Blockchain

Chapter 7. Conclusion

This book has tried to demonstrate that blockchain technology’s many concepts and features might be broadly extensible to a wide variety of situations. These features apply not just to the immediate context of currency and payments (Blockchain 1.0), or to contracts, property, and all financial markets transactions (Blockchain 2.0), but beyond to segments as diverse as government, health, science, literacy, publishing, economic development, art, and culture (Blockchain 3.0), and possibly even more broadly to enable orders-of-magnitude larger-scale human progress.

Blockchain technology could be quite complementary in a possibility space for the future world that includes both centralized and decentralized models. Like any new technology, the blockchain is an idea that initially disrupts, and over time it could promote the development of a larger ecosystem that includes both the old way and the new innovation. Some historical examples are that the advent of the radio in fact led to increased record sales, and ereaders such as the Kindle have increased book sales. Now, we obtain news from the New York Times, blogs, Twitter, and personalized drone feeds alike. We consume media from both large entertainment companies and YouTube. Thus, over time, blockchain technology could exist in a larger ecosystem with both centralized and decentralized models.

There could be a large collection of both fiat currencies and cryptocurrencies existing side by side. In his book ...