The rise of blockchains: disrupting economies and transforming societies

Official URL: https://www.insightturkey.com/book-reviews/the-rise-of-blockchains-disrupting-economies-and-transforming-societies

Blockchain is a relatively new technology and has its own weaknesses. DeFi, or decentralized finance, is one such area where there are numerous hacking attacks against digital currencies or cryptocurrencies. Cryptocurrency wallets especially hot wallets are often associated with cybersecurity risks. Ethereum contracts and DAOs are also frequently hacked. However, blockchain can still be used to improve security and privacy in finance, IoT devices, and even in healthcare. It will work much better than conventional password-based security systems. At a minimum, people won’t have to send over and record their personal data at some central repository. Data won’t be sent over to anyone or anywhere, just access permission will be granted whenever needed. It also provides anonymity, without revealing the true identity of a user. The book is highly recommended for experts, scholars, and researchers interested in digitalization in finance and blockchain technologies in general.