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Blockchain beyond cryptocurrencies
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In this session… When and how can enterprises adopt Blockchain?
What is Blockchain? Why and how will it disrupt industries? What are some of the business use cases? When and how can enterprises adopt Blockchain? In this session…
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2017 in numbers Blockchain @ peak hype Bitcoin > $10,000
Total cryptocurrency marketcap $330 Billion Up 1600% in 2017 $3.6 billion raised so far in Initial Coin Offerings Source: Gartner emerging technologies hype cycle, July 2017.
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What is Blockchain? Immutable Synchronized Decentralized Secure
Shared Datastore Verifiable
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The computer science behind Blockchain
Cryptography (Merkle hashes, Signing, Proof-of-Work) Databases (Transaction processing, Consistency, Linearization) Distributed Systems (Distributed consensus, Fault Tolerance, Replication) Networking (P2P networks, communication protocols)
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Bitcoin: A Peer-to-Peer Electronic Cash System
Blockchain: The beginning … Shared Ledger P2P Networks, Replication, Distributed Consensus Proof-of-Work Untrusted participants, mining, easy cryptographic verification Chain of blocks Markel hash tree, signing, cryptographic immutability Incentivization Mining rewards, transaction fees Bitcoin: A Peer-to-Peer Electronic Cash System - Satoshi Nakamoto
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1 4 2 3 5 Smart Contracts Code that runs on the Blockchain
Censorship Resistant 2 Immutable Determinate computation in response to transactions 3 5 Can control Blockchain assets Smart Contracts
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Public Blockchains Private Blockchains Need network effect
Open, anonymous participation Censorship resistant Tokens needed to transact Public Blockchains Private Blockchains Trusted single source of truth Consortium of organizations Verified identity and admission control Decentralized ledger
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Today Tomorrow … intermediaries, many versions of truth
Entity A Entity B Entity C Regulator Trusted Intermediary Auditor Tomorrow ... disintermediation, immutable shared-truth Entity A Entity B Entity C Regulator Auditor
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New digital business models
Strengthen security Cut costs What can blockchain do for businesses ? Simplify compliance Bring efficiency New digital business models
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Commercial Paper Demo Investor Issuer CRA NSDL Registrar IPA
6. Request Investor DP Account 4. Request Credit Rating 5. Publish Credit Rating Doc 9. Publish CP issuance to IPA 3. Publish CP Current, CP Allocation and Redemption DP account 10. Send Payment Ref. ID 2. Verify LOI agreement and Allocate ISIN 8. Create CP Trade 1. Create CP and Request ISIN 7. Publish DP Account 11. Verify Payment Investor Issuer CRA NSDL Registrar IPA Bank Demo
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1 2 Finance 3 4 5 Cross-border Payments Know-your-customer
Inter-bank netting and settlement 3 Mortgage provenance and tracking 4 Trade Finance 5
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1 Government 2 3 Land Records Upholding service guarantees to citizens
Inter-state or inter-agency settlements 3
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1 Healthcare 2 3 Patient-centric health-records
Pharmaceutical track and trace supply chain 2 Tamper-proof clinical trials 3
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Do you really need a Blockchain?
Trusted Intermediary Multiple Writers Single Source of Truth Auditability Business Network Getting Started… Do you really need a Blockchain?
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Leveraging Blockchain
5 Scale and deploy 4 Review and revise the pilot 3 Do a pilot with select partners 2 Build a proof-of-value prototype 1 Find natively digital processes that qualify
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Blockchains – ongoing work Enterprise adoption challenges
Performance – latency and throughput 1 Building a consortium 1 Scaling the blockchain data-store 2 Operational cost 2 Data and transaction privacy 3 Regulatory support 3 More efficient consensus models 4 Interoperable standards for blockchains 4 Inter-blockchain transactions 5
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The arc of the Internet is bending towards decentralization.
Blockchain brings decentralized trust and immutable, single source of truth Value hinges on network effect Confidentiality, interoperability and performance are key Proof-of-Value Pilot Scale 1 2 3 4 The arc of the Internet is bending towards decentralization. - Naval Ravikant — Entrepreneur, Investor
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Questions and Suggestions? Thank You!
Pandurang Kamat @pandurangkamat
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