Sustainability with blockchain
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The presentation outlines how blockchain can be used to achieve some of the United Nations Sustainability Goals.
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Sustainability with blockchain
- 1. SUSTAINABLE DEVELOPMENT powered by blockchain technology 66% Sisriksha Bhaumik, Alex Torres, Vicente Parra, Jingheng Zhang, Yutong Fan, Joanne Yang
- 2. United Nations Sustainability Goals
- 3. Introduction to Blockchain ● Blockchain is here to stay ● Absence of integrity; need for solution ● Bitcoin requires the Blockchain mechanism ● Blockchain is versatile; can be used by many industries
- 4. Blockchain Basics: Coding Trust
- 7. Problem: Identities Today are siloed & insecure
- 9. Advantages
- 10. Challenges ► Blockchain can not be viable without a big enough ecosystem ► Not mature enough where it applies to every sector ► Can not revolutionize business and redefine companies immediately ► Blockchain is not plug and play ► Application and blockchain layer needs to be bridged ► Requires permissioned ledgers for identity management (when a new record is added, the ledger’s integrity is checked by a limited consensus process. This is carried out by trusted actors and makes the consensus process much simpler than unpermissioned ledgers.) Each node within the blockchain has a copy of the identity ledger.
- 12. Problem “Foodborne contamination causes 48M Americans fall ill, 128,000 hospitalization, 3000 deaths every year.” - CDC Spinach Outbreak (2006) - 199 Cases, 3 Death, 26 States Peanut Corporation America (2008) - FDA recalled 3913 different products from over 350 companies. - 5 Death, Hundreds got sick
- 13. Problem Case: Mid-day meal scheme, India
- 14. During an outbreak, 6 days is an eternity Solution Traditional Traceback: V.S. Blockchain Traceback: 6 days, 18 hours, 26 minutes 2.2 Seconds
- 15. Solution Conventional Traceback Blockchain Traceback
- 16. Advantages ● Increase transparency ● Avoid human health and life loss ● Avoid food waste ● Raise consumer trust in food industry
- 17. Water Management
- 18. Problem 1 : Water Quality 2.1% – 6.3% children affected switching back costs = 12 million USD 2011 - $1.1 billion pension costs 2015 (Oct) – Government bought filters 2016 – Media attention
- 19. Solution 1 : Water Quality
- 20. Problem 2 : Water Scarcity & Sharing 2025 1.8 billion people 66.67 % world population
- 21. Problem 2 : Water Scarcity & Sharing Cauvery River Basin, India
- 22. Solution 2 : Water Scarcity & Sharing
- 24. Problem: Traditional electricity supply
- 25. Solution: P2P supply (microgrids)
- 26. Land Ownership
- 27. Problem - Land Registry ● Unclear ownership + Poor documentation → Property Fraud / Corruption → change database → steal properties ● Expensive land record maintaining ● Dishonest record of mortgages → 2008 Financial Crisis “People just losing properties because of someone changing records in a database,” - Valery Vavilov, CEO of blockchain startup BitFury.”
- 28. Solution
- 29. ownerbuyer smart contract property Unique Digital Fingerprint: hashSolution
- 30. Advantages Effective Property Management Transparency Cost - Public Transactions - Digital Trust Safety - Untamperable - Difficult to forge records - Labor Cost - Access Cost Efficiency - No middlemen - No paperwork → Speed up registration
- 32. Adoptions Track the ownership of property Cooperate with Startups Conflicts between government & tribes Radically transparent access: back end + front end India Wealthy country with well- developed land registries Already highly digitized Saving $106 million - no paperwork - transaction speed - reduce fraud Sweden
- 34. Problem – Raising Capital & Micro-finance ● Large overhead and operating costs ● High fees to compensate for heavy operating costs ● Slow transaction resolution ● Potential for corruption ● Centralized structures move slowly “Microfinance has become a socially acceptable mechanism for extracting wealth and resources from poor people,” Jason Hickel, professor London School of Microeconomics
- 35. Colombia Costa Rica Intermediary Issues $100 $85 Processing Fees ● Microfinance loans create debt based on complex schemes ● Small and medium sized businesses find they are under-capitalized
- 36. Solution: Blockchain Financial Services Quick and easy money transfers between A and B No commission foreign currency exchange Transaction on the blockchain All transactions are transparent No standing in line or waiting for transaction No risk of counterfeit bank notes Raise capital, fund business, purchase goods
- 37. Advantages - Blockchain Enables
- 38. Challenges ● Decide governance, Internal controls, procedures ● Addressing errors and conflicts; settlement of transactions ● Identity verification of funding participants ● Asset representation ● Tokenizing issues
