In my teaching context, blockchain is a technology that is starting to remediate technologies and business practices. At its core, blockchain is a technology that permanently records verifiable transactional information in an encrypted decentralized network that cannot be manipulated by third parties (Turkanovic et al., 2018). As the information is contained in a decentralized network, it makes unauthorized access or ‘hacking’ almost impossible. In my organization, we have recently started using Org Book, a blockchain project led by the Government of BC that provides users with a searchable general ledger of verified BC business information. Prior to Org Book, verifying BC business information required opening accounts, filling out forms, and visiting brick and mortar offices. Org book has streamlined how we obtain business information and our ability to discern a business’s legitimacy and compliance with the Province of BC.

Org Book and other blockchain technologies are remediating local records and databases used to store business and personal information. Prior to Org Book, one often needed to request information from several different government and affiliate offices to obtain the same information, as the information was stored on a local database specific to individual offices. As Bolter and Grusin (2000) argue, remediation has economic, cultural, and social aspects. The reduction in sources and interactions inherent in blockchain’s general ledger reduces administrative time and costs, which increases Org Book’s economic viability as remediation for local databases. As government and educational institutions are often targets for hackers, the decentralized network reduces costs, social risks, and cultural fear associated with fraud and identity theft, solidifying blockchain’s economic, social and cultural place in the remediation of local databases and record keeping. Turkanovic et al. (2018) note a similar dynamic in educational record-keeping and credential verification in the blockchain pilot EduCTX.

While blockchain offers increased security and access to information, it is not without risks. Loss of information due to lost keys or passwords is a drawback, as evidenced by the recent $190 million cryptocurrency lost due to lost password (Cuthbertson, 2019). On one extreme, fear of fraud and identity theft have led to the unalterable decentralized network of blockchain for protection, while on the other extreme, the unalterable decentralized network may lead to losing access to information with no recourse. The changing dynamic of blockchain is reminiscent of McLuhan’s tetrad, as the technology for record-keeping seems to flip to its opposite when under pressure. However, it is the social and economic pressures that flip record-keeping technology aligning with Bolter and Grusin’s (2000) remediation.

References:

Bolter, J.& Grusin, R. (2000). Networks of remediation. In Remediation: Understanding New Media. Cambridge, MA: MIT Press.

Cuthbertson, A. (2019, February 5). Millions of dollars of cryptocurrency lost after man dies with only password. Independent. Retrieved from https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-exchange-quadrigacx-password-cryptocurrency-scam-a8763676.html.

Turkanovic, M., Holbl, M., Kosic, K., Hericko, M., & Kamisalic, A. (2018). Eductx: a blockchain-based higher education credit platform. IEEE Access, 6, 5112-5127.