Alex Tapscott: The Blockchain Is Eating Wall Street

Author of best-seller “Blockchain Revolution”, Alex Tapscott share in this talk about how the blockchain the technology behind bitcoin is changing money, business, and the world.

Tapscott is the CEO and Founder of Northwest Passage Ventures, a consulting firm focused on early-stage, high growth companies in the Canadian and U.S. Capital markets. He is also co-author, with Don Tapscott, of the new book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.

Tapscott begins his talks by setting the stage. “We are in a crisis of legitimacy, not just in banks but in many of our institutions, including governments. We’re feeling now that globalization, capitalism, even democracy are in retreat while populism, nativism, protectionism are on the rise.”

Tapscott goes on to explain, “The technology likely to have the greatest impact on the world of financial services for the next 20 years has arrived… It’s the technology behind crypto currencies like Bitcoin and it’s called the Blockchain. This technology will transform the industry, but it also represents nothing short of the second generation of the Internet. And what if the internet was [moving] from an Internet of information to an Internet of value?”

Tapscott explains the blockchain and cryptocurrencies then tells about the the changes he foresees happening in the world: the financial industry, human error, fintech, and transparency.

Tapscott ends with this idea, “So to paraphrase the Beatles, all you need is trust. But what is trust? Trust is the expectation that the other party will abide by their commitments, that they will act with integrity. And it’s been very difficult to get people to do that. What if we could program that into the fabric of our economy? What if we had a new protocol, a trust protocol, on top of which we could build any kind of business?”

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx