The conversation turned toward the power of the applicability of smart contracts within blockchain. Kuhlman described it as the ability for technology to be trusted, where agreements are automatically acted upon when specific conditions are met. In a business where trust in documents is invaluable, this advancement would be a boon. A key to the success of the smart contract is developing oracles — or trusted sources of information — that would offer data, such as the price of a stock on a given day or a death record.
Also, you could see the audience lean in when the topic of cryptocurrencies sprung up — another innovation tethered tightly to blockchain technology. The proliferation of companies now raising money by launching an ICO (Initial Coin Offering) and the millionaires it has produced seemed to leave mouths agape for the final portion of the panel discussion. A graphic showed that the $150 billion market cap for all of virtual currencies dwarfed some bricks & mortar businesses and underscored the power of this burgeoning industry.