Recently, cryptocurrencies have made major news headlines. Some people have invested in them, while others have watched in confusion, not sure what it all means. Kyle Michaud admirably takes on the task of unraveling the complexities, taking us through the history of Bitcoin’s beginnings before delving into Blockchain’s great potential as a distributed decentralized database to change the current third-party paradigm when it comes to everything from healthcare to banking to car sales. You won’t find a clearer explanation for Blockchain anywhere, nor a more practical guide in terms of how it can concretely be applied to your everyday life.
Kyle Michaud is an entrepreneur, innovator, and the author of Why Blockchain, a compelling guide that breaks down the transformative power of blockchain technology. The book has gained recognition for its clear explanations and practical insights, making it a must-read for anyone curious about how blockchain is shaping industries and our everyday lives.
When he’s not writing or exploring the digital frontier, Kyle runs Carolina Dozer, a thriving excavation and land-clearing business in the rugged mountains of northwestern North Carolina. Known for his ability to tackle both physical and technological challenges, Kyle seamlessly blends hands-on expertise with forward-thinking solutions.
Outside of work, Kyle enjoys life on his farm, spending time with his animals, and tackling creative projects. Whether he’s operating heavy machinery or solving blockchain puzzles, Kyle brings a builder’s mindset to everything he does.
Discover more about Kyle and his work by diving into Why Blockchain—a book designed to inspire and educate readers in the age of digital transformation.
The Blockchain is the underlying technology of the Bitcoin, the encrypted currency. The Blockchain technology is very close to shelve the Bitcoin and be available in the market, to be used commercially for multiple purposes, not only for the Bitcoin. When the Bitcoin was launched, the main problem was to set up a system that were able to attest and validate the transactions, so that when somebody pays a bitcoin, he losses that bitcoin and the other party wins it. The system needed a notary, so they created the Blockchain, a technology that verifies one another actions, the transfers of values and assets, through an extraordinary secure and virtually impenetrable collaborative system, by mass collaboration. Blockchain is like an algorithm encrusted, embedded in the virtual asset by which each time you move that asset, the movement is registered in a block in a global database, where the movements are not validated by a single intermediary, but simultaneously by a huge global network of computers, by consensus. At the beginning of the Bitcoin, several scandals and hacker thefts of Bitcoins occurred. But after years of development, the Blockchain has become an immutable, public, open and transparent value and contract validator. It is becoming like a quasi-perfect and universal notary.
Blockchain is a global spreadsheet, a global ledger open not to a few, but to everybody that records the transactions and movements of anything with value. It is a global and immutable database that everybody can see, but nobody will be able to hack. A database of money, securities, bonds, stocks, titles, properties, property titles of land, scientific discoveries, patents, contracts, or much better, smart contracts or smart bonds. Anything with value and with an owner can be stored, moved, managed and transferred privately and securely, through a system where trust is not validated by a few intermediaries or by any government, but rather by mass collaboration, by consensus, by clever code and cryptography validated simultaneously by thousands and thousands of computers worldwide. The more developed the network of computers working for the system (that are creating the information blocks in the chain), the harder it will be to manipulate it. Currently Blockchain technology is gathering hundreds of computers each week. These computers simultaneously attest the ownership of an asset or a transaction. The validation occurs from its origin. An information-block is added to a chain of information-blocks each time any movement of the asset occurs and is registered in a global ledger. To hack this ledger you need to hack all the computers and all the blocks of the chain from its origin and simultaneously, something that is becoming virtually impossible.
The Tapscotts’ book argues that Blockchain will simplify and substitute most of the plain vanilla financial and banking services: Authenticate identity, reputation and owner of the Value; Attest to Value; Payment and Transfers of Value; Store Value; Lend Value; Exchange Value; Fund and Invest in Value; Insure Value; Account and Audit Value. Even current accounts can be substituted. We will even be able to have our current account in our smart-phones and nobody (neither ourselves) will be able to hack it. Thanks to the Blockchain, we would be able to see what value or money is being moved or transferred, knowing or not knowing who's moving that value, privately (anonymously) or publicly, depending on the requirements of the transaction. However, providing that there is no use of cash, the origin of money will be much easier to trace, so the tax authorities and police will easier prosecute fraud and crime.
