Sunday, August 28, 2016

Blockchain -- The Next Internet

When bitcoin gained some notoriety in 2013, I did a little research and then put it away to work on it later.  This summer I decided to dedicate part of my vacation to bringing myself back up to speed on “Blockchain” and “Bitcoin” by reading the book by Don and Alex Tapscott titled “Blockchain Revolution -- How the technology Behind Bitcoin Is Changing Money, Business, and The World”.  

I’m now leaning toward the thought that the blockchain has the potential to impact society in a way that might surpass the birth of the internet.  Core to this impact is the “disintermediation” that it will bring.  The millions of people that intermediate transactions and profit off of the exchange of wealth will largely be removed.  Entire industries may be shoved into upheaval.  What Apple did to the phone industry, music industry, application industry, gaming industry, etc... blockchain has the potential to transform financial industry, real estate industry, securities and stock markets, music industry (again), government voting, corporate governance,  and more.