An Introduction to Blockchain Technology
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Blockchain technology allows for a shared, replicated ledger of transactions that can be viewed by all participants. It enables peer-to-peer exchanges on a distributed network in a secure and non-repudiable way. Blockchain solves issues with monitoring asset ownership and transfers in a trusted business network by providing a permissioned, replicated shared ledger. It is not just for cryptocurrencies like Bitcoin but can be used for any form of asset registry, inventory, and exchange across different industries. The future potential of blockchain applications is still emerging as it will be applied experimentally to many aspects of society over the next few years.
An Introduction to Blockchain Technology
- 1. EK Conference - 2017 Blockchain Technology by Fadi Amroush 01
- 2. EK Conference - 2017 Blockchain is another class of thing like the Internet. It is for any form of assets registry, inventory, and exchange, including every area of finance, economics, and money. Melanie Swan, Founder, Institute for Blockchain Studies. 02
- 3. EK Conference - 2017 The blockchain is a secured protocol enabling peer- to-pear exchanges on a distributed network in a secured, public and non-repudiable. 03
- 4. EK Conference - 2017 Problem(s) solved by the Blockchain 04
- 5. EK Conference - 2017 Ledgers are Important Ledger is THE system of record for a business 05
- 6. EK Conference - 2017 A shared ledger technology allowing any participant in the business network to see THE system of record 06 Blockchain
- 7. EK Conference - 2017 Problem Difficult to monitor asset ownership and transfers in a trusted business network 07
- 8. EK Conference - 2017 Solution a permissioned, replicated, shared ledger 08
- 9. EK Conference - 2017 Bitcoin is the first Blockchain application Blockchain is not Bitcoin 09 Bitcoin
- 10. EK Conference - 2017 10 Blockchain for Business
- 11. EK Conference - 2017 • Records all transactions across business network • Shared between participants • Participants have own copy through replication • Permissioned, so participants see only appropriate transactions • THE shared system of record 11 Shared ledger
- 12. EK Conference - 2017 • Business rules implied by the contract. • Embedded in the Blockchain & executed with the transaction • Verifiable, signed • Encoded in programming language 12 Smart Contract
- 13. EK Conference - 2017 • Ledger is shared, but participants require privacy • Participants need: - Transactions to be private - Identity not linked to a transaction • Transactions need to be authenticated 13 Privacy
- 14. EK Conference - 2017 • Transaction verification & commitment • Cryptographic mining provides verification for anonymous participants but at significant compute cost (proof of work) 14 Validation
- 15. EK Conference - 2017 Market cap Cryptocurrency $75bn Aggregate valuation of blockchain tokens skyrockets 4 times above $100bn. 15
- 16. EK Conference - 2017 More Facts About Blockchain ICO funding +$729m Compare to $235m of venture capitals +800 Cryptocurrencies And more tokens +3x As much of project funding than Venture capital The rise of new projects and growth of existing assets has made the blockchain Ecosystem easier to bucket and categorize ~ State-of-Blockchain-Q2-2017 (coin desk) 16
- 17. EK Conference - 2017 More Facts About Blockchain 17
- 18. EK Conference - 2017 More Facts About Blockchain 18
- 19. EK Conference - 2017 The future potential of the blockchain applications is still unraveling. 06 Future
- 20. EK Conference - 2017 The next couples of years will be all about experimenting and applying to all aspects of society. 06 Blockchain
- 21. EK Conference - 2017 Reference • https://media.coindesk.com/uploads/2017/09/State-of-Blockchain-Q2-2017-.pdf • https://es.slideshare.net/lablogga/blockchain-the-information-technology-of-the-future • https://www.ted.com/talks/don_tapscott_how_the_blockchain_is_changing_money_and_business • https://www.ted.com/talks/bettina_warburg_how_the_blockchain_will_radically_transform_the_economy • https://x9.org/wp-content/uploads/2016/02/Blockchain-Explained-v2.09.pdf 27
- 22. EK Conference - 2017 Q & A follow @fadiamroush [email protected] www.fadyamr.com 37