1. Distributed Ledger Technology (DLT) and Blockchain
Blockchain and its applications

2. Introduction Ishmeet Singh, Blockchain Consultant
I have built technology products for Fortune companies like MasterCard, MetLife and Adobe. I have also built and scaled data-driven, intelligent technology platforms for hedge funds, finance, e- commerce, travel and healthcare companies. 
I consult for and advise multi-million-dollar companies and startups on the application of artificial intelligence, machine learning, big data and Blockchain to solve real world problems.

3. Session Details Fundamental Concepts What is DLT?
What is Blockchain Technology?
Types of Blockchains
How does Blockchain work?
Examples

4. A collection of transactions or data
Ledger
A collection of transactions or data
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

5. An asset transfer onto or off the ledger
Transaction
An asset transfer onto or off the ledger
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

6. Conditions for transaction to occur
Contract
Conditions for transaction to occur
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

7. Network participants in a distributed ledger network
Nodes
Network participants in a distributed ledger network
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

8. Peer-to-peer (p2P) Network
A decentralized/distributed network of nodes that stores, updates, and maintains a distributed ledger
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

9. Centralized Ledger

10. Distributed Ledger
A consensus of replicated, shared, and synchronized digital data geographically spread across multiple nodes
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

11. Public Key Cryptography
An asymmetric encryption scheme that uses two sets of keys: a public key that is widely disseminated and a private key that is only known to the owner
Each node in this network maintains its own copy of the ledger. It is the job of the network as a whole to come to a consensus on the contents of each update to the ledger

12. Public Key Cryptography for Digital Signatures

13. Consensus Algorithm
A consensus algorithm is a process in computer science used to achieve agreement on a single data value among distributed processes or systems.
Consensus algorithms are designed to achieve reliability in a network involving multiple unreliable nodes.

14. Smart Contract
A permanent and immutable collection of code that runs on the blockchain

15. DLT and Blockchain Distributed Ledger Technology Blockchain
Directed Acyclic Graphs
DLT and Blockchain

16. What is Distributed Ledger Technology (DLT)?
A technology that allows for transactions and data to be recorded, shared, and synchronized across a distributed network of nodes using cryptographic tools and a distributed consensus process in an immutable manner
In its simplest form, a distributed ledger is a database held and updated independently by each participant (or node) in a distributed network. The distribution is unique: records are not communicated to various nodes by a central authority, but are instead independently constructed and held by every node. That is, every single node on the network processes every transaction, coming to its own conclusions and then voting on those conclusions to make certain the majority agree with the conclusions. Once there is this consensus, the distributed ledger has been updated, and all nodes maintain their own identical copy of the ledger. 

17. Each participant in the network keeps records, or a ledger, of all transactions between all the parties that the business interacts with. This process is expensive because of duplication of effort and intermediaries adding costs for their services.
Problem Statement
Business networks are inefficient, expensive and vulnerable

18. What is a Blockchain?
A decentralized, distributed and public/private digital ledger
A type of data structure that stores and transmits data in packages called ‘blocks’ that are connected to each other in a digital ‘chain’
Blockchains employ cryptographic and algorithmic methods to record and synchronize data across the network in an immutable manner
Data records are added to the blockchain when multiple distributed parties come to consensus based on pre-agreed rules
First implementation of triple entry accounting
The third entry in triple entry accounting is cryptography, where we have a cryptographic account of the transaction stored permanently and immutably on the ledger.

19. Five Key Components of a Blockchain

20. Types of Blockchains
Public
Private, Permissioned

21. Public Blockchain
A public blockchain network is completely open and anyone can join and participate in the network. The network typically has an incentivizing mechanism to encourage more participants to join the network
Eg. Bitcoin, Ethereum

22. Permissionless Blockchain

23. Private, Permissioned Blockchain
A private blockchain network requires an invitation and must be validated by either the network starter or by a set of rules put in place by the network starter. A permissioned network places restrictions on who is allowed to participate in the network, and only in certain transactions.
Eg. Hyperledger

24. Permissioned Blockchain

25. DLT vs. Centralized Ledger

26. Types of Blockchains Speed of Transactions Decentralization,
Transparency

27. Blockchain Performance Comparison
Permissionless Blockchain
Permissioned Blockchain
Central Database
Throughput
Low
High
Very High
Latency
Slow
Medium
Fast
Number of readers
Number of writers
Number of untrusted writers
Consensus mechanism
PoW, PoS
BFT Protocols
None
Centrally managed No
Yes

28. What are the key Benefits of Blockchain Technology to businesses?
Gains in speed and efficiency
Reduces Risk
Cost reductions
Easier auditability
Increases Trust
Automation and programmability
What are the key Benefits of Blockchain Technology to businesses?

29. Blockchain Applications

30. Example 1: Bitcoin & Cryptocurrencies

31. Example 2: Audit and Compliance

32. Example 3: Supply Chain

33. E: er.ishmeetsingh@gmail.com
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