Summary of Why Blockchain Isn’t a Revolution

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Technological innovations often lead to public confusion and misconceptions about their impact and potential. This is all the more true for innovations as complex as the blockchain. Wharton professor Kevin Werbach separates the concepts cryptocurrencies, blockchain and cryptoassets and explains their individual purpose, function, potential application and long-term significance.

In this summary, you will learn

  • Why cryptocurrency, blockchain and cryptoassets aren’t the same thing; and
  • What impact they could have on the economy and society. 
 

About the Author

Kevin Werbach teaches legal studies and business ethics at The Wharton School, University of Pennsylvania.

 

Summary

People often don’t differentiate the terms cryptocurrency, blockchain and cryptoassets. Yet although they’re based on the same idea and technology, they differ in their purpose, the way people use them and their disruptive potential. Some blockchain-related technologies will succeed while others will fail. Some are potential game changers, while others will only bring about incremental change. Distinguishing the the three main concepts that make up the technology is important: 


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