Better togetherTipping Points

Tuesday, 1 July 2025

article

Chain reaction

For about fifteen years, blockchain has been carving its path through the digital economy. Now maturing beyond its crypto origins, it may be nearing a new tipping point, one that could transform how we exchange value and organize society.
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A distributed digital ledger

Blockchain is a decentralized technology for storing and transmitting information, functioning as a digital ledger shared across a network of participants. Each “block” contains data (transactions, contracts, etc.) that is collectively validated via a consensus mechanism, then linked to previous blocks to form an unalterable chain.

Its core ambition is clear: to eliminate traditional trusted intermediaries (banks, institutions, platforms) in favor of a protocol that is secure, transparent, and automated.

Thanks to cryptography (a set of techniques, including encryption, that protect information), the data recorded on a blockchain becomes immutable, any change is timestamped and detected, ensuring integrity and traceability.

Autonomous programs called “smart contracts” can automatically execute actions once pre-defined conditions are met. 

Beyond Bitcoin

Like any potentially disruptive technology, blockchain had a tumultuous start, closely tied to its early use cases in finance: speculative bubbles around Bitcoin, hype-driven cryptocurrency fundraising, etc.

But behind the volatility, a deeper shift is underway. Various sectors are already exploring practical blockchain applications that signal real disruption: 

  • bankless loans and trading in decentralized finance,
  • supply chain traceability (see example below), 
  • academic credentials, property titles, and identity documents on blockchain, 
  • or the authentication of artworks through digital certificates.

Each use case suggests a new model in which trust is placed in technology - not in traditional institutions. 

A revolution in the making

Widespread adoption of blockchain still faces major hurdles. First, its technical complexity: core concepts remain obscure to the general public, and user interfaces are not yet intuitive. Limited interoperability and high energy consumption also hinder the scaling of projects.

Moreover, a lack of clear legal frameworks slows down investment and institutional involvement, also human and organizational resistance remains high, blockchain challenges entrenched systems built on intermediaries and demands a cultural shift.

Overcoming these barriers requires broad-based education (citizens, companies, governments), clear regulation, and technical innovations to make blockchain more energy-efficient and user-friendly.

It also means building bridges between traditional players and innovators, so blockchain can become a tool for gradual transformation rather than sudden disruption.

If these challenges are met, blockchain could have a massive impact. It may help rebalance economic and political power, as well as pave the way for a more decentralized social organization.

Already, new models are emerging - such as decentralized autonomous organizations (DAOs), collectively governed via blockchain protocols. 

A real-world example: food blockchain at Carrefour

Since 2018, Carrefour has used blockchain to offer full transparency on the origin and production conditions of certain products. Every stakeholder in the chain, farmers, processors, distributors,  records secure and tamper-proof information that is accessible via a QR code on the packaging. The first product to benefit was the Auvergne chicken from the Carrefour Quality Line. When blockchain technology is applied to product transparency and food safety, the result is a positive impact for the entire value chain, from farmer to end consumer.

What if trust no longer came from banks, states, or institutions - but from code?

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