"Crypto: The Insights You Need from Harvard Business Review" is part of HBR's Insights Series, designed to help business professionals understand transformative technologies reshaping the business landscape. This particular volume focuses on cryptocurrency and blockchain technology, offering a balanced, business-focused perspective on a rapidly evolving sector. Short and concise, only 3 hours of listening on Libby, so much better compared to 8 hours of average audiobook.
The book explores how the cryptocurrency market has grown from approximately $8 billion a decade ago to over $1 trillion, examining key developments like Ethereum's rise, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Blockchain Technology & Governance: The book explains how blockchain enables direct, transparent, and pseudonymous transactions without intermediaries, and introduces the concept of on-chain governance where governance tokens allow stakeholders to participate in decision-making processes. The new technology allows settlement with faster speed and lower cost, offering benefit to the finance industry and business world as a whole.
Investment Perspective: The authors draw parallels between investing in governance tokens and startup equity, highlighting similarities in volatility while noting the unique liquidity and price discovery features of crypto tokens. The illiquid crypto does not give good value, so need to pick carefully.
Business Applications: The book addresses how blockchain and cryptocurrencies can solve problems like high fees, slow cross-border transfers, and payment scams, offering more efficient and cost-effective financial alternatives. However we have never been faced with an extreme condition where electricity gets cut and internet stopped working. Will some of these crypto assets survive this kind of disaster?
Environmental Considerations: The book provides a balanced view on Bitcoin's energy consumption, acknowledging environmental concerns while highlighting Bitcoin's ability to utilize renewable energy sources and stranded energy. Older medium to store value such as precious metal spend a lot of energy during the mining process, and once casted into bullion or minted into coins, the energy spent is probably the storage and transportation. It is nice to have an apple-to-apple comparison between Bitcoin and Gold, but I think it needs more in-depth research.
Strengths
- Business-Centric Approach: Rather than focusing purely on technical details, the book examines crypto from a strategic business perspective, credit to HBR. Should read their books more.
- Balanced Perspective: The narrative shows how cryptocurrencies have transitioned from controversial topics to more mainstream business subjects, offering practical advice for executives
- Real-World Context: The case study of Ivory Tower, an online education platform, illustrates the dilemmas and strategic decisions businesses face when considering cryptocurrency integration
- Comprehensive Coverage: Addresses governance, ownership, investment opportunities, and practical implementation challenges
"Crypto: The Insights You Need from Harvard Business Review" offers a comprehensive and insightful look into the world of cryptocurrencies and their impact on the business landscape, serving as an essential guide for business leaders seeking to understand the complexities of the cryptocurrency market and how to leverage its potential.
The book successfully bridges the gap between technical cryptocurrency concepts and practical business strategy, making it accessible to executives who need to make informed decisions about crypto without becoming blockchain engineers. It's a valuable resource for understanding how decentralized technology is reshaping business models and competitive landscapes.