Everywhere we turn there are those talking about how blockchain holds the power to transform the world we live in. But how will it do it, what are the challenges, and how can we make it happen? Authors Don Tapscott and Alex Tapscott explore these topics in Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.
The revolution will not be televised. It’ll be on the public ledger instead. In Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World, we’re given a look at just how transformational this new technology may be.
The book is the culmination of funded research the authors undertook to explore the benefits of blockchain technology. They outline many ways in which the tech will change the world as we know it, and push for a future more open and beneficial to everyone.
From banking to commerce, education to contracts, and much more, Blockchain Revolution is an exhaustive look at how the power of this technology can be applied to each. But there are some problems.
Kinks In The Chain
While the authors spend hundreds of pages championing blockchain, they largely avoid the issues of getting to the perfect world described in much of the book. The benefits pack the pages, but challenges get just a single short chapter, which hardly scratches the surface.
What do you do when someone steals millions in bitcoins without any way of getting them back? It’s happened multiple times already and this topic isn’t even mentioned.
How do we remove damaging information or child pornography when it’s posted for everyone in the world to see on the public ledger?
Who is going to build these services which require the resources of many of the smartest people in tech, without the compensation they’re use to receiving?
These problems and many more are ignored, while they paint a picture of a perfect world instead.
Even bigger, almost every opportunity discussed within the book could be equally as successful with technology other than blockchain. It’s like saying PHP can solve all the world’s problems, and ignoring the possibility that C may be the better way. Just because something has the potential to be life-changing doesn’t mean other opportunities don’t exist.
Blockchain offers many opportunities to advance our current tech but like every world-changing possibility, it brings with it challenges we need to overcome. Failure to recognize these challenges may derail our journey there.
We have a potentially transformative technology in blockchain and there’s no doubt that it will change the way the world works in the future. If we can find solutions to many of the challenges it already faces, we may be better positioned to push it forward, and make a more equal world for all.
Grab yourself a copy of Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World from Amazon now and learn how the future may be written on a public ledger.