Is blockchain snake oil or is it the future? Despite the hype around blockchain technology, there are also many realistic possibilities for blockchain in libraries in the future. Librarians should learn more about blockchain technology in order to gain a solid understanding of it and take a leadership role in envisioning how this new technology can enhance and improve library operations and access.
Throughout our eighteen-month investigation of blockchain technology and its implications for libraries, we identified the following as some of the most promising ideas for testing out blockchain technology in libraries. International ILLs could use blockchain to help libraries easily pay for international ILL requests using cryptocurrencies and track ILL transactions. Universal library cards could be created using blockchain technology and potentially improve access to materials in public libraries across library systems. Libraries could get involved in credentialing, which could use blockchain technology to verify and hold some of the credentials and identity documentation for stateless and other individuals in the blockchain, and they could also use blockchain to issue credentials to users who achieve certain skills (such as information literacy skills). Blockchain could also be used for archival records, particularly to determine the accuracy and consistency (validity) of data over its life cycle.
While many benefits of blockchain technology are touted, such as its immutability, its elimination of the middleman in transactions, and its near tamper-proof security, there are also many concerns about this technology: its costs, its environmental impact, what happens if someone loses or forgets his private key, and how to address privacy concerns such as the right to be forgotten. As blockchain technology matures, librarians should pay close attention to the development of standards, privacy protections, security, and legal implications to ensure that these align with library goals and support the needs of libraries.
As we look to the future, the next step that is needed is to create testbeds for some of these ideas so that libraries can get a full sense of where and how blockchain could help them and where other technologies might offer better solutions. Creating testbeds presents a great opportunity for libraries to work collaboratively together to develop blockchain pilots and lead the way into the future.