Blockchain Mythbusters: Can Bitcoin Live Up to the Glory of Blockchain Technology?

In the following TED talk, the co-author of the blockchain innovation book "How the technology behind bitcoin will change money, business, and the world" said that to maximize the potential of blockchain we need transparency, not hype.

Don Tapscott, who wrote the book Blockchain and How It Will Change the World with his son Alex, believes that some of the confusion surrounding blockchain technology needs to be explained.

He told CoinTelegraph:

“It reminds me of the confusion people had about the Internet 25 years ago. No one was talking about it at the time, let alone clear classifications, frameworks, and powerful use cases and tools. Then I spent a year figuring out the Internet, and many good concepts came from us - digital economy, digital divide, network age, business network, expanding enterprises, etc. I hope that my approach this time will also help people understand blockchain.”

Blockchain Mythbusters

Alex Tapscott added that transparency is necessary because there are so many myths about blockchain technology that need to be dispelled.

He stated:

“For example – people believe that blockchain will only impact financial services, or that governments are hostile to it, or that cryptocurrencies like Bitcoin are often used for crime. It turns out that these notions are completely false, and the opposite is true. People are limited by these misconceptions and it’s hard to see the power of blockchain technology.”

The father and son said they believe that blockchain represents the value of the second generation of the Internet, which can make economic trade and old human activities better. This is very important because today's society is transitioning from Internet information to Internet value, and it has a broad prospect.

TED Talks on Blockchain

https://www.cointelegraph.com/news/blockchain-mythbusters-on-why-it-needs-more-clarity-not-publicity
Don Tapscott said that this nearly 18-minute TED speech took him and Alex several years to prepare, and now the video has been viewed by more than 200,000 people in less than a week.

This number of views indicates that there are a significant number of people outside the industry who have a good understanding of what this technology means for their work lives. This information has begun to generate useful discussion and action among the audience, including business executives, government leaders and the general public.

Interest in blockchain spreads like a spark

Don Tapscott told CoinTelegraph that the development of blockchain has changed dramatically in 2016 alone. Last year, only about 10% of the audience said they had heard of the term blockchain, but now most of the audience said they knew about blockchain.

“That’s progress,” he said. “When you think about the first generation of the internet spreading, it was everywhere, and today’s blockchain is just the beginning.”

Alex Tapscott excitedly added that the topic of blockchain is spreading around the world like a spark, from banks to media, governments, civil society, and other institutions in society.

Can Bitcoin live up to the glory of blockchain technology?

Fact-based and educational blockchain information will definitely be beneficial to the development of blockchain.

Alex Tapscott concludes:

“Companies like Blockstream, Paycase and others are leveraging the Bitcoin network and the underlying blockchain technology. If you mean that the hype around blockchain will affect the value of the token (Bitcoin), that may happen, but I wouldn’t exaggerate the impact.”