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Basic introduction in blockchain, smart contracts, permissioned ledgers
The document presents an overview of blockchain technology, defining it as a transparent and secure distributed ledger that enables trustless collaboration among users. It covers various aspects of blockchain, including the role of smart contracts, ownership transparency, and the differences between centralized and decentralized systems. Additionally, it emphasizes the importance of collaboration in blockchain strategy and the ongoing need for trust and data in the financial system, while also supporting a charitable cause.
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Basic introduction in blockchain, smart contracts, permissioned ledgers
- 1. Koen Vingerhoets –find me on
- 2. Agenda 1. Shortest blockchainintro ever 2. A high level view on distributed ledger technology 3. Capita selecta : smart contracts 4. Capita selecta : which blockchain? 5. Closing thoughts
- 3. 2008 – “SatoshiNakamoto” writes…
- 4. Bitcoin is aunique transfer of value
- 5. Blockchain persists allthe unique transfers
- 8. Agenda 1. Shortest blockchainintro ever 2. A high level view on distributed ledger technology 3. Capita selecta : smart contracts 4. Capita selecta : which blockchain? 5. Closing thoughts
- 9. Blockchain : anew paradigm
- 10. Blockchain : atechnical definition The blockchain is, from a technical point of view, A unique, public and transparent distributed ledger That stores all transactions immutably and Permits predefined actions on those transactions In a cryptographically secured environment.
- 11. Blockchain : abusiness definition The blockchain is, from a business point of view, A shared platform On which parties who don’t know or trust each other Are able to collaborate with respect for privacy Without relying on a possibly corrupt administrator.
- 12. Understanding distributed ledgers Nomen est omen : blockchain A transaction is - Declaration of an incident - Pictures of the accident - Signed contract - A proof of payment - An offer from car repair - Steps in the RDR wizard - …
- 13. Understanding distributed ledgers Encryption vs hashing vs 1. Every hash is unique 2. Infinitly reproducable 3. One way traffic A hash is NOT unique
- 15. Blockchain : adatabase with benefits
- 16. Transparency Blockchain : adatabase with benefits
- 17. Understanding distributed ledgers- transparency Permissioned vs permissionless vs
- 18. Ownership Transparency Blockchain : adatabase with benefits
- 19. Understanding distributed ledgers- ownership How value is stored Nicki -> KoenIN 0,8 BTC Wim -> KoenIN 0,6 BTC Koen -> ThomasOUT 1 BTC Wim -> KoenREST 0,4 BTC Koen receives two payments - 0,8 BTC from Nicki - 0,6 BTC from Wim Koen transfers 1 BTC to Thomas - 0,8 BTC + 0,2 BTC - 0,4 BTC is unspent transaction • (A defined number of) assets are stored on the blockchain • Each asset is identified • Assets are divided • Assets are transferred (not copied) => Clear view on who owns what when.
- 20. Ownership Transparency Traceability Blockchain : adatabase with benefits
- 21. Understanding distributed ledgers- traceability Defense of the sequence
- 22. Ownership Transparency Traceability Distributed Blockchain : adatabase with benefits
- 23. Understanding distributed ledgers- distributed Centralized vs distributed Trusted party & Single point of failure
- 24. TrustOwnership Transparency Traceability Distributed Blockchain : adatabase with benefits
- 25. Understanding distributed ledgers- trust Consensus as a service
- 26. TrustOwnership Transparency Traceability Distributed Smart contracts Blockchain :a database with benefits
- 27. Understanding distributed ledgers– smart contracts Smart contracts
- 28. TrustOwnership Transparency Traceability Distributed Smart contracts Blockchain :a database with benefits… … to share with our friends ...
- 29. Blockchain : adatabase with benefits… … to share with our friends ... … to have a single shared source of truth. Blockchain:
- 30. Agenda 1. Shortest blockchainintro ever 2. A high level view on distributed ledger technology 3. Capita selecta : smart contracts 4. Capita selecta : which blockchain? 5. Closing thoughts
- 31. The problem withsmart contracts
- 32. Smart contracts :a definition A smart contract is an agreement whose execution is both automated and enforceable. • The actual “transaction” among parties is expressed through and independently executed by computer code, no party can block it or otherwise tamper with. • It constitutes legally binding rights and obligations of the involved parties. Advantages: • Parties are in consensus at all times as to the existence, nature and evolution of the facts shared among them, which are governed by the program. • Used to satisfy • common contractual conditions, • lower transaction costs and risk, and • eliminate the need for trusted intermediaries.
- 33. Smart contracts :a workflow
- 34. Smart contracts :a Ricardian Contract
- 35. Agenda 1. Shortest blockchainintro ever 2. A high level view on distributed ledger technology 3. Capita selecta : smart contracts 4. Capita selecta : which blockchain? 5. Closing thoughts
- 36.
- 37. Blockchain & financialinstitutions : the forgotten words LIABILITY GOVERNANCE REGULATIONS
- 38. Agenda 1. Shortest blockchainintro ever 2. A high level view on distributed ledger technology 3. Capita selecta : smart contracts 4. Capita selecta : which blockchain? 5. Closing thoughts
- 39. 1. Blockchain strategyis about collaboration. 2. Not just IT, also business is involved (risk appetite). 3. Unpredictable reactions of regulator & Government. 4. Financial signals (ROI) are problematic. 5. Radical uncertainty is the norm.
- 40. We The financial systemrelies on trust & data. Blockchain is trust & data.
- 41. While I catchmy breath now, some people have to catch their breath all their life. With public speaking, I raise bitcoin to support improving the daily lives of people with cystic fibrosis. Open your BTC wallet on your smartphone, scan this code. Or use 1JmSPfvJ751BYi7TVD8xXqWzPpGXqrW9Fj as recipient. Proceeds go to Muco vzw (www.muco.be) Thank you for your support and appreciation. More info, questions or remarks? [email protected] Twitter : @IthronKoen Distributed Ledger Technology Adviser @ KBC Bank & Insurance