David Washburn

David Washburn on London Fintech podcast: nChain is building enterprise-grade blockchain solutions for businesses

nChain CEO David Washburn recently guested on the London Fintech podcast. 

nChain is a household name at this point, but not everyone is aware of what they do day-to-day or their overall vision.

“At nChain, we are working toward building enterprise-grade blockchain solutions for business,” Washburn said. “The key part of our solutions is harnessing the power of our technology to better understand, organize, use and eventually monetize data, that way of thinking forms the background for everything we are doing when we are facing our enterprise clients.”

He added, “nChain now is over 200 people with a large focus on engineering and research. We are one of the global leaders in intellectual property in the blockchain space with one of the earliest and largest portfolios of patents. We are now working to turn that research-based knowledge into products that are of benefit to real-world business.”

One of nChain’s products will be launched in Tuvalu, according to the nChain CEO. The island nation that will be going paperless and fully digital by porting their operations to the Bitcoin blockchain, and nChain—with the help of Faiā and Elas Digital—is working to bring that blockchain solution to life.

“Tuvalu, like many island nations around the world, are largely physical-based in terms of records and currency. On most small islands you go to, you will notice that there is a higher cash utilization rate than is typical in other places. You don’t see electronic payments being a bigger part of what they are up to,” Washburn said. “They actually had some challenges running out of physical cash at one point and given their remote location, there are significant logistics associated with that. This really spurned the idea for them to look at ways that they can use technology to deal with these challenges that are fairly unique to them and other island nations.”

David Washburn, and London Fintech podcast host Mike Baliman, went on to discuss how a blockchain can improve systems and processes, who gets empowered when operations get digitized, and the future of digital transformation.

“I think there is going to be a really interesting [future] with unbounded potential. I come back to this concept of taking data out of silos and making it truly interoperable, reducing the friction associated with access to information, or increasing the ability to give permissioned access, is really fundamental to the digitization concept. But I think it’s here to stay for sure, and five years from now we probably won’t be talking about it as a thing because so much of it will already be part of people’s real everyday lives,” Washburn said.

You can learn more about how Washburn got into investment banking and blockchain, the work that nChain does as well as how they are building a blockchain solution for Tuvalu, how blockchain solutions can optimize processes, and who digitization empowers in episode 173 of the London Fintech podcast, “The Blockchain Digitisation of Tuvalu & Implications of Digitisation At Large w/Dave Washburn CEO nChain.”

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