Blockchain and the Digital Economy: The SocioEconomic Impact of Blockchain Technology (The Economy: Key Ideas),Used

Blockchain and the Digital Economy: The SocioEconomic Impact of Blockchain Technology (The Economy: Key Ideas),Used

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Blockchain technology has the potential to disrupt digital interaction across our economy and society. As the internet has changed our lives, the potential for blockchain and distributed ledger technologies to do the same is considerable. Fred Steinmetz, Lennart Ante and Ingo Fiedler assess this rapidly developing technology and its imminent economic and societal impact.The ideas behind blockchain technology stem from an opensource movement and build on existing technology to facilitate the exchange of value in general and assets in particular via a protocol on top of the internet. Current platformbased business structures face the risk of being replaced by evolving decentralized ecosystems and individuals are set to become empowered by sovereignty over their digital data and footprints.The book begins by explaining the key concepts of blockchain technology and presents an overview of the involved technical and economic elements. These form the basis for a discussion of the socioeconomic implications of this new technology. This is followed by an indepth analysis of significant case studies in the sectors of energy, digital identity, capital markets, logistics and gambling that outline the risks and benefits of the technology. The book strives to be nontechnical and accessible, and to demystify the functionalities of blockchains and their potential for a range of readers in the wider social sciences.

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