Blockchain Revolution audiobook cover - How the Technology Behind Bitcoin Is Changing Money, Business and the World

Blockchain Revolution

How the Technology Behind Bitcoin Is Changing Money, Business and the World

Don Tapscott and Alex Tapscott

★ 4.4 / 5(529 ratings)
Start ListeningDownload App
Categories:
EconomicsTechnology & the Future

If You're Curious About These Questions...

You should listen to this audiobook

Listen to Blockchain Revolution — Free Audiobook

Loading player...

Key Takeaways from Blockchain Revolution

Learning Tools

Reinforce what you learned from Blockchain Revolution

Mind Map

Blockchain Revolution
Core Mechanics+
Financial Transformation+
Smart Contracts & Assets+
Privacy and Transparency+
New Business Models+
Challenges & Solutions+

Quiz — Test Your Understanding

Question 1 of 8
According to the text, what is the primary reason blockchain technology can bypass traditional middlemen like banks and notaries?
  • A. It relies on government-backed security protocols to legally guarantee trust between strangers.
  • B. It utilizes an incorruptible, decentralized database that makes every transaction transparent and verified by consensus.
  • C. It is managed by a central authority of highly vetted miners who manually approve each transaction.
  • D. It processes transactions exclusively in physical assets, eliminating the need for digital verification.
Question 2 of 8
How does the 'proof-of-work' algorithm protect the blockchain from being tampered with?
  • A. It requires miners to solve complex mathematical puzzles, making the computing power needed to alter previous blocks too costly and practically impossible.
  • B. It permanently locks the entire database every time a transaction is made so no new blocks can ever be added or changed.
  • C. It requires a government regulatory agency to manually review and stamp each block before it is securely linked.
  • D. It encrypts the transaction history so completely that even the miners cannot locate the previous blocks to alter them.
Question 3 of 8
Why is blockchain technology considered more financially inclusive for the world's poorest populations compared to traditional banking?
  • A. It mandates that users maintain a minimum balance, which encourages long-term saving habits.
  • B. It provides physical, decentralized bank branches in remote locations where traditional banks refuse to operate.
  • C. It allows for the profitable handling of micro-payments (under 20 cents) and provides many banking services at no cost.
  • D. It automatically issues a universal basic income in Bitcoin to anyone with an internet connection.
Question 4 of 8
What is a 'smart contract' as used in the Ethereum blockchain?
  • A. A legally binding paper document that is scanned, encrypted, and permanently stored on the blockchain.
  • B. A mini-program stored on the blockchain that automatically enforces and executes contractual agreements when specific transactions occur.
  • C. An algorithm used exclusively to calculate the fluctuating exchange rate between Bitcoin and fiat currencies.
  • D. A privacy protocol that allows users to hide their identities and financial data from government regulators.
Question 5 of 8
How can blockchain technology provide both privacy for individuals and transparency for public organizations?
  • A. By giving the government master keys to all private accounts while keeping public organization accounts completely locked.
  • B. By using cryptographic keys that allow individuals to frequently change their signatures, while organizations can use a single identifiable signature to track spending.
  • C. By storing individual data on a separate, offline database while public organizational data is kept on the online blockchain.
  • D. By requiring individuals to pay a premium fee for privacy, whereas organizations are mandated to use the free, transparent version.
Question 6 of 8
According to the authors, why are companies like Uber and Airbnb NOT part of a true 'sharing economy'?
  • A. They charge too much for their services compared to traditional taxis and hotels.
  • B. They rely on outdated mainframe computers from the 1970s rather than modern decentralized internet protocols.
  • C. They do not actually share resources, but rather aggregate the resources of others to reap profits and claim ownership of customer data.
  • D. They pay their independent contractors using traditional fiat currency instead of utilizing cryptocurrency.
Question 7 of 8
What counterargument does the text provide to address the concern about the massive amount of energy required to maintain blockchains?
  • A. Blockchain energy usage is entirely subsidized by renewable energy companies looking to test new grids.
  • B. The current traditional financial system also has gigantic costs, including the maintenance of bank skyscrapers, underground vaults, and armored trucks.
  • C. The energy used by miners is recycled back into the power grid, resulting in a net-zero energy footprint for cryptocurrencies.
  • D. Future updates to the blockchain will completely eliminate the need for computers, relying on manual ledgers instead.
Question 8 of 8
Which specific sector is mentioned in the text as having an 'army of employees' whose jobs could be largely automated by blockchain's shared financial ledger?
  • A. The manufacturing sector
  • B. The legal sector
  • C. The accounting sector
  • D. The transportation sector

Blockchain Revolution — Full Chapter Overview

Blockchain Revolution Summary & Overview

Blockchain Revolution (2016) sheds light on a new technology that may soon change the way we bank and do business. Blockchain is the technology behind the Bitcoin – but it could be so much more. If we utilize it fully, we could do away with costly middlemen and create a transparent financial system free from the endless corruption and dark money that plagues the world.

Who Should Listen to Blockchain Revolution?

  • Students of economics
  • Readers interested in an alternative to banks
  • Business people curious about online trust

About the Author: Don Tapscott and Alex Tapscott

Don Tapscott is a world-renowned expert on innovation, media and economics, and the author of books such as Wikinomics and The Digital Economy.

Alex Tapscott, Don’s son, is a former bank executive. Together they embarked on a two-year research project, which resulted in Blockchain Revolution.

🎧
Listen in the AppOffline playback & background play
Get App