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Blockchain beyond the hype - Trust, decentralisation and the future of business by Patrick Degenhardt


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Digital Marketing Summit Southampton 2018, Patrick Degenhardt, Southampton, #Dmsso18, #DMSSO, #DigitalMarketing @ConsenSys

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Blockchain beyond the hype - Trust, decentralisation and the future of business by Patrick Degenhardt

  1. 1. Digital Marketing Summit Southampton Patrick Degenhardt ConsenSys
  2. 2. Old Babylonian, 1750 BC British Museum artifact 131236 ® The Trustees of the British Museum
  3. 3. Tell Ea-nasir: Nanni sends the following message: When you came, you said to me as follows: “I will give Gimil-Sin (when he comes) fine quality copper ingots.” You left then but you did not do what you promised me. You put ingots which were not good before my messenger (Sit-Sin) and said: “If you want to take them, take them; if you do not want to take them, go away!” What do you take me for, that you treat somebody like me with such contempt? I have sent as messengers gentlemen like ourselves to collect the bag with my money (deposited with you) but you have treated me with contempt by sending them back to me empty-handed several times, and that through enemy territory. Is there anyone among the merchants who trade with Telmun who has treated me in this way? You alone treat my messenger with contempt! On account of that one (trifling) mina of silver which I owe(?) you, you feel free to speak in such a way, while I have given to the palace on your behalf 1,080 pounds of copper, and umi-abum has likewise given 1,080 pounds of copper, apart from what we both have had written on a sealed tablet to be kept in the temple of Samas. How have you treated me for that copper? You have withheld my money bag from me in enemy territory; it is now up to you to restore (my money) to me in full. Take cognizance that (from now on) I will not accept here any copper from you that is not of fine quality. I shall (from now on) select and take the ingots individually in my own yard, and I shall exercise against you my right of rejection because you have treated me with contempt.
  4. 4. Failed contracts Smart contracts
  5. 5. Ethereum runs smart contracts. Smart contracts are pieces of code that allow the Ethereum blockchain to immediately transport or move data without an intermediary. No central authority is required to run the code in a smart contract - the code runs based on the rules contained within it. The "rules" of a smart contract can be thought of as automatically initiated after the contract is activated.
  6. 6. Lehman Brothers bankruptcy 15 Sept 2008
  7. 7. Satoshi Nakamoto Bitcoin white paper 31 Oct 2008
  8. 8. Ethereum - Vitalik Buterin, Gavin Wood, Joseph Lubin First release 30 July 2015
  9. 9. ConsenSys Joseph Lubin Nov 2014
  10. 10. Why is decentralisation useful?
  11. 11. Decentralisation (politically and architecturally) allows blockchains to be: Less likely to fail because they rely on many separate components. Harder to attack because the networks are spread across many computers. Harder for users with malicious intent to take advantage of users who are using the platform for its intended purpose.
  12. 12. Organic structure ConsenSys Oct 2018
  13. 13. The Mesh: No organigram No boss Unparalleled autonomy Self organisation Accountability Decisions by consensus
  14. 14. Want to know more about blockchain?
  15. 15. Thank You!