Best of 2018: 5 Predictions About Blockchain and Compliance

As 2018 draws to a close, we’re taking a look back at some of the most valuable insights our authors have shared.  In case you missed it, this is one of the articles our readers couldn’t get enough of this year.

 

The Potential Changes Coming

There’s still a significant amount of uncertainty around blockchain, but the technology is already proving transformational, and its use in the GRC field may just revolutionize the compliance and audit professions. Christian Auty offers several predictions about the impact blockchain will have on compliance.

The bloom is off the rose.

The uncertainty – regulatory and otherwise – that pervades blockchain technology is increasingly apparent. There are scams like Bitconnect, telegram-fueled pump-and-dumps and bad actors galore. But there is also, underlying it all, an absolutely revolutionary technology that will change certain industry and commerce irrevocably (check out DHL and Accenture’s new program to prevent pharmaceutical tampering).

Compliance professionals will play a critical role 1) to help these companies operate lawfully in a dynamic and changing regulatory environment and 2) because blockchains have the potential to change the way investigations and audits are completed.

We can and should expect to see distributed ledgers that…

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