The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology

The definitive pioneering blueprint covering the what, why, and how of the blockchain

Blockchains are new technology layers that rewire the Internet and threaten to side–step older legacy constructs and centrally served businesses. At its core, a blockchain injects trust into the network, potentially cutting off intermediaries from serving that function and creatively disrupting how they operate. Metaphorically, blockchains are the ultimate non–stop computers. Once launched, they never go down, and offer an incredible amount of resiliency, making them dependable and attractive for running a new generation of decentralized services and software applications.

"When it comes to the blockchain, William Mougayar′s vision and insights are unparalleled. He takes us on a discovery journey with clarity and authority. This is a fundamental book if business leaders want to survive the blockchain′s upcoming whiplash."
BRAD FELD, Managing Director, Foundry Group; best–selling author of Venture Deals

"Mougayar has written a highly authoritative book, charting new territory in our understanding of the blockchain. I strongly recommend it to executives who are leading their organizations into the future."
John Ruffolo, CEO, OMERS Ventures

"Anyone who′s been close to the blockchain realizes just how profoundly this innovation could affect almost every industry. The Business Blockchain is an important book that offers practical advice and prescriptions for getting on with creating and realizing your own blockchain vision."
Chris Owen, Vice President, Enterprise Shared Platforms Blockchain, TD Bank Group

Acknowledgments xiv

A Personal Preface xvi

Introduction xxi

1 What is the Blockchain? 1

2 How Blockchain Trust Infiltrates 29

3 Obstacles, Challenges, & Mental Blocks 61

4 Blockchain in Financial Services 85

5 Lighthouse Industries & New Intermediaries 109

6 Implementing Blockchain Technology 124

7 Decentralization as the Way Forward 147

Epilogue 167

Selected Bibliography 171

Index 173

Additional Resources 177

About the Author 179

WILLIAM MOUGAYAR is general partner at Virtual Capital Ventures, an early stage tech fund. He is on the board of directors of OB1, the OpenBazaar open source protocol that is pioneering decentralized peer–to–peer commerce; a special advisor to the Ethereum Foundation; a member of OMERS Ventures board of advisors; an advisory board member to the Coin Center; and founder of Startup Management.

William Mougayar has been described as the most sophisticated blockchain business thinker. He is a blockchain industry insider whose work has already shaped and influenced the understanding of blockchain for people around the world, via his generous blogging and rigorous research insights.