The father and son authors of the new book "Blockchain Revolution" took to the stage this morning where Nasdaq opens and closes its market to discuss their latest work.
Kicking off a panel discussion with several industry leaders, Don Tapscott and Alex Tapscott took turns discussing how the management structure of some of those very same companies could be disrupted by distributed ledger technologies like blockchain.
The elder Tapscott set the stage for the conversation with a point-by-point explanation of why he believes blockchains can do to the management structure of companies what bitcoin and other applications are doing to value exchange.
Don Tapscott described the bigger-picture impact: "This surely will have an impact on the firm." Coincidental timing
On the same day " Blockchain Revolution " hit stores, a distributed autonomous organization called TheDAO would also launch its crowdfunding campaign . Given the leaderless, autonomous nature of the project and the impressive capital it has raised, it was a topic of conversation at the day’s event.
According to Tapscott, the reason The DAO was created is because its structure provides the most efficient way for its creators to minimize transaction cost.
Citing Nobel prize-winning economist Ronald Coase, Tapscott argued that until now the structure that best facilitated that process was vertically integrated, which generally speaking means a leader overseeing other leaders who oversee entry-level employees.
But with smart-contract enabled management infrastructures, supporters of "The DAO" argue this structure can be flipped on its axis and managed horizontally.As an example of the types of services that may one day be delivered under this management structure, Tapscott invoked the business models of some of today’s leading Silicon Valley startups.Tapscott mentioned that blockchains could enable the creation of what he called a "super Uber" or "bAirbnb" (blockchain Airbnb).He suggested the technology that powers The DAO could also […]
