How the blockchain is changing money and business | Don Tapscott

What is the blockchain? If you don’t know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society.

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The promise of Bitcoin has been overshadowed by its underlying technology, the blockchain. There is great interest from traditional financial firms, which, saddled with decades-old payment infrastructures, are eager to adapt to the digital realities and improve the efficiency, speed and transparency of transactions. Efforts are underway at the national and international levels to study and monitor the blockchain, and a consortium of large international banks is collaborating on how to bring Bitcoin’s technology to bear in the financial marketplace. How can this technology deliver for the financial services industry? Can we expect to see widespread use of these new systems in the near future and, if so, how will they change finance? Are we likely to see movement toward private rather than public blockchains, and how will this affect transparency and security?

Marc Hochstein, Editor-in-Chief, American Banker

Brian Forde, Director, Digital Currency, MIT Media Lab
Jalak Jobanputra, Founding Partner, FuturePerfect Ventures
Leanne Kemp, Founder and CEO, Everledger
Margaret Liu, Senior Vice President and Deputy General Counsel, Conference of State Bank Supervisors
Steve Wager, Executive Vice President, Operations and Development, itBit
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19 thoughts on “How the blockchain is changing money and business | Don Tapscott”

  1. I'm a developer who knows most things about bitcoin and online data but I still don't understand the bit about the black box of privacy that 'sweeps up' your data. If some decentralised open system remembers everything you do without that data being shared, how do monetise that without giving the data away? Do you sell it to companies? I'll sell you my personal stats so you can try and sell me stuff? I don't get that bit.

  2. “If anyone worships the beast and his image and
    receives his mark on the forehead or on the hand, he, too, will drink of
    the wine of God's fury, which has been poured full strength into the cup
    of his wrath.” Revelation 14:9,10

  3. Great talk, love to hear so many advances in technology around block-chain. Mr. Tapscott thank you for leading and teaching us how block-chain works; its lovely to hear both yourself and Alex talk so passionately about this revolutionary way forward.

  4. I'm curious where you found your figures for title disputes. 70% of people who own land have ambiguous title – I had no idea it was this bad. Can you please point out your source on this? Thanks!

  5. Abra is on Google Playstore. USA and Philippines only. Not Australia or other nations, yet. Bitbit and similar products exist, but seemingly also immature.

  6. BS! i don't want anyone to know where my vote went. on music blockchain is just another copy protection. Bitcoin did not democratize anything, it just created new big players. bitcoin exchanges have been hacked. There have been scams. transactions are NOT instant. it takes a lot of energy to compute the blocks – that is not ecological. if it's so transparent: where the Mt.GOX bitcoins? Blockchain is not the new Messiah and the answer to everything. It's just a technology that will find it's uses. and it's most recent buzzword.

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