August 8, 2022 Last Updated

Blockchain Revolution: Summary, Chapters And Review of Don & Alex Tapscott’s Book

A blockchain will do to the financial services industry what the internet did to media. It will change everything, and in my view, it is one of the most fascinating developments in business and technology today.

In the book “Blockchain Revolution: How The Technology Behind Bitcoin Is Changing Money, Business, and the World“, the authors Alex Tapscott and Don Tapscott explore how this new technology works, how it’s being used, and what its implications are for society.

The book makes it clear that although there are many uses for blockchain technology today (mostly in cryptocurrency), there are even more exciting possibilities for its use in tomorrow’s world – especially if you’re an entrepreneur looking at new ways to disrupt existing industries!

What Is The Book About

The blockchain is a revolutionary technology that makes it possible to secure information without using a third party. If you want to know what this means for your business, your career, and society at large, then Blockchain Revolution is the book for you.

Written by Don Tapscott and Alex Tapscott, two of the most respected voices in blockchain technology today, Blockchain Revolution is an easy to read guide to understanding how this new technology will impact everything from finance and healthcare to government and education.

The authors begin by briefly explaining the history of blockchain and discussing its benefits. Then they go into detail about how blockchain works and what it can do for businesses, governments, and individuals.

The authors also talk about some of the problems that need to be solved before blockchain can be used in these industries such as finance, healthcare, government and more.

They also highlight some of the companies that are working on solving these problems or have already started using this technology in their business models.

The final chapter discusses the future of blockchain in more detail.

Blockchain Will Do To Finance What The Internet Did To Media

Blockchain (adjacently utilizing the internet) will do to finance what the internet did to media. If we can put assets on a blockchain, we can put just about anything of value on it: money, stocks and bonds; IP rights like music and art; even titles to physical property. The technology allows us to create shared databases in which transactions are recorded publicly but not duplicated.

Blockchain is a distributed ledger technology (DLT). It’s basically a transparent, secure and permanent way of recording transactions that requires no central authority or intermediary like a bank or government agency.

“We believe that blockchain technology could be an important tool for protecting and preserving humanity and the rights of every human being, a means of communicating the truth, distributing prosperity, and—as the network rejects the fraudulent transactions—of rejecting those early cancerous cells from a society that can grow into the unthinkable.”

Don Tapscott & Alex Tapscott

A blockchain network contains thousands of independent computers that verify each transaction before sharing it with everyone else involved in the network by adding it as part of an encrypted block of data for other participants to see—a process known as “hashing”…

And then adding their own updated version of this block onto their copy of the ledger after verifying that all previous entries have been made correctly (an example would be confirming whether or not funds have been transferred from one account into another).

Blockchain Is A Transformative Tech

Blockchain is a new technology that allows digital information to be distributed but not copied. The Bitcoin blockchain made this possible in 2008 by creating a decentralized public ledger of all transactions on its network since its inception, preventing double-spending without requiring any central authority or trusted third party (such as PayPal).

“The financial services industry has already rebranded and privatized blockchain technology, referring to it as distributed ledger technology, in an attempt to reconcile the best of bitcoin—security, speed, and cost—with”

Don Tapscott & Alex Tapscott

The blockchain has other uses though—it can be used for smart contracts, land registry records, art ownership certificates, etc., making it potentially revolutionary for any industry where there are trust issues involving multiple parties (like law) or large amounts of data need to be shared securely and permanently between multiple parties (like healthcare).

Blockchain Will Transform The Way Business Is Doing And How We Live Our Lives

The blockchain was created by Satoshi Nakamoto as part of his idea called Bitcoin. Bitcoin is a digital currency that uses cryptography to control its creation and transactions, rather than relying on central banks or governments. (Source: What Is Bitcoin?)

Nakamoto believed that creating money through mining would be democratic, because anyone could do it with their computer (if they had one).

This meant no one person would have control over all the money in existence, which means no government could create inflation or devaluation by printing more money—the same problem faced by fiat currencies like US dollars today!

“In fact, soon billions of smart things in the physical world will be sensing, responding, communicating, buying their own electricity and sharing important data, doing everything”

Don Tapscott & Alex Tapscott
Blockchain technology is set to revolutionize our lives.

Blockchain technology allows buyers and sellers to bypass traditional central authorities like banks and create a decentralized database that’s secure and trustworthy. Since no one entity controls the blockchain, everyone can trust it.

Blockchain technology has the potential to automate away the center of an organization, which allows workers on the periphery doing menial tasks to be automated.

This gives people more control over their own lives and enables them to start businesses without having to rely on a bank or other centralized institution.

It was created as a solution to problems with trust in financial institutions such as banks, who were not able to verify transactions between parties without using intermediaries like lawyers or escrow agents.

You Cannot Stop This …

Blockchains are most commonly associated with cryptocurrencies such as Bitcoin, but they are much more than just digital money. They have the ability to create new types of organizations that can be used in many different ways by both governments and businesses alike.

The Tapscotts believe that these new kinds of organizations will be “much more efficient than traditional ones because they eliminate bureaucracy and make use of smart contracts that self-execute based on predetermined parameters”

The book introduces us to Ethereum, which is a unique blockchain that specializes in dealing with contractual agreements.

Ethereum’s blocks store small mini-programs, called smart contracts, which are programmed to react to certain transactions in the blockchain.

Smart contracts can be used for anything from tracking your favorite artists’ royalties or creating an escrow system for online shopping to issuing stocks and bonds.

By utilizing specially designed smart contracts, blockchain allows you to choose which data is private and which data is accessible to those you choose.

The blockchain can enforce transparency or privacy according to the requirements.

“Online, we still can’t reliably establish one another’s identities or trust one another to transact and exchange money without validation from a third party like a bank or a government. These same intermediaries collect our data and invade our privacy for commercial gain and national security.”

Don Tapscott & Alex Tapscott

Blockchain platforms may also enable more businesses to charge per use. The blockchain can be used to build similar platforms that are faster, cheaper, and more secure, so that a central authority does not have to control them all, as we currently do with banks acting as intermediaries between buyers and sellers, charging fees for every transaction.

About The Authors

This book was written by Don Tapscott and Alex Tapscott who are experts on the subject of technology. They explain what blockchain is and how it works in easy-to-understand terms that make sense for anyone who has a basic understanding of computers or data storage systems.

Don Tapscott is the CEO of the Blockchain Research Institute and the author of 15 books, including the international bestseller, Blockchain Revolution.

Alex Tapscott is the CEO of NextBlock Global and the co-founder of the Blockchain Research Institute. He is also a frequent contributor to Bloomberg News and his work has appeared in The Wall Street Journal, The Globe & Mail, Forbes, Time Magazine and many others.

The blockchain revolution is happening now at an unprecedented pace. It has already begun disrupting traditional industries such as banking, healthcare, energy supply chains, real estate ownership records management systems and even voting systems.

Final Verdict

The book “Blockchain Revolution” is targeted at those who know nothing about blockchain or cryptocurrency, but are interested in learning more.

It provides an overview of what the technology is and how it works, as well as its potential impact on business, government and society at large.

The authors have included real-world examples throughout to illustrate how blockchain technology can be used to solve problems such as financial inclusion for the poor or environmental degradation caused by pollution from industries like mining.

They also discuss some of the risks associated with using this new technology such as security breaches or identity theft due to lack of regulation at present time.



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