20190316 - CLBFest - Blockchain is WTF - Gerrie Smits
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Gerrie Smits (https://gerriesmits.com) kicked off the event explaining (a) the basics of blockchain (a.o. immutability, "if... then...", value transfer, tokenisation and token transfer, decentralisation, game theory and aligned incentives) and (b) looking at it from a business perspective ("Is This Something For Us?") >> with practical examples of (actual) use cases like a local blockchain to follow the support money granted to refugees, fractional ownership of real estate, incentives to cycle to school, "selling your eyeballs" (advertising),... >> through the value mapping framework, which brings innovation (value) theory and design thinking in the picture To conclude he launched a specific point of interest, namely ORGANISATIONAL DESIGN. Starting from the question whether the "tragedy of the commons" can be overcome (looking at theories of a.o. Elinor Ostrom - https://en.wikipedia.org/wiki/Elinor_Ostrom), he looks at initiatives that may address this by using blockchain technology: Colony (https://colony.io/index.html), Aragon https://aragon.org/), OrgTech (https://orgtech.substack.com/),... This is material for a hack(athlon). The title of his keynote refers to the title of the book he wrote (in Dutch) which is packed with use cases: https://gerriesmits.com/blockchain-is-wtf-boek/ The context was the second (2019) edition of the Computational Law and Blockchain Festival (#CLBFest), Brussels' node.
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20190316 - CLBFest - Blockchain is WTF - Gerrie Smits
- 1. @gerriesmits x @LegalHackersBXL 16/03/19 BLOCKCHAIN IS WTF**Waarschijnlijk Toch Fundamenteel * Wondrous and Totally Fundamental
- 3. I’m Gerrie Smits, CCO My drive = Making sense ofthe impact of ‘digital’ #strategist #workshop-facilitator #consultant #concept-dude #speaker #asker-of-questions #listener #program-designer #view-from-the-outside
- 4. Some organisations I worked with/for
- 5. Words I use (too) often: #1: User “If everyone has their face toward the CEO, they have their ass toward the customer.” - Jack Welch ex-CEO General Electric
- 6. wtf Words I use (too) often: #2: Blockchain
- 7. Accelerate blockchain-thinkingmission WTF is blockchain? Ok, so it’s wtf Holy shit, it’s WTF
- 8. 3 stepstoday 2. Blockchain, ITSFU? 1. WTF is Blockchain & what are the building blocks? 3. Something to think about: organisation design
- 14. CAAS = Consensus as a softwareaka
- 15. Immutable history Cryptographic blocks + chains aka Distributed network of computers
- 16. I’m going to sea & I take with me
- 17. • Hypnose Forget all the tech sizzleO-O
- 18. #1 Blockchain = verification machine Immutability/Traceability
- 19. WTF Once upon a time Immutability/ Traceability
- 20. °-° Coins, coins, who wants coins?
- 21. #2 Set conditions, in stone Programmability Immutability/Traceability
- 22. And then came Vitalik Buterinβ While the Bitcoin protocol is more than adequate for currency (…) there are fundamental limitations that make it non- viable for anything beyond a certain very limited scope of features. “ “
- 23. #1ifttt IF THEN ABSOLUTELY = 35 yrs Programming language, for business logic
- 24. IF Insurance not paid THEN Stop the car e.g.
- 25. IF /paid/ THEN /unlock/ e.g.