The Blockchain system will revolutionize the whole economy. The Tappscot say it will be the most important innovation after the computers and the Internet. The public social networks and public communication channels, often used by all of us without protecting ownership and value, are in fact leaving the value (our information, our virtual I) in hands of the big Internet intermediaries or other middlemen. On the contrary, the Blockchain system, while being public, will enhance trust, because it will protect ownership and privacy. And since privacy is the foundation of free societies and trust is the basis of prosperity, the Blockchain will represent an enormous shift for all the economies, but especially for the underdeveloped.
An absolutely amazing book! At times it seems that the world is going in the wrong direction. You simply need to look at the news about the upcoming election to get the feeling that the world is about to implode! If you are looking for clues that civilization is not at it's end and need a dose of what can be and what most likely will be the future, this book is for you.
What is blockchain? It is the next generation of the internet. You know all the problems that we have with the internet? Privacy issues, plagiarism, copyright, anonymous haters, fraud, identity theft, etc? Well, the blockchain is a platform that is being designed right now and the great minds behind the creation of this platform are looking to solve those specific issues and much much more.
The financial industry is likely going to be the most changed by this technology. Remember bit coins? The technology behind bitcoins is what the blockchain is built on. And... it is being explored and researched by some of the greatest minds in the world. MIT, UofT and other world class universities, governments, influential technology companies, and start ups everywhere. The current financial industry is old and is built with layer after layer of out dated technology. So even though you buy a coffee at Starbucks with your debit card, it takes 6 intermediaries to make the payment go through.
The story in the book about Analie who sends her hard earned dollars back to family in the Philippines is one that you'll remember and will help you see the value in blockchain. Today it takes Analie many steps to send the money: cashes her cheque, goes to a Western Union, transfers her money where her mom will go through similar steps. It takes 7 or so days for this transaction to be completed and there are many fees involved that over time accumulate to thousands of dollars. There is a better way. If the money can be sent digitally through the blockchain, it is secure, cuts out the middleman, takes a few hours total, and allows to be used a digital currency or converted into hard currency.
Money is just one example. There will be impacts to the legal industry, accounting industry, music industry, social media, and much more.
There are active use cases of the blockchain already, but there are many parts of the technology still being decided. Open debates and collaboration are taking place to ensure this technology is inclusive so everyone on the planet will benefit, and will attempt to keep the criminals and dictators from taking control.
If you want a glimpse of a sci fi utopia that just might come true, read this book. It is very well written and a pleasure to read. I listened to the audible version and plan to relisten to parts of it again and again.
I've got 2 hours and 10 minutes remaining on my Audible copy of Blockchain Revolution and here's what I think so far: This book should be required reading / listening for anyone with a future that includes internet based technologies; from infrastructure to implementation, especially for young adults with a lifetime of tech ahead of them. Why? Because what you learn in this book will help you navigate the inevitable future of technology and how the Blockchain will likely impact the world's societies for the better. Also, by understanding the Blockchain, you will give your CV a significant edge as the "Blockchain" buzzword starts ramping up.
On the practical side, Blockchain Revolution will help you with geeky, casual conversation. You'll gain a general understanding of Bitcoin and what it means to "mine Bitcoin". It will fill you in on WHO is investigating and actually using Blockchain technology today (companies like AirBNB, Deloitte, USAA, IBM). The book will boost your comfort level with terminology like cryptocurrencies, permissionless distributed databases, hashing, blockchain transaction methodologies, smart contracts, and much more. You'll also be able to build a solid list of today's big players in the Blockchain world, so you'll know who to follow on Twitter as you're watching this technology unfold.
On the dreamy world of dreams side, after reading Blockchain Revolution, I imagine that IF the potential for global prosperity were being delivered by a magic train, then Blockchain would be the rails. We are about to see, in the next 25 years, the elimination of barriers to entry for any and all business. I can see the Blockchain as the catalyst for an experimental, open source government... not Anarchy but an Open Source Democracy... An Openocracy? Anyway, this book made me think. Now I need YOU to read it so we can ponder the future together! Maybe over coffee... or beers.
Hopefully, the Blockchain will be a tool to help us navigate through the uncharted waters of the impending (yet still theoretical) post-employment era as we approach the theoretical "singularity".
