Financial Markets and Portfolio Management

, Volume 32, Issue 3, pp 329–331 | Cite as

Daniel Drescher: Blockchain basics: a non-technical introduction in 25 steps

Apress, 2017, 255 pp, ISBN: 978-1-4842-2603-2
  • Nicolas KubeEmail author
Book Review

Blockchain is one of today’s new buzzwords. Many people consider this technology disruptive. Its potential draws on the possibility to enable trustworthy transactions between individuals in an untrustworthy environment without any central party. This characteristic challenges the position of today’s intermediaries like banks or stock exchanges, which commonly guaranteed trustworthy transactions. One can even imagine many more situations in which blockchain can alter the position of intermediaries. The thought that a technology might substitute a whole system, e.g., the majority of the banking system, is fascinating, astonishing, and terrifying at the same time.

Since the technology is rather new and applications are mostly hosted by start-ups, knowledge about blockchain is quite heterogeneous. It is typically concentrated in the financial industry, technical entrepreneurship, and academia. The second hurdle to understand blockchain is the math behind the technology, since it relies on...

Copyright information

© Swiss Society for Financial Market Research 2018

Authors and Affiliations

  1. 1.Swiss Institute of Banking and Finance (s/bf) of the University of St. GallenSt. GallenSwitzerland

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