Book Review: Blockchain Revolution

I recently completed a book and wanted to post a review.  In my intro post I discussed how I am trying to breakaway from sharing content on big aggregation sites so instead of posting on Amazon, I am going to post it here.

What is Blockchain Revolution?

Blockchain Revolution is a book written by Don and Alex Tapscott.  Don Tapscott is the well known author of Wikinomics and The Digital Economy. He is also the CEO of Tapscott Group.  Alex, his son, is CEO and founder of Northwest Passage Ventures.  Both authors are thought leaders in the digital currency space; speaking and advising companies all over the world. 

The book acts as a primer in many ways, for people looking to understand digital currencies and more specifically Blockchain.  It isn't an overly technical book, nor is that the author's goal.  It does a great job of discussing what are emerging issues in the social, geo-political and economic landscapes and how blockchain can potentially address emerging issues and situations.

What was my favorite part(s) of the book?

I really like the book so this is tough question.  For the purpose of this post I will go with Chapter 5 - New Business Models: Making It Rain On The Blockchain and Chapter 10 - Overcoming Showstoppers: Ten Implementation Challenges.

In Chapter 5, the Tapscotts go through existing business models and then provide some insight about how some of these business models are ripe for disruption on the blockchain. I won't go through all of the business models (there are 7), but for example business model number 5, The Platform Builders, go into how companies provide platforms where customers interact with it and potentially become prosumers (consumers that produce).  For example Nike may opt to allow customers to contribute their data and and in return customers would be able to monetize their data through the blockchain.  Another example would be a car sharing service where people can make their car available for others to use.  None of these ideas are very radical at this point.  Nike allows users to share data through their Nike+ platform and we do have ZipCar.  The difference is how these services can operate on the blockchain where identity, trust, insurance, smart contracts and payments may occur without a middleman taking a considerable piece of the pie. 

In general, the book really discusses "the art of the possible".  What is refreshing is that in Chapter 10 the authors do challenge some of their ideas or at least identify some shortcomings of some of their analysis.  With blockchain still being a new technology, many companies and start-ups are still evaluating how they can leverage the technology.  As a result, it is important to understand what pitfalls to watch out for.

What was my least favorite part(s) of the book?

Just to keep this review objective, the chapter I didn't like as much as others Chapter 8 - Rebuilding Government and Democracy. Not to say it was a bad chapter or anything, I don't consider myself to be overly interested in politics.  While I fully appreciate blockchain can make a lot of improvements in this space when it comes to voting, citizen engagement and justice perhaps I am just sick of hearing about politics with the Alberta and Canadian Federal elections last year and the never ending American election this year. I am perhaps becoming "full" with the amount of political coverage going on these days.

Who is the book for?

People who are interested in learning about blockchain from a business perspective.  If you are interested in digital transformation and are wondering how blockchain may play a part in that transformation, this will set you down the right path.

Who is the book NOT for?

If you are looking for deep technical details on Bitcoin or how to implement an Ethereum blockchain, then this is not for you.

Would I recommend the book?

Absolutely!  It is a very easy and interesting read.  It was difficult to put down. 

Still not sure?

If you are still unsure whether or not to pick up the book then watch the authors in action in the following YouTube clips:

Alex Tapscott presenting at Google

Don Tapscott presenting at DevCon1