My friend William Mougayer wrote a book called The Business Blockchain. It’s a great book for anyone looking to understand what the whole Bitcoin thing is about. I have blogged about Bitcoin in the past. It’s highly interesting to me for a variety of reasons.
I met William a few years ago, we are co-invested in one company. It’s called Route This, and it’s based up in Canada.
Sometimes, I have a hard time articulating what is inside of my head and gut. I just know it when I see it. The great thing that William did was clearly show the principles of how Bitcoin/Blockchain works with the internet-and then gives you a foundational way to think about it.
Detractors of the book might be looking for easy answers. There are no easy answers when you are working with new technology and charting a new path. The technology is highly disruptive. It’s as disruptive as the world wide web. Remember, the web was built on top of the internet. Initially, the web was seen as a novelty. Now, we are starting to recognize the full power of it-and the vulnerabilities where it breaks.
I have lived in a bitcoin/blockchain like ecosystem. The trading floor was extremely similar. We did have a central clearing mechanism. However, trust was based on reputation. Trust was distributed through out the membership on the floor. Break the trust, you were out of business.
Bitcoin’s true power is creating a way for a network to distribute trust. It also solves for the checks and balances that come with distributing it. Instead of warehousing those checks and balances inside a silo, like a bank, or a company, or a government agency, it’s with all of us.
There is so much more that could be written about Bitcoin and William’s book. I would highly encourage you to pick it up-especially if you think Bitcoin will never work.
I can think of thousands of ways where Bitcoin/Blockchain would be awesome and make our lives better. They just haven’t been built yet. But they will be someday.