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[DevDay 2017] Blockchain: Key factor for the next Internet revolution - Speaker: Hoang Phan - Blockchain Team Leader at BAP

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Blockchain - a keyword that has been widely mentioned by the technology world in recent years, however, seems not to be popular in Vietnam. Moreover, for those who ever know about Blockchain, this technology is only considered as a factor behind the success of Bitcoin. So what is Blockchain? Why could it be a key factor for the next Internet revolution?

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[DevDay 2017] Blockchain: Key factor for the next Internet revolution - Speaker: Hoang Phan - Blockchain Team Leader at BAP

  1. 1. Blockchain Key factor for the next Internet Revolution? 1
  2. 2. Outlines • What is Blockchain? • Why does Blockchain matter? • How does Blockchain work? • Blockchain applications • The future of Blockchain • Q/A 2
  3. 3. 3
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  8. 8. Centralized model 8
  9. 9. 9
  10. 10. Distributed model 10
  11. 11. 11
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  13. 13. What makes Bitcoin special? • No middle man • Low fee (0.01 – 3% depends on the complexity of transactions) • Fast transfer regardless geographical location (<2 mins) • Tamper resistance • Easy to use 13
  14. 14. How does Bitcoin work? 14 Sender Receiver Amount David Emily 2.80 Mike Eric 10 Paul Linda 230.45 Emily Peter 1.5 Jack Daniel 40 Sender Receiver Amount 1H2gerYXjFkz12zjyCG9mL… 19r2mNj3hZvUjMg86B17… 2.80 1BHx4YkisLZSHdL9RWvP3… 17ZfFuRpTkviPQPxkt6XV… 10 1CVhFtnwpH2jr1UfCB1Tpi… 1NBRguGaBSxZKsbY5QcT… 230.45 1FcjhgxhTHJ2M1hwJUSYx… 1MKKWPbsXTJUFMcgXt… 1.5 1Ck3heTaGTCeYHcB9P2R3… 1NuTP6fzd1cU9GAa5Nps… 40
  15. 15. 0 1 2 Bitcoin security paradigm 15 +25 Average block time: 10 mins Miner Miner Miner Blockchain
  16. 16. Attack attempts in Bitcoin network 16 0 1 2 4 5 6 0 1 2 3* 4* 5* 6*
  17. 17. 51% attacks 17
  18. 18. Hash rate of Bitcoin network 18
  19. 19. 19 Hacker Miner What should I be?
  20. 20. Solo-mining on a normal PC 1-100 Mhash/s ~ 1/40,000,000,000,000 ~1360 years!!! 20
  21. 21. Bitcoin statistics • 1 BTC ~ $1200 • Current total supply: 16.7 Million BTC • Market cap: >$19 Billion • No. of blocks: >460,000 blocks • No. of transactions per day: 250,000 – 300,000 • Transaction Volume per day: $200 – $500 Million *Statistics recorded in April 2017 21
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  23. 23. Current well-known Blockchain applications 23
  24. 24. 24
  25. 25. Smart contracts 25
  26. 26. Smart contracts characteristics 26 Smart Contracts Autonomous execution Transparent Auditible Secure – Immutable
  27. 27. Smart contract propagation 27
  28. 28. 28 Solidity
  29. 29. DAO – Decentralized Autonomous Organization 29
  30. 30. 30
  31. 31. Investments in Blockchain 2.13 95.05 362.53 488.08 160.7 0 100 200 300 400 500 600 2012 2013 2014 2015 2016 Venture Capital Investments in Bitcoin and Blockchain Companies from 2012 - 2016 31
  32. 32. But Blockchain may fail to become a real hit • Still an immature tech • Difficult to implement • Developers are still biased towards conventional models • A jobkiller • Not really user-friendly at the first stage • Environment may hurt in Blockchain era • Need to have a real support community 32
  33. 33. Blockchain in the next Revolution 33 Blockchain AI Big Data IoT Mobility
  34. 34. Internet Form in Blockchain era 34 Before 2005 Today 2025 and beyond
  35. 35. Want to start working with Blockchain? • Make transactions with crypto-coins (Bitcoin, Ethereum, etc.) • Create new crypto-coins (for fun) • Play around with Test-net Ethereum smart contracts • Get your hands dirty with Blockchain-as-a-Service from providers such as IBM, Azure 35 Or join us at BAP IT CO., LTD by send your CV to recruit@bap.jp!
  36. 36. Q/A 36
  37. 37. Thank you for listening! 37
  38. 38. Contact Phan Duy Hoàng Blockchain Leader at BAP IT CO., LTD hoangpd@bap.jp or blockchain@bap.jp https://www.linkedin.com/in/hoanghs13/ https://bap.jp 38

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