- 26. Tools to create immutable business logicifttt Create rules Interaction with rules Guaranteed execution of rules
- 27. #3 Transfer of ‘something ofvalue’ Programmability Token > money Immutability/Traceability
- 28. Transaction of a diamondcase
- 29. Transaction of ‘Right to collect’case
- 32. case ‘Special use’ money
- 33. Public/Permissioned Programmability Token > money Immutability/Traceability Lots and lots of blockchains#4
- 34. Governance + privacy + performanceyeah but
- 35. >> Blockchain = also… A network of consensus-computers set up by a few parties that trust each other ‘enough’ to manage + govern the rules. Trust with a lower case ’t'
- 36. case KYC for banks requires lots of info Info 1 Info 2 Info 3 Info 4 Info 5 Info 6 Info 7 Info 8 Info 9 Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info … Info 103 Info 104 Info 105 Info 106
- 37. Toch gewoon een veilige database? ja maar Distributed netwerk of computers Cryptographic blocks + chains
- 38. Let’s play for real role
- 39. #5 Another key component Public/Permissioned Aligned Incentives Smart Contracts Token > Geld Onweerlegbaarheid/Traceerbaarheid
- 40. Decentral + immutablewtf Distributed netwerk of computers Game theory + incentives Cryptographic blocks + chains
- 41. Blockchain = alsowtf Verification machine Trust machine Incentive machine (via crypto-tokens) Immutable rules machine
- 42. vvv Programmability Token > Money Immutability/Traceability Public/Permissioned Aligned Incentives Blockchain as a ‘trust machine’
- 43. Blockchain, ITSFU* wtf * Is that something for us?
- 44. CHEAPER! FASTER! LESS FRAUD! MORE TRANSPARANCY! yay Some benefits
- 45. Bank time: 3 hours > 25 minutes Smart Contracts Token > Money Immutability + Traceability Permissioned Incentives roi
- 46. roi 98% reduction in bank fees Smart Contracts Token > Money Immutability + Traceability Permissioned Incentives
- 47. Cost of electricity: -23%case Smart Contracts Token > Money Immutability + Traceability Public Incentives
- 48. More trust, more donations?usp
- 49. case Trading a fraction of ownership Smart Contracts Token > Money Immutability + Traceability Permissioned Incentives
- 50. case IF /good behaviour/, THEN /coin/ Smart Contracts Token > Money Immutability + Traceability Permissioned Incentives
- 51. case Digital moneywith conditions Smart Contracts Token > Money Immutability + Traceability Permissioned Incentives
- 52. Token as warranty case Smart Contracts Token > Money Immutability + Traceability Public Incentives
- 53. Advertising what if Smart Contracts Token > Money Immutability + Traceability Public Incentives
- 54. This works (at small scale)real
- 55. Decentralised financereal Smart Contracts Token > Money Immutability + Traceability Public Incentives
- 57. tools Find friction/opportunity areas
- 58. How can we use blockchain components to fix the trust issues, friction points, user needs? ex Design Thinking + Blockchain Smart Contracts Tokenisation Immutability Oracle Immutability Public/Permissioned Incentives Opportunity Spotting
- 60. so The worries of an entrepreneur
- 61. Trust in (internal) business°-°
- 62. so Programmability Token > Money Immutability/Traceability Public/Permissioned Aligned Incentives How about these blocks?
- 63. A little thought experiment°-°
- 65. Token economy networks, where stakeholder create value together →
- 66. New definitions of ‘business’wtf Business = creating value (through work), selling or trading it to customers capturing some of that value as profit. Decentralised tokenised network = foster the creation ofvalue (through distributed work) let it be used, sold or traded allocate the value that would otherwise be captured (via issuance, rewards, penalties and whatsoever).
- 68. IF /added value/, THEN /reward/dao
- 72. coin What if a token = The right to ask for help. To vote. To challenge. Reputation. Proof that you did a certain task The right to claim a share of a pot of money
- 75. Afewtake-aways
- 76. +++ Lots of modules = lots of cases Public/Permissioned Aligned Incentives Smart Contracts Tokenisation Immutability
- 77. but Find more questions! LegalSociological Go-to-market user-friendly Taxes Technology macro-economic Ecological
- 78. Get involvedergo All of us have to think, question, build, get ripped off, be confused AND start
- 79. Discount = 0,003 Ether (for 250 fast wallet-owners) FREE
- 80. 1/3 IF /valuable foryou/ THEN /return the favour/ Buy a book Tip me, in crypto ;-) Introduce me to 1 person you think should know me
- 81. ENJOYTHE RIDE >> TIPS ONLYIN CRYPTO gerrie@gerriesmits.com +32 491 354 365 @gerriesmits Bitcoin Ether