Mitchell Caldwell's Key Ideas from Blockchain Revolution
by Don Tapscott, Alex Tapscott

One of the biggest challenges to the adoption of blockchain technology is education.

It is a highly technical topic that one cannot fully learn and understand in one briefing, meeting or discussion. It truly takes a concerted study.

However, it took a while for people to realize how useful it was. Similarly, Bitcoin is the currency that will power blockchain technology in this century.

But before you can understand its usefulness, you need to know how to use it and earn your first bitcoins.

You might be skeptical of a seller who refuses to use banks or notaries, and for good reason. Banks have long served as the middleman between buyers and sellers by authenticating transactions and ensuring that property titles are correct. However, there’s no guarantee that the bank itself is trustworthy.

Banks can go bankrupt and lose money by making bad deals, companies like Uber sell customer data without getting consent from customers, and governments are capable of going bankrupt themselves.

• The internet is a powerful tool for communication, but it lacks the security necessary to conduct big transactions. However, there’s a new technology that might change this perception of the internet in the future.
• Blockchain technology is a way of managing transactions. It makes it possible for people to bypass traditional banking authorities by making all transactions transparent and decentralized so that everyone involved can see what’s happening with the database.
• Blockchain is a system of verification that makes it impossible for hackers to make changes without being noticed. It also doesn’t allow old entries to be changed, since no one entity controls the blockchain.