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Blockchain Demystified for Business Intelligence Professionals


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Blockchain is a transformational technology with the potential to extend digital transformation beyond an organization and into the processes it shares with suppliers, customers, and partners.
What is blockchain? What can it do for my organization? How can your organisation manage a blockchain implementation? How does it work in Azure?
Join this session to learn about blockchain and see it in action. We will also discuss the use cases for blockchain, and whether it is here to stay.

Published in: Technology
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Blockchain Demystified for Business Intelligence Professionals

  1. 1. Data Relish Customers
  2. 2. What is blockchain?
  3. 3. What is Blockchain?  “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)
  4. 4. What is Blockchain?  Database problem  Can databases and blockchain live happily ever after?  By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet.  Bitcoin has been called “digital gold,”  To date, the total value of the currency is close to $9 billion US.
  5. 5. How did we get here?  Blockchain was introduced by Bitcoin  Response by technical community to Wall Street crash  Decentralized Control  Nobody owns the network  Immutability  Tamper Resistance  Create and transfer assets with no reliance on a central entity
  6. 6. How does blockchain work?
  7. 7. Maturing Technology  Applications  Decentralized blockchain computing platforms  Decentralized processing and storage  Smart Contracts  Cryptographic primitives, consensus protocols and algorithms
  8. 8. 10
  9. 9. Major attraction  Public Verifiability  Uncorrupted and unaltered data  Transparency
  10. 10. Blockchain as a Database is awful  Throughput is a few transactions a second  Latency before a confirmed write is ten minutes  Capacity is a few Gb.  Adding nodes causes more issues  Double the nodes produces quadruple the network traffic  No improvement in throughput, latency or capacity  Oh, and you can’t query it very well
  11. 11. Blockchain as a Database is good  Consortium Database  Decentralized / shared control  blockchains allow enemies to work together for a common benefit  R3 for banks  Open Music Initiative  Immutability and audit trail  Assets and exchanges
  12. 12. 14
  13. 13. CRUD vs Append Only  User can add more data in the form of blocks  Read Operations: these query and retrieve data from the blockchain  Write Operations: these add more data onto the blockchain
  14. 14. Different Types of Blockchain Permissioned and Private: R3 Corda Hyperledger Public Smart Contract Ethereum
  15. 15. Cryptokitties