What is Blockchain (Distributed Ledger Technology)?

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Presentation transcript:

What is Blockchain (Distributed Ledger Technology)? The blockchain is a database or ledger that maintains a continuously growing list of records or transactions. Automated Trusted Distributed Secure Permissioned P2P Transactions – Distributed Network – Consensus

Different Ledger Systems Centralized Encyclopedia Britannica (1768–2010), 4,411 contributors 32,640 Content Pages (2010) Expensive Outdated Slow Limited Decentralized Wikipedia (2001-2017) 120k out of 31.6 million registered users have edited in the last 30 days 5,472,555 content pages Free Constantly updated or noted Fast, interlinking subjects Unlimited

A Legitimate Use Case: Refuge to Return

Cross-border credit history

A Digital Economic Identity Definition: Digital or electronic credentials defining a person or persons and their history or histories of financial, occupation, life events and other interactions in the world economy. Trust-Network Enablement Information: family and trusted relationships business, govt., diaspora relationships Personal Information Baseline: demographic property and assets credit and transactional history health records how would a decentralized approach affect our processes and enable what was not practical before?” Useful when you need Radical transparency, automated execution of contract terms, and open collaboration with other agencies IDENTITY IS THE FOUNDATION OF ALL TRANSACTIONS