I read this book only because a friend gifted it to me. However, it was more or less a waste of time. First, the book is about business, which I am not very interested in. Second, the essays are largely boosterism about a hitherto-unproven technology. They make very general hand-wavy claims like “blockchain technology could disrupt finance, social media, and e-commerce” without seriously engaging objections. Third and last, they aren’t sustained inquiries into a particular issue or puzzle but a canvas of commentary on disparate topics. Even though I learnt a bit about the blockchain, that was outweighed by the poor writing. Overall, this book is a grab bag of executive bally-hoo.
The only redeeming thing was this first paragraph by Marc Blinder: “Blockchain has the power to change our world for the better in so many ways. It can provide unbanked people with digital wallets, prevent fraud, and replace outdated systems with more efficient ones. But we still need this new and improved world to be one that we want to live in. The largest cryptocurrencies — bitcoin, bitcoin cash, and Ethereum — require vast amounts of energy consumption to function. In 2017, blockchain used more power than 159 individual nations including Uruguay, Nigeria, and Ireland. Unsurprisingly, this is creating a huge environmental problem that poses a threat to the Paris Agreement.”
The writing here is excellent. The transition from the promise (X+) to the perils (X-) of bitcoin is so smooth