Blockchain technology has the potential to disrupt digital interaction
in our economy and society. The technology's rapid and dynamic technical
development is driven by startups and incumbents alike, creating a
myriad of applications across economic and societal domains. However,
the implications of this potential new technological paradigm have not
yet reached wider public debate, nor have economic and societal
implications been adequately explored.
Distributed ledger technologies and blockchains stem from an ideological
open-source movement and facilitate the exchange of assets via a
complementary technical layer on top of the internet. Current
platform-based business structures like Facebook, Uber, Airbnb or Amazon
could be replaced by evolving decentralized ecosystems. At the same
time, community-owned neutral networks could facilitate a re-empowerment
of individuals including but not limited to the sovereignty over one's
data. It is likely that blockchain technology will eventually affect
everyone in our society.
In this book the key concepts of blockchain technology and an overview
of the machinations of different blockchain ecosystems are presented.
The socio-economic impact of this new technology is discussed including
its impact on sectors such as energy, data, capital markets, logistics,
and gambling. Challenges of adoption and roll out will be discussed with
a specific focus on scalability and regulation. Non-technical and
accessible, the book seeks to demystify the functionalities of
blockchains, their potential as well as their likely socio-economic
impacts.
