Summary of How the Blockchain Is Changing Money and Business

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Blockchain technology has amassed enormous buzz and promises to revolutionize society. Digital strategist Don Tapscott gives an accessible overview of how the technology works before explaining just how it will democratize finance and break down barriers that impede social mobility. getAbstract recommends Tapscott’s pithy analysis to anyone interested in the social implications of this burgeoning technology.

About the Speaker

Digital strategist Dan Tapscott is the author of Wikinomics and Blockchain Revolution.

 

Summary

The “Internet of information” democratized access to knowledge by enabling people to share data quickly and easily with one another. However, when you share a document via the web, you send a copy and retain the original. This system isn’t appropriate for sharing assets, alas; if a friend sends you $100, it’s important that he or she doesn’t hang on to a duplicate of the money. Right now, people solve this “double-spend” problem by transacting through intermediaries, like banks, credit card companies and governments, which share several weaknesses: They are centralized, vulnerable to hackers, slow, elitist and expensive.

Happily, the “Internet...


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