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CompTIA Advisory Council Busts Blockchain Myths

Downers Grove, Ill. (Sept. 17, 2020) — CompTIA, the nonprofit association for the global technology industry, has released a new free educational resource on blockchain that dispels myths and misunderstandings about a technology that has the potential to transform the way businesses and industries operate.

 

CompTIA’s Blockchain Advisory Council has identified seven popular myths about blockchain and analyzed the truth behind each one. Among the council’s conclusions: blockchain isn’t bitcoin; it’s cost-effective and efficient (not costly and cumbersome); and enterprises of all sizes can implement solutions leveraging the technology.

 

“As blockchain and distributed ledger technologies mature, business leaders will need to understand the basics of what it is and dispel the myths of what it isn’t,” said Jason Sfaelos, director, strategic business development, blockchain and neural data systems for Equinix, Inc., and vice chair of the CompTIA Blockchain Advisory Council.

 

“Over time we may see blockchain functions and their inherent value move behind the scenes becoming application enablers,” Sfaelos added. “Even then, a business should understand blockchain’s role as part of a given application, which in turn is integrated within their enterprise IT landscape. This is similar to today’s environment as businesses strive to efficiently integrate hybrid multi-cloud environments into a cohesive landscape.”

 

“The opportunities presented by blockchain are endless, from greater transparency into the business and more efficient automation, to better communication with suppliers and strengthening connections with customers,” said Elena Dumitrascu, chief technology officer for TerraHub Technologies and a member of the Blockchain Advisory Council.

 

“As more blockchain-backed business solutions are introduced in the market business executives should seek out demonstrations of these products, because the power of the technology is best understood through real-life examples,” she added.

 

7 Myths About Blockchain—Busted, available as a free downloadable infographic, is the latest in a selection of free educational materials on the technology available from CompTIA and its Blockchain Advisory Council. Other resources include:

 

● Blockchain Terminology: A Glossary for Beginners, a comprehensive list of blockchain technology terms – from address to zeppelin.
● Blockchain Decision Tree visually guides users down a number of paths to help determine if blockchain—or another solution—would work best.
● When is Blockchain or Another Database the Right Choice is a companion guide to help in decision making.
● Top 5 Accelerators and Barriers to Blockchain Adoption examines some of the factors that are accelerating – or delaying – broader use of the technology.
● Blockchain: Concept to Implementation, part of the CompTIA Learning Series of instructional videos, will help IT professionals, project managers and business advisors build their foundational understanding of blockchain.

 

The CompTIA Blockchain Advisory Council is comprised of thought leaders and innovators representing a range of markets, industries and customer segments, including entertainment, financial services, healthcare, manufacturing, public sector, software development, telecommunications and more. To learn more, visit https://www.comptia.org/membership/communities-and-councils/blockchain-advisory-council.

 

CompTIA has six advisory councils – on artificial intelligence, blockchain, business applications, channel development, drones and the internet of things – to that help shape how it addresses issues critical to the technology industry; and to promote the adoption of emerging technologies. Visit https://www.comptia.org/membership/communities-and-councils for more information.

 

About CompTIA

The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5.2 trillion global information technology ecosystem; and the estimated 75 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world’s economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce. www.comptia.org.