The Rise of Blockchain Technology: Overcoming Theoretical Poverty and Its Implications for Developing Countries

The blockchain is still new and unfamiliar. But blockchain appears to shake an entire technology innovation system. Blockchain is rapidly drawing attention in that it will be able to fundamentally revolutionize industry ecosystem. While cryptocurrency transactions and market capitalization have been popular in mass media, several platform operators in non-cryptocurrency areas such as jewelry, social networks, and entertainment, are also moving to introduce blockchain technology in full swing. In this brief note, we intend to present integrated theoretical strands to summarize various prospects for blockchain technology. Further, we want to provide a reflection as to whether this new technology gives opportunities, challenges, or risks to future society. Particularly, we point out one of its alternative and promising adoption that gives way to new forms of decentralized and autonomous organizations (DAOs).