In his latest book, Chain Reaction: How Blockchain Will Transform the Developing World (Palgrave Macmillan, 2021), New Markets' Gavin Serkin and co-authors divide the world into two:
For some, blockchain seems a poor substitute for an efficient banking and regulatory system in which transactions are settled instantly and contracts are underpinned by solid institutions.
For others, it will be truly life-changing – namely those living in countries where rule of law is weak, concepts of ownership are vague and, consequently, trust in institutions is in scarce supply.
With blockchain, we are about to witness a leapfrogging – one that will bring the next billion emerging consumers into the formal economy by creating reliable institutions of contract, ownership and trust among people previously denied such luxuries.
“Chain Reaction is showcasing how blockchain is revolutionizing governance, building trust around the developing world, with many examples of what blockchain can do for society,” said Arunma Oteh, former World Bank Treasurer, now Academic Scholar at the University of Oxford.
“The scenario approach is the perfect way to step beyond the clichés about blockchain and explore the full range of possibilities in a rich and compelling way—and you simply could not ask for better guides,” said Tim Harford, Financial Times columnist, BBC presenter and author of The Undercover Economist.
“A thoroughly enjoyable primer for understanding blockchain, distributed ledger technology and cryptocurrencies, and a wonderful insight into how the technology that started with Bitcoin is being applied today. Highly recommended,” wrote Mark Mobius, former Executive Chairman of Templeton Emerging Markets Group, and Founding Partner of Mobius Capital Partners.