As the curtains start closing on this year’s World Economic Forum in Davos, it’s time to start looking at the ideas that may steal the show. And the one big thing Biznews founder Alec Hogg latched on to was Blockchain. He says it’s a bit like the Internet in 1996, over-flooded with unbelievers at one point. But just as industries were killed back then, so others will come under renewed pressure as Blockchain takes off. But in any tug-of-war, where one side loses a little, so the other wins some. We live in interesting times but the one thing you can make sure of is to stay informed, and as The Buggles sang in the 80s ‘video killed the radio star’, one wonders what’s in Blockchain’s sites… – Stuart Lowman
Well, here we go with Davos Diary: Day 4. Anyway, who’s counting? It has been a fabulous time. As you can see, I’m still dolled up in my big suit to go out into the snow. -12 has been the average. The sun is shining at -12. In fact, last night we walked home in -22 so it’s like going to the North Pole. I guess Lewis Pugh would tell you it’s a long way from the North Pole. Anyway, Davos has been – once again – very stimulating.
I had the privilege of interviewing Anil Agarwal. He’s the Founder and Chairman of an Indian Resources Company, called Vedanta. He’s just invested $1bn into South Africa. He says it’s the easiest investment he’s made as far as the government is concerned and he didn’t touch any corruption along the way. He’s an inspirational man. Go and read or listen to the interview that you’ll see on Biznews in due course.
Also, today I have an assignment with the International Media Council. For me, this is the highlight. That’s why I’m looking this, because I have to get out of the conference centre very shortly. It’s the highlight of my week because a group of guys from the media get together. They trot out a number of senior global statesmen and kings of various industries and we get to talk to them. Unfortunately, it must be off the record but it does give you some good insights into what’s happening in various parts of the world. This should be yet another fascinating insight. I think we’re going to talk to the guy from the Trump administration. There’s one person from the Trump administration here. If he’s still around, he’s no doubt going to be popping in.
Finally, I’ve been looking into Blockchain quite a lot and you might be aware that I’m one of the Internet pioneers. I started an Internet publishing business in 1997, and listed it in 1999. In those early days of the Internet, many people were unbelievers. Apparently, the protagonists of Blockchain tell me it’s like the Internet in 1996. The more I learn about it, the more I realise that the way that the Internet killed certain industries such as newspapers and travel agencies for example, the same way Blockchain is going to be killing industries as well.
If you’re in banking, insurance, or asset management; get to find out about this stuff pretty quickly because it’s the big monster that will be chewing up much of those profit margins. This is Alec Hogg from Davos with your diary, brought to you by Brightrock.