Lastly, on the quality of the audiobook, it is fantastic. It's read by Audie Award Winning Audiobook Narrator Jeff Cummings, so it's really as good as it possibly could be. I sorta wish I had a copy of the physical book as well because some of the referenced names are foreign to my western ears. It took me an embarrassing amount of lunchbreak research to figure out that the person Jeff was talking about was "Dino Mark Angaritis" and not any number of other mishearings I was trying to process.
The most interesting, groundbreaking book I have read in years. This has got to be one of, if not the most, authorititive books out there on the blockchain. It does not focus on technical matters and can be read by a lay person not very familiar with how blockchain technology and cryptography work. Nor is it simply about Bitcoin (blockchains are about much more than Bitcoin). Less about how it works, than about how blockchain technology has the potential to transform the spheres of commerce, finance, management, public administration, politics, government and society in general (not to mention other applications). Must surely be compulsary reading for anyone wishing to explore how to create and exchange value, devise new business models and futureproofing in this age of information and big data. It is not however a book targeted only at e-commerce of financial services people. The authors explain how the blockchain could be a force for good, improving the outcomes for millions of people, particularly those in developing countries who are currently excluded from the financial system and the formal economy. They remind us of course that as with any other technology the blockchain is 'neutral', in that it is not inherently a 'good' or a 'bad' thing; it depends on how people choose to deploy it.
A very thorough overview of this new second-generation blockchain technology that is poised to facilitate a large amount of change in the digital world, and in the non-digital world, over the next five to ten years.
I purchased the book for my Kindle back in May 2016 when it came out, and have found myself bringing it back up on more than one occasion in recent months, just to see again how Tapscott summarized one part or another of how this tech works, and how it is now and will soon influence changes in the world we live in. This stuff seems to be happening.
One example: the authors talked about a rejiggering of the financial ledgers that would happen: last month, in December 2016, the US Federal Reserve Bank published a technical article on "Digital Ledger Technology" by several Fed economists, and they too are now this technology will be important, and that it is expected to have large effects on the "payments, clearing and settlement" systems used amongst banks and financial institutions more generally. Looks like Tapscott's were on this a bit earlier than others.
Expansive yet focused, the authors provide a thorough but easy to digest overview of the blockchain technology and the many ways in which it will likely change the world. From applications that distribute wealth at its inception according to value added to making possible the Internet of things, blockchain represent a paradigm shift in technology (not a new gadget or tool) that will eventually impact every industry. For that reason alone, it is worth understanding. The authors of Blockchain Revolution speak with clarity and a depth of knowledge to present a hopeful vision of how the world and quality of life for all people could be improved because of block chains. Yet they understand the limitations of any technology and present a path forward to avoid potential pitfalls. This book was a great read. Do not find yourself left out of the conversation as the world shifts beneath your feet.
This book is a must read to understand and have ideas on all the promises of the Blockchain Technology and what is already being done today with it. Part 1 focus on explaining the tech behind BlockChain and its design principles, specially related to the new Dapps(Decentralized applications). Part 2 is focused on core industries and ares where the blockchain will create disruptions. I liked a lot chapter 5 on new business models and chapter 6 on the synergies of Blockchain and the Internet of Things. Overall, if blockchain is successful it will change many institutions and industries we take as granted today. Read it if you want to understand and be part of this disruption.
A great insight into the theory of blockchain backed up by rich examples. Really gives an in depth vision of the future when blockchain picks up. For example what could happen to über or Airbnb if there was no need for an intermediary.
The book also gives a good account of what could work against blockchain and how and why blockchain will succeed.
It will be interesting to see what happens to a lot of these organizations that are mentioned in the book.
Highly recommend the book to all who are trying to get both a better understanding or who already have a solid knowledge but want to understand how the future may playout.
As someone who is new to blockchain technology, I found the Blockchain Revolution a seamless and very enjoyable read - providing me with a foundation of knowledge on the technology's applications and potential across multiple industries. Concisely written and easy to understand, it was a great eye opener and a wonderful read. Would highly recommend it to friends and business colleagues alike. - JKM
Clear, Concise, well thought out, flows like a gentle stream with an incredibly deep current, If you have no clue what all the Bitcoin / Blockchain hubbub is all about start here.
If you're a Blockchain code jockey It rings like a clear bell, up to date, factual, and easy reading, When your friends and family ask "What do you do again?" just read from this book, they'll get it.
