Banks should welcome rather than worry over the technology behind Bitcoin, says Don Tapscott, author of “Blockchain Revolution.” Mr. Tapscott talks to the Wall Street Journal’s Charles Forelle at the World Economic Forum in Davos, Switzerland. Photo: Getty Images

“I call it the World Wide Ledger: it’s a massive global distributed spreadsheet, kind of like a distributed database. It can record any structured information. It can record a transaction, but it could also record a marriage license, a land title, or the fact that that light purchased power from the power grid and paid for it. This could be the next generation of the internet.” — Don Tapscott on the possibilities of blockchain technology