Bitcoin topped the $2,500 mark for the first time recently. A surge in demand from China coupled with an increase in ICOs (initial coin offerings) is likely driving the most recent spike in price. With this milestone now in the rearview mirror, I thought it might be interesting to discuss a few applications spanning two technologies that I’m somewhat familiar with: unified communications (UC) and blockchains.
A Brief History
I began learning about blockchain algorithms in 2011, which led me to start bitcoin mining when 1.00 BTC was worth $6.00 USD. Note, this was when GPU mining (hashing with high-end graphic cards) was still economical. At the height of my mining career, I probably had 40 GPUs running concurrently.
I eventually recruited my brother to help out. We mined thousands of bitcoins. It was fun, profitable and exciting to be (sort of) on the fringe of society. I dabbled a bit in next-gen ASIC mining equipment but eventually let the hobby go when it started to feel like another job. I was busy enough building a tech startup with some awesome co-founders. Our company was experiencing a growth spurt around the time bitcoin emerged. I helped write some early UC applications for our platform, so there were more than enough exciting challenges to keep my mind occupied. Fast-forward to today, where unified communications and blockchain may now be on a collision course.
What Is A Blockchain?
Without going into a lot of technical detail, a blockchain is essentially an ever-growing list of transactions (listed in blocks) that are verified and permanently recorded. Each new block is linked to the previous block in chronological order, thus forming the chain. Blockchains are commonly stored in public distributed databases that allow for decentralized (peer-to-peer) ratification and acceptance. Blockchains are used in cryptocurrencies (like bitcoin) because they ensure a clear record of who owns what and are effectively immune from retroactive changes.
Blockchain Applications In Unified Communications
So how might blockchains be applied to unified communications? Here are three possible convergence points that we’re likely to see moving forward:
Identity: Blockchains enable people to verify whom they are communicating with. The identity management aspects of blockchains can be incredibly powerful, especially in today's anonymous digital culture. Take caller ID, for example. The name that flashes up on your desk phone or smartphone is ultimately decided by the caller. It’s easy to change, has few regulations (mostly just limitations) and has very little verification attached. It’s also easy to block or go anonymous -- like most of the telemarketing calls I receive these days. At Jive Communications, helping customers know for sure who is on the other line would eliminate a lot of noise and give users more privacy.
Order: Blockchains allow people to be sure about when communications occur. Each transaction (or block) is timestamped with a (generally) universal protocol. We can establish, verify and agree on the order of certain events and/or communication streams. As with identity, the benefits of being sure about the order of communications are numerous. If we look at law offices, for example, adding the ability for lawyers to definitively prove the order of emails, chats, texts, phone calls and even physical locality could greatly reduce the ambiguity surrounding many cases. Attorneys could also produce an immutable record of communications and billable hours for clients, reducing the friction and surprise when invoices arrive.
Establishing a consensus order of communications could greatly impact the trademark and patent world as well. Startups could more easily protect their authentic ideas. Arguments around prior art would diminish, as would patent disputes and the ability for trolls to unfairly profit from obscure licenses. Intellectual property would start to be meaningful again in the digital world, regardless of local laws and political climate. In essence, blockchains could help bring order to any field where chaos and ambiguity are expensive and order is valuable.
Automation: Blockchains can enable faster, safer and more reliable automated communication. Automated communication, or digital communication based on pre-built algorithms, is already happening at scale in some industries. At Jive, we automate a lot of our own marketing communications (emails, system alerts, call notifications, business SMS, etc). However, the type of communication that can currently be automated most easily is both non-critical and asynchronous. Blockchains can shift the playing field here, allowing authorized, bi-directional communications and transactions to occur more freely in an automated environment.
A quick example: The typical auto dealership has people ordering cars, verifying shipments and paying invoices. Systems could be developed to handle these tasks, but it's currently not feasible to hand all the keys (especially contract payments) over to a bot. Blockchains could enable dealerships to automate their order process from start to finish. When bots start communicating with each other and paying each other for services, things start to get real (well, sort of). Having a clear, chronological and immutable history of communications and financial transactions between algorithms becomes essential for this type of automated system to flourish.
Conclusion
Based on the utility of being sure about identity and order, and the increased focus on automation, I think there is a good chance that blockchains and unified communication technologies are bound to converge eventually. We’re still a ways away from that taking place, but the development of these two technologies working congruently is inching us closer to a world with less noise, more surety and, ultimately, more efficient communication.
