Blockchain democracy : technology, law and the rule of the crowd /

Investigating the most transformative technology of recent times, this fascinating book dives deep into the origins of blockchain, the technology behind cryptocurrencies like bitcoin. Magnuson (Texas A&M Univ. School of Law) has compiled an enormous amount of research on the subject and put together a compelling case about the fundamental aspects of blockchain applications. Equally exciting is his account of the people behind the implementations and dangerous errors found and exploited by hackers. This is made more worrisome by the reality that this technology is here to stay, as evidenced by its widespread adoption by governments and corporations, despite its invisibility--and illegibility--to the average person. Magnuson efficiently presents many contradictions relating to the security of system algorithms, the environmental impacts of computers performing complicated calculations, and regulatory difficulties. Even if unintentional, the big picture conveyed here is bleak. As Magnuson elaborates, we are entering an era of enormous technological complexity created by anonymous, genius-level programmers, possibly connected to the criminal underworld. Any reader with some interest in technology and politics can easily guess where this leads. Summing Up: Highly recommended. All readership levels. --Jack Brzezinski, McHenry County College