Jan H. Jansen E-mail: info@business-opportunity-russia.com Blockchain Jan H. Jansen E-mail: info@business-opportunity-russia.com

Source: https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv Date: 13 Dec 2017

Source: https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv Date: 13 Dec 2017

Bit Coin Data (https://bitcoincharts Bit Coin Data (https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv, Date: 13 Dec 2017) Date Weighted Price BTC Index 13-12-2011 BTC 1 = USD 3.45 100 13-12-2017 BTC 1 = USD 16,611.09 ?

Bit Coin Data (https://bitcoincharts Bit Coin Data (https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv, Date: 13 Dec 2017) Date Weighted Price BTC Index 13-12-2011 BTC 1 = USD 3.45 100 13-12-2017 BTC 1 = USD 16,611.09 4814,80 Relative change?

Bit Coin Data (https://bitcoincharts Bit Coin Data (https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv, Date: 13 Dec 2017) Date Weighted Price BTC Index 13-12-2011 BTC 1 = USD 3.45 100 13-12-2017 BTC 1 = USD 16,611.09 4814,80 Relative change of 4714.8%

Bit Coin Data (https://bitcoincharts Bit Coin Data (https://bitcoincharts.com/charts/bitstampUSD#rg1460ztgCzm1g10zm2g25zi2gROCzcv, Date: 13 Dec 2017) Date Weighted Price BTC Index 13-12-2011 BTC 1 = USD 3.45 100.00 13-12-2017 BTC 1 = USD 16,611.09 4814.80 Relative change of: 4814.80 = 100 * (1+p/100)^6 𝑝= 6 4814,80 100 −1 ∗100 = 90.73%

Bit Coin Markets Spot market Future market Subday 10 December 2017: The Chicago Board Options Exchange launched futures trading for bitcoin

What are futures? Futures contracts allow investors to agree to buy a certain amount of a commodity, bond or share at a specific price at a designated time in the future, hence the name. It means investors can bet on whether they believe a particular commodity – in this case bitcoin – will rise or fall by a specified future date. They are generally used in commodity markets to hedge against major fluctuations in prices, such as unexpected weather conditions hitting crops. But they are also well established in equity markets, with trading on individual companies and indices such as the FTSE 100 and S&P 500. There are risks, mainly when investors use debt to finance their futures speculation and their bet goes the wrong way. Source: www.theguardian.com

Cboe XBT Bitcoin Futures Trading Data (Source: http://cfe. cboe Cboe XBT Bitcoin Futures Trading Data (Source: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures, 13 December 2017) Symbol Expiration Last Change High Low Settlement Volume GXBT 17382.19 0.0 XBT/F8 01/17/2018 17620.00 -400.00 18320.00 17090.00 18020.00 424 XBT/G8 02/14/2018 18480.00 +285.00 18195.00 1 XBT/H8 03/14/2018 18000.00 -405.00 18550.00 18405.00 19

Cboe XBT Bitcoin Futures Bitcoin futures are now available for trading on the Cboe Futures Exchange, LLC (CFE). CFE launched trading in Cboe bitcoin futures on December 10 under the ticker symbol "XBT" (contract specifications | fact sheet.) This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions. (Source: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures, 13 December 2017)

Cboe XBT Bitcoin Futures (Source: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures, 13 December 2017)

Blockchain Financial Cypto currencies Bitcoin Ethereum Non-financial Energy Logsitics data Etc.

Bitcoin Exchanges & Wallet (Source: bitcoin.com)

Risks No central bank involved Price volatility (what / who is determing the value in terms of $ or €?) Illegal activities Gambling Drugs Dark room (of the internet) Etc

Blockchain URL Topic http://blocklab.nl/ Information on blockchain applications http://www.blockchain-lab.org/ Blockchain University of Delft www.bitcoin.com How to get an account in Bitcoins (wallet) https://www.bitcoin.com/guides/bitcoin-white-paper-beginner-guide https://www.bitcoin.com/info/bitcoin-cash-is-bitcoin http://www.cboe.com/ Chicago Board Options Exchange https://www.dnb.nl/nieuws/nieuwsoverzicht-en-archief/dnbulletin-2017/dnb362598.jsp Dutch Central Bank (risks & opportunities)

A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. Harvard Business Review defines it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." For use as a distributed ledger, a blockchain is typically managed by a peer- to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Source: https://en.wikipedia.org/wiki/Blockchain

Source: http://www.blockchain-lab.org/#publications

Hash code Example: 6b1f6fde5ae60b2fe1bfe50677434c88 Source:https://en.wikipedia.org/wiki/Blockchain#/media/File:Bitcoin_Block_Data.svg

General ledger of company X Assets Liabilities Cash Accounts payable (A/P) Link to supplier Y Accounts receivable (A/R) Link to customer Z

General ledger of company Z (customer) Assets Liabilities Cash Accounts payable (A/P) Link to supplier X Accounts receivable (A/R) Link to customer …

General ledger of company Y (supplier) Assets Liabilities Cash Accounts payable (A/P) Link to supplier … Accounts receivable (A/R) Link to customer X