The Truth Machine is a book written by an incredible team of experienced financial journalists; Paul Vigna and Micheal J. Casey. The book centers its sentiments on blockchain technology, its application, and contribution to the “token economies.” As you peruse through the book, expect to pump into some information on the peer-to-peer role of blockchain decentralized technology.
What Does This Book Talk About?
In the book, the authors provide their objective views on the current industry developments and go ahead to point at all the opportunities, risks and difficulties that one should expect. In a snapshot, this book targets the increasing segment of universal technological innovators, system engineers, all forms of technologically aware traders and banking institutions. However, that doesn’t mean that it won’t be useful to those outside these fields as the aspect of technology affects everyone in one way or the other, especially at these fast-evolving times.
According to The Truth Machine book authors, the purpose of technology is widespread and works to serve an enormous function in this world. They then go ahead to explain that this purpose, spreads across all sectors and individuals right to the “Internet of Things.” Therefore, individuals should expect to see all technological changes take effect to impact the society, democratic aspects and the economy as a whole. For instance, according to the authors, this could even at some point lead to commercialization of basic needs one of them being your reputation.
However, unlike most people think, this book is not all about Bitcoin as much as there are frequent mentions of the same. The main argument lies in the use of Blockchain in the Bitcoin system that has enabled the platform to function correctly over the years. A reason as to why there haven’t been any claims on the Bitcoin platform in nine years. And although the use of the internet comes with numerous advantages, it also has its share of flaws, especially with the duplication of digital data. Through this, many systems get compromised with others mainly earning from these unethical behaviors.
Blockchain seeks to bring sanity in all system operations through exercising democracy with a set of standardized regulations. The aspect of additional protocols contributes to corrupt deals, hence creating bad relations. The issue is also dealt with the elimination of gatekeepers in the blockchain systems. Blockchain dictates people to agree to a given set of regulations.
However, this can prove difficult in today’s world, which still embraces the existence of asymmetry power. Every sector in various parts of the world has the minority as big shareholders. But then does their opinion count? In fact, that’s far from reality. Even the distribution of benefits is asymmetrical. The same case applies to the corporate world as the big ones hijack the economy at the expense of the established ones.
The Truth Machine Book In Conclusion
According to the authors, the central role of blockchain revolves around toning down individualism, which according to us isn’t as easy as words make it sound. And my ultimate takeaway from the Truth Machine book is the constant ballet between the individualism ideologies and communist ideologies. However, the democracy that works well been today revolves around individualism. We do hope we are wrong, yet, as we see no chance of 1% eviction to create room for the 99% minority. The book seems pretty good to us, so we recommend that you read it. It goes from $12.44-$19.71 at Amazon.