Mignon, Vincent --- "Blockchains - perspectives and challenges" [2019] ELECD 433; in Kraus, Daniel; Obrist, Thierry; Hari, Olivier (eds), "Blockchains, Smart Contracts, Decentralised Autonomous Organisations and the Law" (Edward Elgar Publishing, 2019) 1

Book Title: Blockchains, Smart Contracts, Decentralised Autonomous Organisations and the Law

Editor(s): Kraus, Daniel; Obrist, Thierry; Hari, Olivier

Publisher: Edward Elgar Publishing

ISBN: 9781788115124

Section: Chapter 1

Section Title: Blockchains - perspectives and challenges

Author(s): Mignon, Vincent

Number of pages: 17

Abstract/Description:

Blockchain is probably the most disruptive and revolutionary technology since the advent of the World Wide Web in the 1990s. Blockchain became known, above all, as the technology behind the bitcoin cryptocurrency. However, its potential still remains largely unexploited and according to experts, opportunities are almost ‘endless’, both in financial and non-financial sectors. Challenges and opportunities in this field vary greatly from person to person depending notably if they are researchers, practitioners or regulators. After a short introduction in order to place the analysis in its context, this chapter will focus on three selected opportunities, namely blockchain as a new payment method (cryptocurrency), as a new method for funding innovation (ICO/TGE) and as a new organizational structure (DAO); it will then focus on three selected challenges, namely regulatory, environmental and governance. The author then questions in a forward-looking manner whether blockchain may be seen as a gateway from the third to the fourth industrial/digital revolution.