A book review of The Business Blockchain
There’s nothing short of a revolution happening in world of business and computing, according to author William Mougayer.
“If the blockchain has not shocked you yet,” he writes in his book, The Business Blockchain, “I guarantee it will soon.”
His belief is that blockchain technology is the biggest technological breakthrough since the Internet – an instrument of social and political change with the potential of disrupting everything from commerce to financial services to the exchange of ideas and information.
Blockchain technology of course is best known as the underpinning of cryptocurrencies such as Bitcoin. Employing a peer-to-peer (P2P) exchange of data, a blockchain authenticates and permanently records every transaction on a distributed public ledger. It can only be sequentially updated, thereby ensuring that every single exchange of data can be continually reconciled, and cannot be erased. It is incorruptible.
The essence of the blockchain lies in its P2P makeup – no intermediary is needed to perform a transaction. It is decentralized; hosted by potentially millions of computers simultaneously, there is no centralized database. Using an alternative infrastructure that’s not controlled by one single entity and has no single point of failure, opens up a world of possibilities for how payments, data storage, and asset tracking can be performed.
Not to mention the costs associated with them. With no middleman – banks, brokers, or agents, for example – there are minimal costs required to exchange data – pennies per transaction, in fact. Blockchains therefore have the potential to explode and utterly transform traditional value chains, and, at the same time, redefine the roles and responsibilities of key stakeholders in a transaction.
Explosive. Paradigm-shifting. Disruptive. Shocking. Awe-inspiring. Call it what you will, the blockchain is here to challenge traditions, change expectations and chart new courses for businesses, institutions, and individuals alike. The Business Blockchain provides a solid roadmap to what to expect, how to act, where to take this thrilling new technology next.
Read more about The Business Blockchain at www.thebusinessblockchain.com .