2: Internet Killed the Video Store: Lessons from History Repeated in the Blockchain World?

This chapter compares the history of the internet and its effect and destruction of firms and industries with the effects of a blockchain-enabled world and the convergence of tech in to one OECD.

The history of the internet and its effect upon businesses and the world of work is relatively short but significant in the context of global economic development. The previous two decades has seen the birth of the gig economy and the disruption of existing business models to the detriment and elimination of some (Blockbuster video), compared to the creation of a new wave of platform businesses that include everything from Uber to Airbnb and Amazon.¹