In this CoinDesk 2016 in Review special feature, Don and his son Alex chart a broad overview of blockchain in 2016, with an eye to what is to come in the year ahead. Notably, they argue that 2016 was the most important year for the tech since the debut of Satoshi Nakamoto’s bitcoin white paper.
2016 was a critical year, the most important since Satoshi Nakamoto published “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008.
When we wrote “Blockchain Revolution”, many were speculating on what this technology could achieve. We did our best to capture those possibilities – for the economy, government, and society -and have been surprised by the breadth of innovation underway.
For example, central banks have emerged as powerful forces in the future of cryptocurrencies and are gaining momentum. The Bank of England and others are already exploring blockchain-enabled fiat currencies to reduce friction, cost, and risk, increase transparency and accountability, and improve oversight of the financial system.