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Why Blockchain Isn’t a Revolution
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Why Blockchain Isn’t a Revolution

Kevin Werbach
Knowledge@Wharton, 2018
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7

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Recommendation

Technological innovations often lead to public confusion and misconceptions about their impact and potential. This is all the more true for innovations as complex as the blockchain. Wharton professor Kevin Werbach separates the concepts cryptocurrencies, blockchain and cryptoassets and explains their individual purpose, function, potential application and long-term significance.

Take-Aways

  • Cryptocurrency, blockchain and cryptoassets differ in their potential to revolutionize the economy and society.
  • Cryptocurrency puts trust in a network of record-keeping traders as opposed to a central entity.
  • If applied to society at large, the concept of “decentralizing trust” could indeed be revolutionary.  

About the Author

Kevin Werbach teaches legal studies and business ethics at The Wharton School, University of Pennsylvania.

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