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 Blockchain Overview: Possibilities and Issues

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Slides for the opening panel discussion given at the Blockchain National Forum, San Jose, CA., August 6, 2018, by Bohyun Kim - https://ischoolblogs.sjsu.edu/blockchains/national-forum/

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 Blockchain Overview: Possibilities and Issues

  1. 1. Blockchain Overview: Possibilities and Issues Bohyun Kim CTO, University of Rhode Island Libraries & President, LITA (Library and InformationTechnology Association) Blockchain National Forum, San Jose, CA., August 6, 2018
  2. 2. What Blockchain Accomplishes • Authenticity and security of records • Blockchain is a type of distributed digital ledger on a peer-to-peer (P2P) network, in which records are confirmed and encrypted. • Blockchain records and keeps data in their original state in a secure and tamper-proof manner by its technical implementation alone. • For those familiar with a version control system such as Git, a blockchain ledger can be thought of as something similar to a P2P hosted git repository that allows sequential commits only. Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  3. 3. Areas of Application • Electronic health records • Educational records • Certification / License records • Supply chain management • Digital provenance • Historic materials that may be contested or challenged due to the vested interests of certain groups, and • Digital rights management, • Digital identity (authentication/authorization) • Smart contracts (=self-executing programs on the blockchain platform) Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  4. 4. Disruptive Potential of Blockchain • A third-party authority no longer necessary to guarantee the authenticity of the data • Time and cost savings gained from eliminating a third-party authority and related processes and fees • Efficiency, convenience, and cost savings Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  5. 5. Issues a) Interoperability between different blockchain systems, b) Scalability of blockchain at a global scale with large amount of data, c) Potential security issues such as the 51% attack, d) Huge energy consumption that a blockchain requires to add a block to a ledger, which has both environmental and economic ramifications. Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  6. 6. Challenges forWiderTesting/Adoption • Lack of general understanding about blockchain in a larger audience of information professionals. • Technical obstacle for those not tech-savvy to set up a node in the blockchain network to test it out. • Lack of compelling use cases for libraries, archives, and museums. Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  7. 7. Questionss to Ask for Compelling Use Cases a) What kind of data/records (or the series thereof) must be stored and preserved exactly the way they were created? b) What kind of information is at great risk to be altered and compromised by changing circumstances? c) What type of interactions may need to take place between such data/records and their users? d) How much would be a reasonable cost for implementation? Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  8. 8. More Information & Examples • Bohyun Kim, “Blockchain: Merits, Issues, and Suggestions for Compelling Use Cases,” ACRLTechConnect Blog, https://acrl.ala.org/techconnect/post/blockchain-merits-issues-and- suggestions-for-compelling-use-cases/, July 24, 2018. • Bohyun Kim, “FromVirtual Reality to Blockchain: Current and EmergingTechTrends,” LibraryLinkNJWebinar, https://www.slideshare.net/bohyunkim/from-virtual-reality-to- blockchain-current-and-emerging-tech-trends (Slides), May 8, 2018. Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.
  9. 9. Thank you! Bohyun Kim, " Blockchain Overview: Possibilities and Issues," National Blockchain Forum, 08/06/2018.

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