In the book, the features and structures of proverbial cryptocurrencies such as Bitcoin and Ethereum are examined, and it is stated that in fact the cryptocurrencies are a far cry from each other and for what purpose these currencies can be used for.
One of the most important issues covered in the book is how Blockchain technology will affect and shape states and democracy.
In the relevant section, briefly, the potential of Blockchain technology to greatly affect the governments and today’s democracy is mentioned and the information is given about the possible consequences of this effect.
“Blockchain Revolution: How the Technology Behind BITCOIN and Other CRYPTOCURRENCIES Is Changing the World” written by Don Tapscott and Alex Tapscott, explains in detail why Blockchain structure is a revolution, how this structure will change the internet, and therefore the world. In the book, the authors do not enter into the technical details of the Blockchain structure, but note that the Blockchain has changed the internet significantly by ensuring that the real values in life are transferred from one side to another. Such that, through Blockchain, the transfer of money, objects, real estate which contains real value can be made over the internet, and the it is emphasized in the book that, this situation is a great revolution in human life.
In the book, the features and structures of proverbial cryptocurrencies such as Bitcoin and Ethereum are examined, and it is stated that in fact the cryptocurrencies are a far cry from each other and for what purpose these currencies can be used for. For example, while Bitcoin is essentially used as a currency, it is explained that Ethereum is actually an operating system, contracts called “smart contracts” can be created on this system, and the system uses Ether, its own cryptocurrency, in applications that will be created on this system. It is stated that the applications mentioned here are called “distributed applications” and smart contracts are at the center of these applications. To describe the Ethereum concept, the authors used the following description: “If Ethereum is the city grid, and the DApp is the car, then ether is the fuel, or “gas” in crypto parlance”. As this description suggests, there are cryptocurrencies on a particular platform that are necessary for the applications to work on that platform and belonging to the relevant platform. The authors show Blockchain as a structure that enables the creation of numerous Ethereum-like platforms that can create many applications that are suitable for use among people.
The book also touches on how lawyers can be affected in the changing world with the Blockchain revolution and what can be expected from lawyers in the coming period. It has been shown in the book that the preparation of smart contracts is much more complicated than the preparation of the contracts we know, and the reasons for this are the absence of long-standing experience in terms of smart contracts and the absence of widely used legal drafts. In this context, attention was drawn to the view that there are quite a few people in the world who are already competent to prepare smart contracts, and that in the future, companies will hire lawyers who have a background in computer science and software engineers who have a background in law.
In the book, it was pointed out that it is important to master the Blockchain in question, in order to succeed in the second age of the internet, and it is mentioned that a country which wants to succeed in this age must meet seven conditions. With this feature of its, Blockchain Revolution also contains a guide for countries to succeed in the new internet age. Details of the conditions in question are described under the headings of (i) Incubators and Entrepreneurship, (ii) Corporate Leadership, (iii) Educational Institutions, (iv) Investment Climate, (v) Government Support, (vi) Regulatory Environment and (vii) Communities of Talent. In addition, under these conditions, it is stated that ten countries are already leading the Blockchain revolution, and they have been elaborated in which aspects these countries have directed the revolution. The authors have examined the United States, Australia, the United Kingdom, the United Arab Emirates, China, Estonia, Sweden, Switzerland, Canada and Singapore in this context.
Blockchain Revolution has been divided into eleven sections, and the world of Blockchain has been evaluated by the authors in many different aspects. In the second chapter, seven principles that shape the Blockchain economy, which is called the new age of the digital economy, are mentioned. These principles are examined under the headings of (i) Networked Integrity, (ii) Distributed Power, (iii) Value as Incentive, (iv) Security, (v) Privacy, (vi) Rights Preserved and (vii) Inclusion. Moreover, what each principle is, the problem to be solved about the principle, the progress made in this context and the results of the principle for Blockchain economy are examined. The authors stated that the seven principles in question serve as a guide in the formation of highly efficient and innovative companies, organizations and institutions, and explained the prospective effect of the relevant principles on our life as follows: “If we design for integrity, power, value, privacy, security, right, and inclusion, then we will be redesigning our economy and social institutions to be worthy of trust”. In this context, it is necessary to say that the second part of the book is a very informative resource for what are the principles that should be applied within the scope of designing the Blockchain economy and how these principles can affect our lives.