- 39. Future Challenges Technology Regulatory - immaturity - reliability - scalability - security Payment - Digital Transformation - Different countries - Different laws Solution for a nonproblem - skepticism over eventual business cases
- 40. References ● https://venturebeat.com/2017/02/25/how-blockchains-could-save-us-from-another-flint-like- contamination-crisis/ ● http://www.un.org/waterforlifedecade/scarcity.shtml ● http://indianexpress.com/article/explained/cauvery-verdict-today-what-is-this-dispute-5065922/ ● http://www.wired.co.uk/article/microgrids-wired-energy ● https://www.coindesk.com/andhra-pradesh-partners-with-chromaway-to-develop-blockchain-land- registry/ ● http://www.osborneclarke.com/insights/blockchain-and-land-registries-records-of-the-future/ ● https://www.ubitquity.io/web/index.html ● https://www.fastcompany.com/40449268/will-blockchain-revolutionize-global-real-estate-next ● https://qz.com/947064/sweden-is-turning-a-blockchain-powered-land-registry-into-a-reality/ ● https://www.civic.com ● https://blog.everex.io/problems-with-microlending-and-how-blockchain-solves-them-1582f98e2a7c ● https://www.forbes.com/sites/nikolaikuznetsov/2017/07/24/how-emerging-markets-and-blockchain- can-bring-an-end-to-poverty/#4d3484fa4a0c ● https://www.everex.io/
- 41. Thank You!
Editor's Notes
- Stop property fraud
- Jingheng Zhang Identity Management is the first step of further solving the economic problems. We will talk about raising capital and micro-finance which are highly related to our ground work, identity management. Without identity management associated with blockchain, we can never buildup the trust in economic development, because we need to know who are we dealing with, if their money is clear or not, if they are fraud or not.
- Jingheng Zhang- These are some of the problems, identities today are completely isolated and they are all insecure. Your data is stored with all these different authorities. Each and every one of them is acceptable to like to be hacked and for your data to be stolen. And when they have your data, it is outdated very quickly. For government, this siloed storage is inefficient. Separate databases make it difficult to share information and result in duplication, overlap and contradiction in the information held. As Victoria Thorpe, Manager at Accenture, argues, centralised identity management means “an accurate view of someone’s identity is very difficult”. For company, they might face cyberattacks, such as uber and equifax data breach, because of the insecure centralized data storage. For users, ….
- Jingheng Zhang- We can solve this with self sovereign (sov-er-in) identity. So using blockchain now, we can create secure cost-effective and interoperable identity systems. And what they really do is, they give the identity and all of the personal data back to the user. So the users in complete control of their personal data. We can now attest different pieces of that information to our identity in the blockchain, so we can choose what gets attached to the system. Third parties can verify a users information if data is true. Also user can selectively permits who gets access to data. So for example, if your insurance comes to ask access to this data, and you as a user with sovereign identity get to choose if you want to provide that access or not. And the last thing is the data only needs to be verified a single time. And this is something cool, sort of one of the use case that i get to that could be solved is a cryptocurrency exchanges. I am sure if you have been in the space for a while. Most of you have an account with one of the centralized exchanges, maybe coinbase, Poloniex. For each one of them, If you have two accounts, you probably went through a signup process where you again uploaded all of your kyc information, your passport and they have all that data but just that repetitiveness of going through that process with each provider waiting one week or two for a verification email. All that falls away because now you hold the data, and you choose to share. so just from use case perspective, thats something we can solve.
- Jingheng Zhang
- Permissioned ledgers: these ledgers may have one or many owners. When a new record is added, the ledger’s integrity is checked by a limited consensus process. This is carried out by trusted actors and makes the consensus process much simpler than unpermissioned ledgers. A permissioned ledger is usually faster than an unpermissioned one.
- https://venturebeat.com/2017/02/25/how-blockchains-could-save-us-from-another-flint-like-contamination-crisis/ Blockchain – decentralized, immutable
- http://www.un.org/waterforlifedecade/scarcity.shtml
- http://indianexpress.com/article/explained/cauvery-verdict-today-what-is-this-dispute-5065922/
- http://www.wired.co.uk/article/microgrids-wired-energy
- Stop property fraud
- Stop property fraud