Blockchain for entreprenuers
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Presentation done at Blockchain Sri Lanka Forum 2017 at Cinnamon Grand organized by BPOS Global Sri Lanka
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Blockchain for entreprenuers
- 1. Blockchain for Entrepreneurs Champike Munasinghe Blockchain Sri Lanka Forum 2018
- 2. Galaxy Digital, Cryptocurrency Bank is listed in Toronto Stock Exchange Financial services giant Northern Trust managing over US$ 10.7 Trillion Assets has significantly expanded its work with Blockchain and Cryptocurrencies across multiple divisions. The Japanese money transfer giant SBI Remit is now letting nearly half a million customers send money to Africa using the bitcoin blockchain. 2018 H1 – Binance makes US$200 Million profit while Deutsche Bank makes US$ 146 Million in the same period. Binance was in operation for less than an year.
- 3. Global market for Blockchain Services is expected to be worth over US$ 60 Billion by 2024 Cryptocurrency Development Mainstream Blockchain Applications Initial Currency Offerings Mining, Apps, Exchanges, Payment Gateways, Analytics Feasibility, Infrastructure, Development, Marketing, Delivery, Compliance
- 4. Where to start? Public or Private Blockchain Value Store Transfer Bitcoin Litecoin Ripple OwnValue Creation Smart Contracts Ethereum Scalability Vs Energy Inherent Vulnerabilities, 51% attack
- 6. Potential Opportunities • Gemstones & Organic Produce Origin Certification Sale Processing Value Addition CertificationExportEnduserResale
- 7. Secondary Education Professional Education Training Employment Human Resources Bachelors Masters PhD Postgrad Employer #1 Employer #n Employment Progress Smart Contracts Salaries, Promotions, Leave etc ..
- 8. Healthcare
- 9. Government/Real Estate Building Approval Process Blockplanapproval StreetLines NonVesting Bank BuildingPlanApproval Architect Utilities CoC HealthInspection TouristBoard ExciseDepartment InlandRevenue OwnershipTransfer LocalRevenueCol. Example process for a commercial development such as a Hotel.
- 11. Envion – Offgrid Blockchain Mining Raised US$ 100 Million within 30 days from December 2017 to January 2018 FTV Coin – Cryptocurrency for the Fashion Community for Lifestyle and glamour. Has raised around 60M Euro between May 2018 to July 2018, aims to raise over 100M Euros BAT – Brave Web Browser Raised US$ 35 Million in 30 seconds when the ICO was launched. Brave is a partnership between founders of Mozilla, JavaScript and Dow Jones Media. Prominent ICOs
- 12. Skill Development • Understanding underlying technology • Understanding “Tokenomics” • Blockchain Development • Mining Processes • Sustainability • Finance, Compliance, Regulatory and Admin • Marketing
Editor's Notes
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- News from around the world about developments in the blockchain domain. Blockchain and Cryptocurrency has been a niche market with 99% of the players in the market being Startups. However, that landscape is now changing with major established players making big investments in the Blockchain domain. Whilst all these are finance companies, IBM, being a major tech company is making big investmnets in Blockchain and is experimenting in many fronts.
- Major blockchain related services revenue will of course still be in Cryptocurrency and related development work. This of course excludes capital gains and fund raising done by Cryptocurrencies and ICOs. This is purely an estimate of the market size of the service industry around Blockchain technology.
- When you are thinking about developing blockchain skills or blockchain applications, you need to think what is best suited for you. For your specific application, what is best? Public or a Private blockchain?
- Being a high value local industry, Gemstones is an ideal platform for a Blockchain implementation. Authenticity of the product as well as the track record and the certification are of paramount importance in the industry and are the main pain points as well. Blockchain inherently can secure the track record as well as maintain the authenticity of origin and certification as blockchain is inherently resistant to retrospective modifications, to save time, I’ve combined this with another high value opportunity, that is certification of organic produce. If implemented properly, in both these case, the chain of custody and processing can be simply verified by an app on the users mobile phone.
- Education & HR is another great space where tamper proof authentic data is essential. With a blockchain implementation, not only the data can be secured and access can be controlled by the holder of the private keys, i.e. the student or candidate in question, authorized institutions or employers would be able to make permanent and unmodifiable records to the blockchain record. In this example, I’ve made this slightly complicated with a main blockchain running in parallel with a number of “Sidechains” that will carry a separate stream of data.
- Example for a total patient record system, patient centric and controlled by the patient himself. Patient will be able to grant and revoke access to various parties and will always have a full health record at their disposal as well as at the disposal of healthcare providers, insurance companies and the patient can elect to let the data to be used for research purposes.
- Whilst ICO is a topic that would require a separate conference to cover in detail, I’d like to highlight the size of the ICO market, which is around $21 Billion todate, with H1 2018 already surpassing the total funds raised in all previous years. Development of the skills required, such as smart contract development, security, wallets, hold/cold vault systems, marketing, PR and other related areas required for ICO will have significant demand in the years to come as this is just the start of a massive wave of ICO based fund raising.
- Developing the skills needed for Blockchain development is going to be a major industry. It is said there are over 15 opportunities per blockchain expert in todays world. Salaries in Europe for Blockchain specialists have grown over 1000% from 2015 to 2018. Training and certification of Blockchain experts is a major industry and while it is a separate topic of its own, I’d like to highlight the need for sill development and certification of local resources as a major requirement.