On October 24, the Political Bureau of the CPC Central Committee held the 18th group study on the status quo and trends of the blockchain technology development. During the group learning, General Secretary Xi Jinping highlighted that by making the blockchain the core of independent innovation of core technologies, we work to identify our main task and scale up investment in advancing a number of key core technologies, and accelerating the development of the blockchain technology and industrial innovation. 

Definitions for "blockchain" are varied online: new decentralized database and trust machine, to name a few.  The concept, use, current situation in China, and future development of blockchain are all disclosed in the following book.

Blockchain Revolution 

How the technology behind Bitcoin is changing money, business, and the world 

Brief introduction 

The book is based on cutting-edge research projects with an investment of over RMB26 million and more than 100 dialogues with leading figures from the political, academic and business communities in many countries; and it forecasts the far-reaching impact of blockchain on banking, securities, insurance, accounting, taxation, legal services, cultural and creative industries, power industry, manufacturing industry, and so forth. 

As another masterpiece of the "father of digital economy" after the best seller, Wikinomics, this book has won great acclaim from leaders in political, academic and business circles in many countries. It provides a panoramic view of how blockchain, the cutting-edge technology of the Internet, will transform the Internet, banking, securities, insurance, accounting, taxation, legal services, cultural and creative industries, logistics, medicine and health, power industry, manufacturing industry, etc.; with a forward looking vision, it reveals what this technology is and how we can make good use of it. 

About the author 

Don Tapscott, a Canadian, is a world-famous new economist, business strategist and international futurist, known as the "father of digital economy". Now, he serves as an adjunct professor at the Rotman School of Management at the University of Toronto, Canada, an honorary president of Trent University and a special adviser to the World Economic Forum and other institutions. Meanwhile, he is also a popular business speaker, whose audience included Bill Clinton, former president of the United States, and Eric Schmidt, chairman of Google Inc., and his speeches at TED has been viewed for nearly 900,000 times. Besides, his works are widely praised by eminent personalities in the global political, academic and business communities. For example, Zhang Ruimin, chairman of the board of directors of Haier Group, and Pan Shiyi, chairman of SOHO China, have recommended their employees to read his works. 

Alex Tapscott, a Canadian, is a chartered financial analyst, venture capitalist, and researcher at the Martin Prosperity Institute at the Rotman School of Management at the University of Toronto, Canada. He graduated with a master's degree from the Amherst College, one of the top three liberal arts schools in the United States. Noted for a successful venture capitalist, he is also an active advocate who emphasizes the disruptive role of new technologies. In 2014 he published a white paper, Bitcoin Governance Network. 

Contents 

Recommendation Preface I Blockchain Revolution: Star with the Out of Control 

Recommendation Preface II Blockchain Has Become the Underlying Technology of Fintech 

Acknowledgements 

Part I If a Revolution Is Needed 

Chapter I Trusted Protocol 

Finding Trusted Protocol 

How Does the World Account Book Work? 

Rational Prosperity of Blockchain 

Building Trust in the Digital Age 

The Return of the Internet 

A Black Box of Your Personal Embodiment and Identity 

Move towards the Goal of Prosperity 

Prospects and Hidden Dangers of the New Platform 

Chapter II Lead the Future: Seven Design Principles of Blockchain Economy 

Seven Design Principles 

Design Future 

Part II Transformation 

Chapter III Reshape the Image of Financial Services: From a Money Machine to a Platform for Making Wealth 

A New Look of the World's Second Oldest Industry 

Eight Core Functions: How to Achieve Change in the Field of Financial Services 

From Stock Exchange to Block Exchange 

Faust's Blockchain Contract 

Financial Public Services 

Banking Applications: Who Is the Winner in Retail Banking Business 

"Google Translate" in the Business Community: A New Framework for Accounting Calculation and Corporate Management 

World Account Book 

Triple-entry Bookkeeping Privacy Protection Is for Individuals Rather than Businesses 

Reputation: You Represent Your Credit Scores 

Blockchain IPO (Initial Public Offering) 

The Market Predicts that the Rest of the Markets 

Eight Core Functions and the Roadmap 

Chapter IV Redesign the Structures of Companies: Core and Edge 

Build ® Company with Consensus Systems 

Change Boundaries of Companies 

Determine Boundaries of Companies 

Chapter V New Business Models: Look for New Opportunities on the Blockchain 

BAirbnb VS.Airbnb

BAirbnb VS.Airbnb 

Global Computing: The Rise of Distributed Application 

King of Dapp: Distributed Business Entity 

Independent Agent 

Distributed Autonomous Enterprise 

Seven Business Models of Open Networking Enterprises 

Change Your Future: Business Model Innovation 

Chapter VI Account Book of Everything: Activation of the Physical World 

Provide Power for People 

Evolution of Computers: From Mainframes to Smart Pills 

IoT Needs an Account Book for Everything 

12 Transformative Areas: Activation of the Physical World 

Economic Gains 

Future: Uber to Suber 

Change Your Future with the World of Smart Objects 

Chapter VII Address the Prosperity Paradox: Economic Inclusion of Blockchain 

A Pig Is Not a Piggy Bank 

New Prosperity Paradox 

A Roadmap to Prosperity 

Blockchain Facilitates Humanitarian Assistance 

Safe as Home? A Road to Asset Ownership 

Challenges and Leadership Opportunities at the Implementation Level 

Chapter VIII Reconstruction of Government and Democracy 

Some Aspects Need to Be Improved 

High Performance Government Services and Operations 

Empower Citizens to Serve Themselves and Others 

Second-generation Democracy 

Blockchain Voting Mechanism 

Alternatives to Politics and Justice 

Involve Citizens in Solving Major Problems 

The Application of Democratic Means in the 21st Century 

Chapter IX  Liberate the Cultural Industry on the Blockchain 

Fair Music Deals: From Music Streaming to Quantitative Pricing of Rights 

Artlery for Art Lovers: Link Artists to Regular Customers 

Send the Message out: The Key Role of Education 

The Cultural Industry Is Growing with the Support of the Blockchain and the Public 

Part III  Opportunities and Potential Concerns 

Chapter X Overcome Difficulties: 10 Challenges in Implementation 

The Technology Is Still Unqualified for Large-scale Use 

Unsustainable Energy Consumption 

The Government Will Stifle or Distort It 

The Powerful Vested Interests of the Old Paradigm Will Step in 

Inadequate Incentives for Distributed Large-scale Collaboration 

Blockchain Will Have an Impact on Employment 

The Governance of the Protocol Is like Herding a Flock of "Cats" 

Independent Agents Will Form Skynet Robots 

Big Brother Is Still Breathing down Your Neck 

Criminals Will Also Make Use of the Network 

Is This a Reason for the Failure of Blockchain, or a Challenge To the Implementation Process? 

Chapter XI The Next Generation of Leaders 

Who Will Lead a Revolution? 

Blockchain Ecosystem: Participants Cannot Be Identified without a Roster 

Aphorism about Blockchain Regulation 

The Senator Who Could Change the World 

Central Banks in a Decentralized Economy 

The Contrast between Regulation and Governance 

A New Framework for Blockchain Governance 

A New Agenda for the Next Digital Age 

Trusted Protocol and You 

Appendix Blockchain Glossary