On November 12, 2019, MOBI hosted MoCo Los Angeles, bringing together technologists, academics, and executives from the public and private sectors to introduce the New Economy of Movement. We envision a future of mobility complete with car wallets, usage-based payment, and data transparency. At MoCo Los Angeles, we had the privilege of hosting Author of Blockchain Revolution and Founder of the Blockchain Research Institute, Alex Tapscott, as our keynote speaker.
Tapscott discusses the Blockchain Revolution, smart contracts, decentralized business models, and citizen-owned identity.
Listen to the full speech:
Some Key Points
The Blockchain Revolution
The Trust Protocol
The increased adoption of blockchain technology will result in increased transparency and access to data management. We can expect our processes to be conducted with integrity, through collaboration, consensus, and clever code. With blockchain, trust is no longer a human interaction, but a built-in trust protocol.
We can create a process in which business agreements are coded within digital assets. Smart contracts exist as self-executing contracts that carry out agreements across a blockchain network, tracking and controlling execution.
Blockchain Business Models
The cost of moving information has dropped millions of fold, but this trend doesn’t apply to trust. With blockchain, managing trust is more affordable.
With blockchain we have an opportunity to redefine business models that consist of:
Alex Tapscott outlines eight open networked enterprise business models:
Out with Digital Feudalism
In the old models, we provide resources, our activity, our data, to digital landlords (e.g. Facebook) in exchange for “free” services.
A New Opportunity: Citizen-Owned Identity.
We develop a digital identity built by our interactions. In the new model, under blockchain, we regain control of our identity.