The co-author of Blockchain Revolution, Don Tapscott, took the stage at a TED Talk to explain the blockchain and how it will change the way businesses are run.
The speech was filmed in June at a TED Summit in Banff Alberta. But the website released the video this week. Tapscott highlights the important aspects from his book, which was co-written by his son, Alex Tapscott.
Tapscott explains at the top of the video, “I believe that this is now the next generation of the internet, and that it holds vast promise for every business, every society and for all of you, individually.”
The blockchain will simplify everything we know now. We will no longer double spend or send copies of a copy. With Ethereum’s blockchain, we can build smart contracts that will help enforce management, performances, and payments.
“And today, on the Ethereum blockchain, there are projects underway to do everything from create a new replacement for the stock market to create a new model of democracy, where politicians are accountable to citizens,” Tapscott adds.
One of the more popular smart contracts featured was the one conceived by Grammy-winning singer-songwriter, Imogen Heap. The artist plans to put music on a “blockchain ecosystem” she calls ‘Mycelia’. The platform protects an artist’s work by placing in a smart contract. The contract protects the intellectual property rights, which then allows the musician and the song to become its own business.
For a deeper perspective on this, watch the full video below: