Why this book?

Blockchain has its ugly little 🦆, his name is Bitcoin ("coin-coin" in french = quack quack).

The book gives a view on the root of this phenomenon in 8 key points :

• Like the web in the 80's, France has difficulties to apprehend this change
• blockchain is an pretty old technology, reinvented at the occasion of the crisis of 2008
• the platformisation of currency integrates simultaneously the payment system and its value
• The blockchain currencies escape for the first time in centuries to the control of governments
• Bitcoin embodies all the security inherited from the cypherpunk philosophy of the 1990s.
• The monetary crisis of the last decade showed that currency it too important to be kept in the control of states.
• The programmable currency opens a new era of application in all sectors
• Worldwide competition in the field already began

The book was intended to put the attention to the French government, that this innovation should not be put aside like was the internet. But in France, I mostly heard few billions for AI and provide fiber connection to everyone, not really in the direction of individual freedom.

What did I learn?

The Singularity is near citation from Ray Kurzweil . What he calls "singularity" is that moment in the future when exponential technological progress will become so rapid that our minds today are unable to think of all the consequences.

The history of currencies through the ages is as old as civilization. For me, this is explains why this paradigm shift is taking time to become an inevitable part of our daily lives.

But few people can apprehend it due to previous events (Bitcoin from 20k$ to 3k$ in few months and Nabila shouting to buy at its highest). When you hear the rumors filling up the playgrounds, it's time to sell.

The fact that Bitcoin has been running since 2008 makes possible it to carry on 10 more years ahead. It is genetically in its code:

• the more it is known to the public
• the more decentralized it gets
• the more secure it becomes.

Disruption possibilities are nuts starting with the old dream of a Austrian-British visionnary Friedrich Hayek in 1976 writing about "The Denationalization of Money". As 25% Austrian, I like to say that a lot of nice economics theories found their roots in Austria. And they contradicts Keynes' theories. Meaning that steady assistance to companies and banks will not protect/save us (the citizens) in the long run.

The energy consumption of the Bitcoin is important to tackle. But understanding that is the price to pay to have a safe network dealing with huge amount money that makes more senses. How much energy Visa and Mastercard IT infrastructure is consuming, that would make a good benchmark.

What to do about it?

Educating about it, I ran a keep calm and curious session at my work to explain how it makes up a registry decentralized free from 3rd parties. May be I should do more, it is fun!

Diversify your knowledge about blockchains maybe some are already disrupting your sector, there are :

• blockchain to collect vintage sardine tins (SARD),
• to bring cybersecurity features (GLA)
• to track fraud activities(TEZOS),
• to share value of programming abilities (LISK)
• and few hundred to do what ever

To my point of view Business model blockchain related cannot be represented the same as traditional Osterwalder Canvas. I'll certainly have to get into it sometime soon.