In the newly released fourth episode of “Tomorrow’s Capital,” Nasdaq’s podcast on the economic future, influential business executive Don Tapscott takes inventory of blockchain technology’s fundamentals and applications across a wide range of industries.
Speaking with Nasdaq reporter Jill Malandrino, Tapscott gives both a basic and highly informative rundown of blockchain technology itself, and he offers some perspective on the complex ecosystem of technological innovations that distributed ledgers enable.
For the novice listener, Tapscott manages to describe the fundamentals of blockchain not with a timeline of events, but by identifying the very problems with all data management that blockchain technology exists to solve. This approach does not leave the audience begging the question of what this groundbreaking technology is supposed to do, but rather whets the appetite and leads the audience to begin to see possibilities themselves before Tapscott begins laying out specific use cases.
The centerpiece of Tapscott’s account is an analysis of what he and many other thinkers and economists refer to as the “fourth industrial revolution,” to fully emphasize the potential for growth that he sees at play here.
(In this context, the first industrial revolution refers to the original development of steam engines and textile factories, the second to the widespread implementation of electrical power systems and the third to the original genesis of powerful, affordable computers in the 1980s that rang the death knell for analog technology everywhere.)
The fourth industrial revolution represents the sheer amount of technological discoveries that have been made possible as a result of the internet, including increased automation, 3D printing and the Internet of Things. As he discusses in the episode, Tapscott considers blockchain technology a breakthrough of equal standing in terms of potential for industry disruption, and he could easily see blockchain technology becoming an everyday centerpiece for a great number of industries.
Tapscott’s brief look into the world of blockchain can serve as a persuasive introductory piece for anyone looking into this entirely new galaxy of investment strategies. His reputation gives real legitimacy to this fledgling technology, and his interest seems genuinely captured in this instance. To learn more about these new possibilities, listen to episode four of “Tomorrow’s Capital” on its podcast feed.
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