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Blockchain Revolution Summary
About Blockchain Revolution Book
The first, foundational book on blockchain technology, from the bestselling author of Wikinomics Don Tapscott and blockchain expert Alex Tapscott, now in paperback with a new preface and chapter explaining recent developments in the world of blockchain, including cryptoassets, ICOs, smart contracts, and more.
“This book has had an enormous impact on the evolution of blockchain in the world.”
—Satya Nadella, CEO, Microsoft Corporation
In this revelatory book, Don and Alex Tapscott bring us a brilliantly researched, highly readable, and essential book about the technology driving the future of the economy.
Blockchain is the ingeniously simple, revolutionary protocol that allows transactions to be simultaneously anonymous and secure by maintaining a tamperproof public ledger of value. Though it’s best known as the technology that drives bitcoin and other digital currencies, it also has the potential to go far beyond currency, to record virtually everything of value to humankind, from birth and death certificates to insurance claims, land titles, and even votes.
As with major paradigm shifts that preceded it, blockchain technology will create winners and losers. This book shines a light on where it can lead us in the next decade and beyond.
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“Privacy is the foundation of free societies.”
DON TAPSCOTT
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“Sort of the ultimate Tamagotchi, the blockchain is a globally distributed nest egg.”
DON TAPSCOTT
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Challenges in adopting blockchain
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.
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These Ideas give a great understanding of why Cryptocurrency/Blockchain need to develop further!
The Cost of Blockchains
The immutable audit trail uncontrolled by any single party is certainly useful, but there are many costs to create such a system. Let’s examine some of the issues.
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Development is stricter and slower
Creating a provably consistent system is not an easy task. A small bug could corrupt the entire database or cause some databases to be different than other ones. Of course, a corrupted or split database no longer has any consistency guarantees. Furthermore, all such systems have to be designed from the outset to be consistent. There is no “move fast and break things” in a blockchain. If you break things, you lose consistency and the blockchain becomes corrupted and worthless.
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