TED: How the blockchain is changing money and business | Don Tapscott

The video discusses blockchain technology, its potential to revolutionize various industries, and its role in creating a more equitable economy. It highlights the limitations of current centralized systems and introduces blockchain as a decentralized solution. The video explains how blockchain works, its security features, and its applications in financial services, land ownership, the sharing economy, and data privacy. It also covers the development of smart contracts on the Ethereum blockchain and the potential for blockchain to address social inequality.

What is the technology that is expected to have the greatest impact in the coming decades?

• Artificial Intelligence

• Social Media

• Blockchain

• Big Data

What problem does the blockchain solve that traditional digital systems struggle with?

• User Authentication

• Network Latency

• Double Spend Problem

• Data Redundancy

How does blockchain establish trust between parties?

• By using cryptography and collaboration

• Through a central authority

• By relying on user reviews

• Through government regulation

What is a unique feature of the Ethereum blockchain?

• It is a closed-source platform

• It is controlled by a central bank

• It allows for the creation of smart contracts

• It is only used for financial transactions

How can blockchain technology potentially change the financial services industry?

• By making transactions slower

• By eliminating the need for settlements

• By increasing transaction fees

• By centralizing data storage

What is the largest flow of funds from developed to developing countries?

• Remittances

• Corporate Investments

• Foreign Aid

• Tourism Revenue

How can blockchain help in the sharing economy?

• By centralizing control

• By creating distributed applications

• By reducing user privacy

• By increasing service fees

What is a major benefit of owning your data on a blockchain?

• Increased advertising

• Limited data access

• Higher transaction fees

• Enhanced privacy and control

How does blockchain technology benefit content creators?

• By reducing their audience

• By providing fair compensation

• By increasing piracy

• By limiting distribution

What is a potential solution to social inequality discussed in the video?

• Redistributing wealth

• Predistributing wealth

• Increasing taxes

• Reducing global trade