Einmal im Monat ist TECHtalk Zeit! First come first served!
< OMM Solutions GmbH > 2
Talk: Smart Contracts - Can you digitize trust?
Speaker: Olaf Horstmann
3< OMM Solutions GmbH >
Basic Blockchain
4< OMM Solutions GmbH >
e.g. Bitcoin
Block
1
Block
2
Block
3
Block
n
…
$ / i
Hash from last block
$ / i
• verifies Transactions
• “builds” Block
28.06.2017
Blockchain with Compute-Capabilities
5< OMM Solutions GmbH >
e.g. Ethereum
Block
1
Block
2
Block
3
Block
n
…
$ / i / <>
Hash from last block
$ / i / <>
$ / i /
<>
• verifies Transactions
• executes Code (Smart Contracts)
• bundles additional Transactions
initiated by SCs
• “builds” Block
$ / i /
<>
$ / i /
<>
SC-execution
28.06.2017
Example: Betting-Contract
6< OMM Solutions GmbH >
0x90c63c3d1110Ea49….
Bookie publishes betting-rates to a smart contract
Together with depositing an initial betting-pool
0x90c63c3d1110Ea49….
Gamblers look at the rates
Placed bets are automatically limited to what the pool
could pay out – this limit is adjusted with every bet
0x90c63c3d1110Ea49….
Some source of information
- “oracle(s)” - feeds the
results into the contract
The contract automatically
evaluates the payouts and
initiates the transactions
$ +
i
$ +
i
i
$i
28.06.2017
• “programmable number account”
• mediator of trust
• applications are mostly finance-related
• A tool for automated/event-based...
• decentralized information evaluation
• transaction initiation
What a smart Contract is
< OMM Solutions GmbH > 828.06.2017
• Source of information
• Source of trust
• Simple to understand
• Error-Proof
• Written by humans
• Easy-To-Use
• As for the current state of the technology
What a Smart Contract NOT is…
< OMM Solutions GmbH > 928.06.2017
• Deposits
• When renting an appartment, a car, an expensive machine
• Allowance-Contracts
• e.g. for kids to allow them to spend X€ / week
• Investments in Companies
• no need for „manually“ run Stock-Markets
• Auctions
• the bid is done with sending money and the contract
will automatically refund the money or forward it to the
seller
• Betting, Gambling
Applications for consumers
< OMM Solutions GmbH > 1028.06.2017
• Monetary “rule-sets”
• e.g.: Transactions of >10000€ must be approved by 3
out of 5 authorized instances
• Automated execution of payments on certain
“events”
• e.g.: goods from a supplier arrive → worker confirms
the receipt on the blockchain → payment is initiated
Applications for Companies
< OMM Solutions GmbH > 1128.06.2017
• Insurace-claiming
• e.g.: drought-/flood-information provided by several
weather-stations could automatically trigger a payout
to insured farmers
• A verified doctor could issue information to the
blockchain, that automatically triggers a payout
• The government could issue a death-certificate to the
blockchain, that could automatically trigger the payout
of a life-insurance
Applications for Insurances
< OMM Solutions GmbH > 1228.06.2017
• replace any „manually“ initiated transaction
Applications in Banking
< OMM Solutions GmbH > 1328.06.2017
• Applications
• digital currency
• Identification
• Smart contracts for automated tax-calculation and
transactions
• Chances
• Almost everything could be automated
• Less fraud, less errors, better transparency
• Risks
• System could be abused by the few “in power” (but so
could other systems)
Applications in Government
< OMM Solutions GmbH > 1428.06.2017
• Public (current state)
• The Ethereum-Network is currently pretty much at its transaction-limit already
• Blockchain will grow very large very quickly → very difficult to maintain such
a node as an average user
• Closed
• Could decrease cost through automation
• If the technology is used at many companies → could decrease cost of
communication
• Easier to include additional “oracles” and contact-points than with a custom
system
• Widely used technology
• more developers
• less error-prone than a custom system
Public vs. Closed System
< OMM Solutions GmbH > 1528.06.2017
• Automated execution
• Save money & time
• Transactions are final
General Benefits
< OMM Solutions GmbH > 1628.06.2017
• Very young technology
• To really trust the contract, you would have to read AND
understand the source-code
• Contracts can be published without the source-code (you
should not blindly trust those)
• You still need to trust the “oracle”
• Even accidentally false information provided by an oracle
could cause irreversible transactions
• Who is liable for errors/bugs in an SC
General Drawbacks
< OMM Solutions GmbH > 1728.06.2017
Ihr persönlicher Ansprechpartner
Fragen oder Interesse?
< OMM Solutions GmbH > 20
Olaf Horstmann
Technology & Innovation
OMM Solutions GmbH
Vor dem Lauch 4
70567 Stuttgart
Germany
oh@omm-solutions.de
+49 (0)711 75 86 46 04
Ihre persönliche Checkliste…
21< OMM Solutions GmbH >
…zur Digitalisierung Ihrer Organisation
Machen Sie Digitalisierung zur Chefsache
Stellen Sie ein Digitalisierungsteam auf
Entwickeln Sie eine Digitalisierungsstrategie
Investieren Sie in die digitale Kompetenz Ihrer Mitarbeiter
Digitalisieren Sie Ihr Geschäftsmodell
Machen Sie aus Daten einen sinnvollen Business Case
Setzen Sie die neuesten Technologien ein
Entwickeln Sie digitale Lösungen gemeinsam mit Kunden und Partnern
Erweitern Sie Ihre Wettbewerbsbetrachtung um Tech-Unternehmen
Kooperieren Sie auch mit jungen Startups
Quelle:
https://www.bitkom.org/noindex/Publikationen/2016/Leitfaden/In-10-Schritten-digital/In-10-Schritten-digital-Praxisleitfaden.pdf
28.06.2017
22< OMM Solutions GmbH >
www.omm-solutions.de
OMM Solutions GmbH
Vor dem Lauch 4
70567 Stuttgart
Geschäftsführer
Martin Allmendinger
Malte Horstmann
Olaf Horstmann
Kontakt
Telefon: +49 711 6747 051-0
E-Mail: info@omm-solutions.de
Umsatzsteuer-ID: DE295716572
Sitz der Gesellschaft: Stuttgart
Amtsgericht Stuttgart, HRB 749562
Impressum