When Don and Alex Tapscott began writing “Blockchain Revolution”, not a single bank was investing in the revolutionary technology. Now virtually every company in the financial services industry is investing heavily as they realize this new technology is the second generation of the internet - the “internet of value”. In this exciting episode of AQ’s Blog & Grill, we are honored to have Don and Alex on to discuss their new book and the implications and opportunities in blockchains.
Currently, when sending assets, we rely on intermediaries like banks to ensure trust, verify parties and perform the transaction logic. “These intermediaries do an okay job”, Alex states, “but with some pretty significant limitations.” Alex walks us through the limitations these intermediaries face and how blockchain technology fixes these problems.
“Blockchain Revolution” delineates several new business models that can be adopted by any company, and Don and Alex describe one example that found success with a blockchain. They share their thoughts on how blockchains will change the definition of work and the job market, and how companies need to re-architect their businesses as opposed to adjusting their strategies. Don and Alex provide examples of ways entrepreneurs and start-ups can and are using blockchains to disrupt and revolutionize other industries in an “explosion of innovation.” We finish by discussing how we all, entrepreneurs, government , business leaders etc., need to work hard to achieve this future and exploit the blockchain potential. “Technology itself doesn’t create prosperity,” Don states, calling on all to lead this revolution in a positive way.
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About Our Guests
Don Tapscott is one of the world’s leading authorities on innovation. He has authored and co-authored over 15 best-selling books including “The Digital Economy”, “Wikinomics” and now, “Blockchain Revolution”. Don is a highly awarded intellectual and is listed as the 4th most influential management speaker alive by Thinkers50. He is an adjunct Professor of Management at the Rotman School of Management at the University of Toronto and the inaugural Fellow at the Martin Prosperity Institute. In 2015, Don was made a Member of the Order of Canada.
Alex Tapscott is the CEO and Founder of Northwest Passage Ventures, an advisory firm building industry-leading blockchain businesses. Alex became the youngest-ever Vice President for Canaccord Genuity at age 25, founding the firm’s blockchain practice in 2014. Alex is the co-author of “Blockchain Revolution” along with his father, Don Tapscott. He is also on the faculty of the Global Solutions Network Program conducted by the Martin Prosperity Institute, Rotman School of Management at the University of Toronto.