The Technology Genie has Escaped from the Lamp!

The technology that will most likely have the greatest impact in the next few decades has arrived. It is not social media. It is not big data. It is not robotics. It is not even AI. And you'll be surprised to learn that it is the underlying technology of digital currencies like bitcoin. It is called the blockchain.

For Don Tapscott, the blockchain is a "world-changing, trust-building technology that represents nothing less than the second generation of the internet and holds the potential to transform money, business, government, and society.”

This TED Talk is old. Don Tapscott delivered this in August 2016. Currently, it has more than 6.9 million views.

Though the video is just 18:49 minutes, I find it very informative. It’s fascinating how he describes blockchain technology. Earlier in his talk, he calls it “the trust protocol.” Nearing the end of his message, he used another intriguing analogy. This time, he describes it as a “genie” that escapes from the bottle. And it is not just giving an individual three wishes but offering the world five initial powerful changes towards a prosperous future.

See how he concludes his TED Talks by enumerating five ways blockchain technology can transform the world:

• Protecting rights through immutable records

• Creating a true sharing economy

• Ending the remittance rip-off

• Enabling citizens to own and monetize their data (and protect privacy), and

• Ensuring compensation for the creators of value

Source: How the blockchain is changing money and business.

Grace and peace!