One of the most important issues covered in the book is how Blockchain technology will affect and shape states and democracy. Within the scope of this issue, which was addressed in the eighth part of the Blockchain Revolution, first of all, the problems regarding inefficiency and information sharing regarding the services provided by the government are mentioned, and it is stated that while Blockchain will increase the efficiency in the services provided by the government, it will also ensure the integrity and transparency of the government. The authors stated that Blockchain would make it possible for individuals to provide services, which are normally government-provided services, by themselves without any government action, which would prevent corruption in the government. As an example, it was stated that Blockchain would enable a citizen to renew his / her permission for obtaining an official document that the government gave, and that the individual would not have to make a separate request from the government to renew this permit. It is also stated in the relevant section that keeping personal data in government databases can be avoided since Blockchain allows people to store their own data privately and to share them where appropriate. On the other hand, it is stated that it will provide a much more efficient and reliable structure regarding public data, and public data created with Blockchain technology will provide the data accuracy. It is remarked in the relevant section of the book that the internet does not affect democracy in a right way and there are three main problems that must be overcome through Blockchain. These main problems are explored in detail under the headings of (i) Fragmenting Public Discourse, (ii) Scaling Ignorance on the World Wide Web and (iii) Complicating Policy and Implementation. The “voting”, which constitutes the most important element in terms of ensuring democracy, has been evaluated separately within the scope of Blockchain and statements have been made on how to vote by using Blockchain technology. In the relevant section, briefly, the potential of Blockchain technology to greatly affect the governments and today’s democracy is mentioned and the information is given about the possible consequences of this effect.
Another section in the book that we think is important to be examined is the tenth chapter, where the difficulties in the implementation of Blockchain and how to overcome them are covered. In this section, the authors focus on ten key challenges, which are: (i) the prime time for applying this technology is yet to come, (ii) the energy consumed in the use of technology is not sustainable, (iii) government intervention, (iv) the intervention of powerful incumbents, (v) inadequacy in incentives, (vi) Blockchain will cease to exist in many jobs, (vii) governing the protocols (viii) impact of distributed autonomous agents, (ix) privacy and (x) criminals’ use of technology. In the related chapter, although it is mentioned how these difficulties may affect Blockchain, information on how to overcome the related difficulty is also provided. Even though it has been stated that it is possible to overcome these difficulties, it has been remarked that Blockchain may fall into the trap that the Internet has fallen into, and the authors commented on the possible dangers that await Blockchain: “It may be resistant to centralization and control; but if the economic and political rewards are great enough, powerful forces will try to capture it”. We believe that this comment summarizes the main concern about the future of Blockchain quite remarkably. In the light of their explanations regarding the dangers and difficulties in question, the authors specified that Blockchain will take shape as a result of our actions.
My main view about the Blockchain Revolution is that this book is a triumphant work that sheds light on the future and presents the nature of Blockchain, which offers many and great promises to humanity, without going into technical details. What makes this book so successful in my eyes is that it has been examined by showing illustrative examples not only of what Blockchain is, but of what can be realized with Blockchain, how economy, states, democracy, in short, our entire life can change. On the other hand, the fact that the detailed information is given on the features that the technology in question should have for the utilization by all humanity in the best manner and on how the challenges that must be overcome can be overcome in this context have made me believe that the authors of the book have a good command of the technology in question. Although I had an interest in Blockchain technology before reading this book and did some research on the subject, when I read the Blockchain Revolution, I actually realized how little I knew about the technology in question, and had the opportunity to look on this new technology a little more and its possible effects on the world from a bigger perspective. I am of the opinion that Blockchain Revolution will be a very important resource for readers who want to have more detailed information about Blockchain technology, to be more ready to enter the new world order created by this revolution and to make the most of the opportunities that this technology will bring. At the same time, we would like to state that, although it deals with the topics in detail, the fluent expression is dominant in all sections of the book, hence it will not be annoying for any reader who has been interested in the Blockchain even a little.
