Edward Luttwak: I’ll tell you why there is no turning back from blockchain technology

«There is no turning back from blockchain technology because it is too practical and useful. That is why it is moving ahead so fast». The economist Edward Luttwak has no doubt of the future that is waiting for us: blockchain technology will give us the chance to ensure security of digital information and gradually abandon paper.
Dr. Luttwak wrote the introduction of the book “Cripto-revelation”, by Massimo and Andrea Tortorella, and a few weeks ago he took part to the book launch event at the Link Campus University, in Rome. In this brief interview, he explains in a simple way what a blockchain is and how it works. In particular, he stresses its security and the difficulty to hack it, being a chain formed by hundreds of thousands of blocks, each containing the key to open the previous one: «It is much easier to fake a piece of paper than 20,000 different computers linked one to the other». For this reason, in his opinion, public administrations will soon replace paper with this new and advanced technology.
Moreover, blockchain can have even a much more concrete impact on our lives. Dr. Luttwak gives the example of phone bills: «If you are sure that you have paid your bill but the phone company says you haven’t, with blockchain technology you will both be able to check irrevocably whether the bill has been paid or not».