Blockchain - Deep Dive

Blockchain - Deep Dive

• 1.
  Blockchain: Deep Diveand Business Opportunities Sharath Kondapalli & Vinod Mehra @Smartmind: 04 Oct 2017 Smartmind Webinar Series
• 2.
  Introduction of Speakers ∙VinodMehra ∙Sharath Kondapalli • Partner Smartmind • Co-Founder, Director@Vicisoft Technologies • Over two decades of experience in Technology & Business with 11 years in GCC • Partner Smartmind • Director and Founder @ Neev Consultancy • President SmartLife – NGO • Over 25 years of experience in IT Sales, Marketing & Leadership
• 3.
  What is Smartmind A network of technology professionals.  In the GCC region in senior positions in the industry for decades.  Deep awareness of the cultural &business environment and has a wide array of contacts across the region. Smartmind Credo  Focused on Innovation technologies  Evangelize the technologies in the marketplace by being the thought leaders  Identify and work with select core technology vendors  Leverage the power of networking Smartmind Engagement Model  Offer retainer based engagement options for providing Market Intelligence, Advisory, Channel engagement & lead generation  Provide specific opportunities for marketing & promotion through focused events & webinars  Offer revenue-share based engagements for closures and project facilitation 3 Smartmind - Overview
• 4.
  Blockchain Background  Someinteresting trivia  How Blockchain Works  Typical Use Cases of Blockchain 4 Blockchain Business Opportunity  Key Business Value Drivers  Local Market Opportunities (GCC)  Local Market Landscape Current Webinar Agenda Trends and references  SmartMind View  Links for further reference  Agenda for next Smartmind Webinar
• 5.
  USD 23,000,000 That’s aserious amount of money, is n’t it? 5
• 6.
  23,000,000$ Is what yourinvestment would be worth now For an investment of just AED100 in Bitcoins in 2009 That’s a whole convoy of buses we missed  6
• 7.
  This is muchmore than a paradigm shift ! More like a tectonic shift!!! 7 Apr 2011: 1 BTC=1$ Dec 2013: 1 BTC=$650-800$ Sep 2016 1 BTC = $630 2009: 5000 bit coins For $27 or AED 100 Apr 2014: 1 BTC=$340-$430 Dec 2012: 1 BTC=13$ June 2013: 1 BTC=100$ Aug 2017 1 BTC=$4,600 2015 1 BTC=$300- 500 Jan 2017: 1 BTC=$800-$1150 Bitcoin Value History in comparison to US$: Source Wikipedia
• 8.
  Blockchain Is the underlying technologybehind Bitcoin with multiple disruptive and transformative use cases!!! The curious case of Satoshi Nakamoto 8
• 9.
  Blockchain – Howit works?:Underlying Principles Distributed Database Each party on a blockchain has access to the entire database and its complete history. No single party controls the data or the information. Decentralization of data storage and governance as opposed to Centralization 9 Peer to Peer Communication Direct communication of data between peers with each node storing & forwarding data No central node brokering or controlling the data transfer Transparency with Pseudonymity Transaction and its associated value visible to all users with access. Each node/user has a unique address for identification. Users have choice to determine whether to remain anonymous or provide proof of identity Record Irreversibility Once record is transmitted and accounts updated, not reversible as there is a linked ‘chain’ of blocks. Advanced algorithms used to ensure permanency, chronological order and availability Computational Logic Ledger of transactions fully digital, supporting tying of blockchain transactions to computational logic. Algorithms and rules can be set up to automatically trigger specific transactions between specific nodes Blockchain technology is also referred to as Distributed Ledger Technology (DLT)
• 10.
  Want big impact? Usebig image. 10 Blockchain – How it works?: An infographic Source: Financial Times
• 11.
  Sample Use Casesfor user of Blockchain BFSI related Use Cases Public Sector Use Cases Other Use Cases Payment Settlements (RTGS/Interbank Payments/Remittances) Birth & Death Registries/Certificates KYC Documents for individuals Insurance Claims processing; Trade Finance; Loan Syndication Company Registrations/Licenses Supply chain Cargo tracking (flowers example for smart contracts) P2P Lending; Crowd Funding Property Registrations/Transfers Patient Health Records 11
• 12.
  Business Opportunities
• 13.
  Business Value Driverswith Blockchain Blockchain characteristic Business Value Driver Sample Use Cases Distributed Ledgers: No central node; decentralization Disintermediation saving up huge transaction costs Banking: Direct settlements without VISA/MASTER/SWIFT Can support more complex value networks than normal Reduction in transaction costs and other sources of friction in business networks Large retailers can carry much larger number of vendors. Walmart Vs Amazon Vs eBay Smart Contracts Reduction in business operation complexity Several government services could be delivered at less cost 13
• 14.
  Opportunities in UAE:Dubai Blockchain Strategy Industry Creation Government Efficiency International Leadership 14 The three pillars of Dubai Blockchain Strategy Paperless digital layer for Visa Apps, Bill Payments , License renewals Pre- approved visa, security clearance Driver licenses & car rentals for travellers Environment for private opportunities: real estate, fintech, banking, healthcare
• 15.
   World BlockchainSummit 2017 in Dubai: Oct 24-25 2017  Ripple, a San Francisco based Blockchain Technology company focused on Banking Sector enters Saudi Arabia  Blockchain Challenge competition from Smart Dubai Office (SDO)  The Global Blockchain Council established by Dubai Museum of the Future Foundation  Bahrain based ABC Bank joined R3 consortium; Bahrain announced intent to be pioneer in the region with crypto based digital currencies 15 Blockchain: Other key developments in GCC
• 16.
  IBM Blockchain Strong inroadsinto Government in the whole region. Recently announced a Blockchain initiative with Dubai Customs, Dubai Trade, advancing Dubai’s government Blockchain strategy. As part of the initiative, IBM is also working with leading businesses including Emirates NBD, du, Aramex, and Banco Santander. Consensys Seems like a decent Blockchain technology based service provider. Has presence in US, Europe and Dubai!!! Part of the Future Accelerators program from Dubai Holdings Block Gemini A Dubai based Blockchain focused Products and Services company 16 Multiple Startups Bit Oasis, Loyyal etc, Market Landscape and potential opportunities
• 17.
   Blockchain isexpected to be a ‘generational disruptive force’ with potential to touch economic, social and political spheres!!!  If your application is nearing end-of-life, consider rearchitecting based on Blockchain technology concepts  The Blockchain wave could completely disrupt auditing industry with software replacing auditors!!!  Borderless nations; participative democracy in place of representative democracy become a possibility 17 Blockchain: The SmartMind View
• 18.
  1. Don Tapscott:A thought leader and author of several books on Technology & Business. Co-Authored Blockchain Revolution with his son Alex Tapscott. Check www.dontapscott.com 2. R3: An enterprise software firm working with leading Banks and regulators of the world in building a blockchain based platform. www.r3.com 3. History of Blockchain https://www.youtube.com/watch?v=7Y3fWXA6d5k 18 Blockchain: Resources for further information
• 19.
  For information, contact ∙Sharath Kondapalli [email protected] +971 50 9441468 ∙ Vinod Mehra [email protected] +971 50 6343120 19