What about Deep Ledger Technology?
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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So, Deep Ledger Technology is another name for Blockchain. Blockchain is a relatively new and emerging technology that is commonly referred to as a ‘Digital Ledger.’ It is a list of records (referred to as blocks). It allows digital information to be entered, distributed, but that information is not allowed to be copied and most importantly it cannot be altered. That makes this highly secure and very desirable for a wide variety of applications. It first appeared as a core component of cryptocurrencies. Here is a link to a webinar on cryptocurrencies. Although a bit dated now (April 2017), it sets much of the foundation.
LINK: https://www.projectmanagement.com/videos/380495/Cryptocurrencies
The Blockchain overall market is projected to grow to $169.5 billion by 2025 from a mere $1.3 Billion in 2017. That is very aggressive growth. Many believe with the explosion data we are currently experiencing and that is expected to continue, these estimates of dramatic growth could be highly likely. In 2018, IDC estimated that data will grow to an astonishing 175 zettabytes worldwide by 2025. It is clear, that much data, demands aggressive management techniques. When asked if Blockchain was a strategic imperative a limited number of respondents felt as follows, only 15% said YES and 35% said NO, with the remainder stating they were unsure. It should be noted, many professionals are not really sure what blockchain is, or how the technology can be used. Clearly blockchain appears to be following Gartner’s Hype Cycle
Gartner’s Hype Cycle – LINK: https://www.gartner.com/en/research/methodologies/gartner-hype-cycle
There is little question, blockchain holds the promise of solving many of the data management problems we currently face as well as reducing our costs. There are a number of new products and services that leverage blockchain that have the potential to become commonplace throughout the digital world. This is another of the many emerging technologies that appears to be on the horizon with disruptive potential. As such, program and project managers should familiarize themselves with the technology.
Posted on: January 02, 2020 11:05 AM |
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Comments (11)
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Mark Markowitz
Project Executive| Independent Consultants
Ontario, Canada
Great timing. We are discussing the first blockchain initiative - a prototype financial application. I will collect the raw data and send it to you. Perhaps you can write a follow-up on blockchain projects.
Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Kevin
Interesting reflection on the topic
Thanks for sharing
I've had a chance to watch the webinar
For those in our community who have not attended, I recommend that you listen to
I'm waiting for the up-to-date and promised Cryptocurrencies webinar :-)
Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Kevin
DLT usually means Distributed Ledger Technology, in which case the blockchain is a specific case of a DLT.
I had never heard of Deep Ledger Technology
Ivan Moreira
Program & Project Manager | Affidea Group
Lisboa, Lisboa, Portugal
Dear Kevin,
Very nice point of view, in your article, despite DLT (assuming that you refer to Distributed Ledger Technology), is a network model to support blockchain technology.
To face and help this technology growth Linux Foundation created Hyperledger, it is an open source effort to advance cross-industry blockchain technologies for business use (to make DLT more transparent and reliable. It’s a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, IoT, supply chain, manufacturing, and technology.
The Gartner prediction about blockchain to 2025 is 176bi, almost the same number provided by IDC, but most incredible is the projection to 2030 points it into 3.1 tri, an amazing future for this technology!
One of the challenges with blockchain has been finding commercially viable use cases which are not extreme niche solutions. Perhaps the "holy grail" of blockchain enablement will be a national user database to ensure integrity of key personal data and reducing the possibility of identity theft...
Hi Kevin,
Interesting reflection. Where can we consult the Blockchain overall market projected numbers that you present?
And the figures regarding the question "Is Blockchain is a strategic imperative?", are you using the number from the responses to your previous post, or is it based on some other research?
As Luis Branco pointed, I also never heard of Deep Ledger Technology. Is that a term that you coined? I like de term, but is it as you state just another name for Blockchain? Or is it something else? Can't it be confused with DLT (Distributed Ledger Technology), a very common name in the blockchain community?
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Sebastião Here is the link to the poll for the latest figures
https://www.projectmanagement.com/polls/594144/Is-Blockchain-a-Strategic-Imperative-
DLT Deep Ledger Technology it is also call Distributed Ledger Technology both were the titles used by some venture capital investors at a conference and it was catchy so . . . The "Deep" was coined due to the use in the 'Deep Web' infrastructure. I would also mention it is a big part of the 'Dark Web' infrastructure as well
Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Kevin
In our community we are 390,303 members (universe)
To draw conclusions with 95.5% certainty and a margin of error of /- 5% one had to get 400 answers.
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Luis I don't remember seeing any of the blogs with 400 respondents on here. That is why I noted " a limited number of respondents" in my blog posting. I wish there was a way to do a poll during my webinars. I have referenced them and gave a link but to do the poll while the webinar is going on does not seem to be a feature.
Perfect.Thank you for sharing.
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