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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Blockchain Revolution summary
Don Tapscott
Alex Tapscott
How the Technology Behind Bitcoin Is Changing Money, Business and the World
16 mins
Brief summary
'Blockchain Revolution' by Don Tapscott and Alex Tapscott is a comprehensive guide to blockchain technology, its potential impact, and its applications in various industries, including finance, healthcare, and government. It explores the transformative power of this technology and its role in shaping the future of business and society.
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Blockchain Revolution
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Key idea 1 of 7
The blockchain is a decentralized database technology that is secure and trustworthy.
Let’s say you’re looking to buy a house, but the seller insists that no banks or notaries get involved. You’d probably be pretty skeptical about such a seller’s trustworthiness.
This is why we’ve come to rely on middlemen – intermediaries that ensure the transaction is legitimate, allowing both buyer and seller to rest easy.
Banks have long served this purpose by authenticating transactions and keeping track of property titles to confirm who owns what. More recently, businesses such as Uber and Airbnb have begun filling the role of middleman platforms and now vouch for the reliability of a driver or apartment owner.
However, history shows us that middlemen themselves aren’t always the most trustworthy.
Banks can go bankrupt and lose your money by making bad deals and companies like Uber can sell customer data without getting consent. And with more and more cases of unwarranted surveillance, even governments can seem untrustworthy – and they’re certainly capable of going bankrupt themselves.
So where does the internet fit into all this? Well, until recently, most people would say that the internet lacked the proper security for big transactions involving money or property. But there’s a new technology that might change this conception for good.
It’s called blockchain, and it comes with a protocol that allows buyers and sellers to bypass traditional central authorities like banks.
It does this by making every transaction a transparent process. Everyone using the blockchain has access to, and thus compose the management of, an incorruptible decentralized database.
When a transaction is made, it gets timestamped and added to the database. When it clearly doesn’t corrupt the system and is agreed upon by the majority of all parties involved, it gets legitimized.
With this level of transparency and verification protocol, there’s no opportunity for hackers or thieves to make changes that will go unnoticed. Plus, the system doesn’t allow for changes to old entries.
Since no one entity controls the blockchain, everyone can trust it.
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What is Blockchain Revolution about?
Blockchain Revolution (2016) sheds light on a new technology that may soon change the way we bank and do business. Blockchain is the technology behind the Bitcoin – but it could be so much more. If we utilize it fully, we could do away with costly middlemen and create a transparent financial system free from the endless corruption and dark money that plagues the world.
Blockchain Revolution Review
Blockchain Revolution (2016) explores the future potential of blockchain technology and its impact on various industries. Here's why this book is worth reading:
- It presents a comprehensive overview of blockchain technology, explaining its fundamental concepts and potential applications.
- The authors provide real-life examples and case studies, demonstrating how blockchain can transform industries like finance, healthcare, and government.
- With its forward-thinking insights and analysis of the challenges and implications of blockchain, the book sparks curiosity and prompts critical thinking about the changing world of technology.
Best quote from Blockchain Revolution
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center.
—Don Tapscott and Alex Tapscott
Who should read Blockchain Revolution?
- Students of economics
- Readers interested in an alternative to banks
- Business people curious about online trust
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Blockchain Revolution FAQs
What is the main message of Blockchain Revolution?
The main message of Blockchain Revolution is that blockchain technology has the potential to revolutionize industries across the globe.
How long does it take to read Blockchain Revolution?
The reading time for Blockchain Revolution varies depending on the reader's speed, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Blockchain Revolution a good book? Is it worth reading?
Blockchain Revolution is a must-read book as it provides valuable insights into how blockchain can transform various sectors, making it worth your time.
Who is the author of Blockchain Revolution?
The authors of Blockchain Revolution are Don Tapscott and Alex Tapscott.
What to read after Blockchain Revolution?
If you're wondering what to read next after Blockchain Revolution, here are some recommendations we suggest:
- The Bitcoin Standard by Saifedean Ammous
- Cryptoassets by Chris Burniske and Jack Tatar
- Ethereum by Henning Diedrich
- Read Write Own by Chris Dixon
- Digital Gold by Nathaniel Popper
- The Promise of Bitcoin by Bobby C. Lee
- Life After Google by George Gilder
- Tokens by Rachel O'Dwyer
- Think and Grow Rich by Napoleon Hill
- The 15 Commitments of Conscious Leadership by Jim Dethmer