: In Search of a Common Definition

In the end, if you ask CEOs what blockchain is, you might get responses as varied as the flavors of ice cream at your local parlor. But one thing’s certain: whether they’re reading from their phones or skipping the middlemen, the quest to define blockchain reflects our growing need to adapt to a technology that’s reshaping our economy at lightning speed. Isn’t it refreshing to see industry leaders grappling with the same baffling concepts as the rest of us? It’s a reminder that we’re all on this wild ride together!