Exceptionally well written and should be a must read by any early IT adoptive Executive in the business world ... and even if you don't lead by adopting innovative technologies you should still read this book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World because your competition will be implementing Blockchain technology to stay ahead of the curve of business needs ...
A good overview about Blockchain and a must read for business and IT people in financial services industry. In particular if you are interested into the future of their industry. Blockchain is likely to be the biggest innovation in the last 100+ years and could disrupt not only financial services industry.
Before reading this book, open your mind and take in all the possibilities to formulate how you can be the innovator in your industry. This book is becoming the Bible of Blockchain for me. Read, re-read and take lots of notes.
If this new technology is calling you, like it has me, then this book is where you start.
Perhaps the best description out there for the block chain newbie. I find the topic fascinating and have decided, after listening to this book, to pursue a masters in digital currency and block chain and start my second career teaching others to take advantage of a new generation in finance and data, one that will level the playing field world wide for economic advantage.
Excellent, clear & concise. I found this a great discussion about the possibilities of Blockchain. It covers present applications, and then takes the reader beyond the now into the realm of possibility! All the while based in realism, some ideas may flourish, some may fail. I recommend it to anyone wanting a foundational understanding of Blockchain.
Definitely a great read for someone who’s just learning about the applications of blockchain, well researched and not to be meant for the developer looking to start using blockchain for your own projects. Tons of references to projects that are already using blockchain technology in creating a the applications of tomorrow.
A great read for anyone looking to understand what the potential applications of blockchain are, with enough technical explanation to understand how those applications could work, without becoming an unreadable technical manual for laymen. All in all, the best book to introduce yourself to the world of blockchain and cryptocurrencies.
I had only recently read a couple of articles on Blockchain before I heard of the Tapscott's book. This was definitely the read I needed to expand my knowledge on the subject. Most of the articles I had read only talked about the finance industry. The Tapscott's expanded far beyond that. Highly recommend.
One of the best books I've read this year. I had never heard of "blockchain" until I just happened to catch a shared post on Linkedin. It is early yet, but the potential for the technology is truly revolutionary. If only half of this technology's potential is brought to fruition, that alone will be quite amazing. Ignore the one-star reviews as they have no credibility.
The notion of the Blockchain was one that I found complex prior to picking-up this book, the authors did a marvelous job at making relevant and explaining this technology on both a macro and micro level. The world is moving in this direction, no question. The time is now to understand this, there exists a brief window to be ahead of the curve. A very exciting topic!
Encompasses past, present and future. I have read a number of books on the blockchain and bitcoin, not to mention ether, and this is the most wide ranging and comprehensive so far. For concepts, 5 stars, for technological assistance, not its intention at all.
A well written book, filled with examples and futuristic ideas we can all identify with. The book is quite useful and easy to understand. From page one I got hooked to the text and could deeply comprehend what is behind blockchain and its bright future.
Slowly & gently introduces you to what is, to most of us, a very confusing new subject/technology. Potentially HUGE money to be made in Cryptocurrencies. Get educated BEFORE you dismiss this new financial tool out of hand!
Although I don't see all of the applications of the blockchain coming to fruition (As do the authors), it's very interesting to think about how blockchain technology can completely turn industries upside-down. Has a sci-fi feel to it, but the applications mentioned can very well be realities.
A very informative book on Blockchain technology and its potential effect on the global society. A digital 'new world order' that may be more equitable to the powerless. As with any new thing, the potential good, intent can always be hijacked, by the bad elements of society. A great read.
A great book - full of knowledge and thinking. Blockchain is NOVEL....so only education will make you understand what it really is. This book is a great starting point and can be read and understood by anyone.
Clearly familiarizes you how engine behind the bitcoin works, and discerns how shows how this machine could promote trust and exchange to significantly reduce transaction cost and save billions that could be added to economic growth.
A great place to start a journey of understanding Blockchain and its effect throughout numerous industries. The book is very easy to understand, even for someone without previous technical knowledge on the subject.
A great explanation ... and thought provoking discussion of what's coming next ... a how and why it is going to impact pretty much everything we do. A global ledger of everything ... a disruption coming soon!
Great primer on blockchain and its potential. The concepts are explained simply enough for a layperson to understand. If you want to get a sense of the impact that blockchain technology could have on business, government and people, this is a great place to start.