Part of a workshop session during the Harvard Business School Digital Initiative run by Patrick Murck of the Berjamn Center for Internet and Society at Harvard University

1. T H E B L O C K C H A I N
O P P O R T U N I T Y
PA T R I C K M U R C K | | B E R K M A N C E N T E R

2. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
Digital assets => value
Blockchain ledgers => data
Smart contracts => code

3. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
B A S E S E T T L E M E N T L AY E R
By keeping things basic at the
settlement layer you preserve
extensibility and optionality for
applications and services layered
on top.

4. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
B A S E S E T T L E M E N T L AY E R
Building up from a gross settlement
platform allows you to recombine familiar
transactional elements in new ways:
• Identity and reputation
• Transaction fees
• Escrow and conditions for payment
• Property rights
• Dispute resolution and mediation
Delivered just in time, just what you need

5. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
Bitcoin is an electronic transaction network
designed to settle payment obligations
like physical cash transactions -
quickly, securely and with finality.
B I T C O I N I M P L E M E N TAT I O N

6. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
PAY M E N T S U N B U N D L E D
Bitcoin Protocol (v 0.10.1)
Exchange
Services
Security &
Storage
Consumer
Services
Merchant
Services
Mining
Embedded
Transactions
Collateralized
Networks
Conditional
Payments
Wave 2
Infrastructure
Wave 1
Pioneers
Wave 3
Innovation

7. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
M A R K E T P L A C E U N B U N D L E D
Blockchains Keychains
Oracles Ratings

8. T H E B L O C K C H A I N O P P O R T U N I T Y | | PA T R I C K M U R C K
What new markets can we build with open and
interoperable settlement platforms?
F U T U R E I M P L E M E N TAT I O N S

9. T H A N K Y O U !
PA T R I C K M U R C K | @ V I R T U A L LY L A W | P M U R C K @ C Y B E R . L A W. H A R VA R D . E D U