What Business Leaders Should Know About Cryptocurrency

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Harvard Business Review

Management, Business/marketing, Strategy, Entrepreneurship, Business/management, Hbr, Finance, Marketing, Communication, Innovation, Teams, Business, Business/entrepreneurship, Economics, Harvard, Leadership

4.3 • 1.9K Ratings

🗓️ 1 December 2020

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jeff John Roberts, an author and journalist, dug deep into the world of cryptocurrency to figure out what the rest of us really need to know about it. He acknowledges that the proliferation and volatility of digital currencies can make them seem like a fad but argues that the oldest among them -- bitcoin -- and the blockchain technology behind it are here to stay because they offer a more efficient way for companies and consumers to transact. He describes in plain English how crypto works and explains why now is the time for forward-thinking business leaders to understand -- and adapt to -- this new kind of currency. Roberts is the author of the book "Kings of Crypto: One Startup's Quest to Take Cryptocurrency Out of Silicon Valley and Onto Wall Street."

Transcript

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0:00.0	How do you navigate gender in your workplace?
0:04.0	HBR's fan favorite podcast Women at Work is back with personal stories, the newest research,
0:09.6	and practical advice on navigating divorce, disability, and career failures.
0:14.0	Listen for free to H.B.
0:16.0	Women at Work wherever you get your podcasts. Welcome to the HBRA, Dickas from Harvard Business Review. I'm Allison Beard. How do you as a company or individual figure out when it's time to start paying attention to a new technology?
0:51.0	How do you tell whether it's a flash in the pan or something that will
0:54.2	actually go mainstream? How do you learn about it? When do you invest resources and
0:58.8	how do you predict the impact it will have on your business? For many of us, there's a temptation to dismiss the latest thing.
1:05.9	It's too niche or a passing fad.
1:08.5	But as anyone who studies business knows, those who ignore important innovations, tend to get trampled by them.
1:15.0	Companies can reach a point of no return where their unwillingness to adapt spells disaster.
1:20.3	Today's guest says that cryptocurrency might just be one of those key developments that we all need to embrace and understand as soon as possible,
1:28.0	because it and the blockchain technology behind it will fundamentally change the way we do business.
1:34.0	Jeff Roberts is the author of the new book, Kings of crypto,
1:37.2	one startup's quest to take cryptocurrency out of Silicon Valley and onto Wall Street.
1:42.0	He's with me now. Hi Jeff.
1:43.4	Hi, Allison, thanks for having me.
1:47.0	So, So cryptocurrency, Bitcoin, Bitcoin, Bitcoin, Alcorn, blockchain, these are terms that many business people
2:01.2	here and their eyes kind of glaze over.
2:04.0	You know, they find it too complicated to learn about and understand.
2:09.0	Are you able to give me just a simple explanation of what
2:13.4	cryptocurrency is and how it works?
	...

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