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Beyond Bitcoin: The Emergence of the Blockchain World


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InfinIT Future Briefings 1: Optimér supply chain management via blockchain

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Beyond Bitcoin: The Emergence of the Blockchain World

  2. 2. 2 Prof. Dr. Roman Beck | Professor IT University of Copenhagen | Rued Langgaards Vej 7 | DK-2300 Copenhagen S | Denmark | | | | phone +45 7218 5323 | skype roman-beck | twitter @roman_beck Lead Researcher | Head of Research Group Technology, Innovation Management & Entrepreneurship (TIME) | Head of European Blockchain Center | AIS Council Representative for Europe, Middle East, Africa | Head of Dansk Standard ISO TC 307 Blockchain & Distributed Ledger Technology Group | Senior Editor, The DATA BASE for Advances in Information Systems (DataBase) | Associate Editor, Business and Information Systems Engineering (BISE) | Editorial Board, Journal of Business Economics
  3. 3. 3 EVERYBODY IS TALKING ABOUT IT… Dr. Jens Weidmann, president of the Deutsche Bundesbank He compared cryptocurrencies with other useful innovations which have not made it into mainstream use
  4. 4. 4 Decentralization It operates without a central decision maker or hierarchy. Consensus It ensures agreement about the state of the blockchain and thus provides a single version of the truth. Validity It accepts new entries only if they adhere to a predefined protocol. Immutability It accepts new entries only if they build upon unmodified previous entries. Authentication It allows tracing back every entry to a private key. KEY CHARACTERISTICS OF BLOCKCHAIN WORLD
  5. 5. 5 Blockchain Economy Digital Economy Blockchain Economy Ownership and digital rights • Network as “nexus of contracts” • Ownership predominantly defined as private ownership by bi- and multilateral written agreements in form of contracts • Network as “nexus of smart contracts” • Ownership always defined as common ownership, through the tokenization of digital rights • The specification of ownership and digital rights needs to be organized in a decentral environment. Traceability and accountability • Defined in inter-personal as well as inter- and intra- organizational settings • Traceability and accountability in the network, delegated to the blockchain Incentives and mechanism design • Digital processes in hierarchies for value creation of digital goods • Incentive to create private goods and club goods • Digital processes in peer-to-peer exchanges for value creation of blockchain-based digital goods • Incentives to create club goods and public goods • New network-based processes which incentivize the peer-to-peer nodes to reach consensus THE BLOCKCHAIN ECONOMY
  6. 6. … record the quantity and transfer of assets as they move between supply chain nodes, … track purchase orders, change orders, receipts, shipment notifications, or other trade-related documents, … assign or verify certifications or certain properties of physical products, … link physical goods to serial numbers, bar codes, digital tags like RFID, etc., and … share information about manufacturing process, assembly, delivery, and maintenance of products with suppliers and vendors. 6 BLOCKCHAIN HAS THE POTENTIAL TO BECOME THE OPERATING SYSTEM OF THE SERVICE ECONOMY chain-management/ Blockchain solutions have the potential to become the “supply chain operating system” to…
  7. 7. BILL OF LADING – THE MAIN DOCUMENT OF INTERNATIONAL TRADE ON THE BLOCKCHAIN 7 • Three main purposes: • Act as cargo receipt • Act as evidence of the contract of carriage • Act as title to the cargo • The Bill of Lading process has many participants • Physical documents sent around by couriers • Can get lost • Do not make it through the process before goods arrive • Subject to fraud • Costly handling costs • Negative environmental impacts/CO2 footprint
  9. 9. CONTACT INFORMATION Prof. Dr. Roman Beck Lead Researcher Head of Research TIME Group Head of European Blockchain Center IT University of Copenhagen Rued Langgaards Vej 7 DK-2300 Copenhagen S, Denmark| phone +45 7218 5323 | twitter @roman_beck For further information please contact me! 9