SlideShare a Scribd company logo

FaceTime Kortrijk 2018 - blockchain

Slideware to support my blockchain / distributed ledger talk at FaceTime Kortrijk 2018. This event with over 600 visitors hosted talks from Peter Hinssen, Jonathan Berte (Robovision) and myself about emerging technologies.

1 of 54
Download to read offline
Koen Vingerhoets – @IthronKoen on
• Master in Law (2000, UA)
• Experienced in IT (I dream in code)
• KBC since 2011 (Lean coach, Cultural Change, Insurance)
• Blockchain since 2014, officially since 2016
• Gadgets
• Garamond font
• Lord of the Rings
• Intelligence
• Humor
• Garlic
• Books from Thea Beckman
• Inefficiency
• Lists
• Irony
7) Inconsistency
3
Blockchain, not bitcoin
Preliminary remarks
• Bitcoin is “A”, not “THE” blockchain;
• My focus is on Blockchain, not bitcoin;
• No 10 minutes wait / transaction;
• No crazy electricity use;
• Anonymous as far as needed;
• No cryptocurrency needed;
• I don’t know which crypto you should buy;
Explaining blockchain without mentioning bitcoin is impossible.
On the menu
A lesson from history : ledgers
A really short blockchain introduction
Slightly longer blockchain explanation
Blockchain in practice
Closing thoughts
5
VOC – Hollands Gouden Eeuw
VOC & De Groote Compagnie
• Verenigde Oost-Indische Compagnie : the
world’s first joint-stock limited liability
company with freely transferable shares (1602)
• Owners were registered in a ledger, every
transfer was signed by “De Heeren XVII”
• The shareholders partipicated in the profit.
• Groote Compagnie organized trades (1609)
• “Naked short sales” : promise to sell shares in
the future at a predefined price
At the dawn of the financial world… human nature surfaces already.
6
VOC – Hollands Gouden Eeuw
When the trusted third party turns out to be not so trustworthy…
De Groote Compagnie
• Barent Lampe, head accountant VOC
• Hans Bouwer, trader
Heeren XVII

Recommended

Blockchain : The Banking Scene 2018 (Brussels)
Blockchain : The Banking Scene 2018 (Brussels)Blockchain : The Banking Scene 2018 (Brussels)
Blockchain : The Banking Scene 2018 (Brussels)Koen Vingerhoets
 
The Studio On Air : blockchain & AI
The Studio On Air : blockchain & AIThe Studio On Air : blockchain & AI
The Studio On Air : blockchain & AIKoen Vingerhoets
 
Blockchain - The truth is in there @ Odisee Alumni event
Blockchain - The truth is in there @ Odisee Alumni eventBlockchain - The truth is in there @ Odisee Alumni event
Blockchain - The truth is in there @ Odisee Alumni eventKoen Vingerhoets
 
From 7331 to legal : a selection of blockchain discussion topics
From 7331 to legal : a selection of blockchain discussion topicsFrom 7331 to legal : a selection of blockchain discussion topics
From 7331 to legal : a selection of blockchain discussion topicsKoen Vingerhoets
 
Basic introduction in blockchain, smart contracts, permissioned ledgers
Basic introduction in blockchain, smart contracts, permissioned ledgersBasic introduction in blockchain, smart contracts, permissioned ledgers
Basic introduction in blockchain, smart contracts, permissioned ledgersKoen Vingerhoets
 
20170620 MEETUP intro to blockchain and smart contracts (1)
20170620 MEETUP intro to blockchain and smart contracts (1)20170620 MEETUP intro to blockchain and smart contracts (1)
20170620 MEETUP intro to blockchain and smart contracts (1)Brussels Legal Hackers
 
Blockchain Finance
Blockchain FinanceBlockchain Finance
Blockchain Financermsams
 

More Related Content

What's hot

Blockchain and Smart Contracts
Blockchain and Smart ContractsBlockchain and Smart Contracts
Blockchain and Smart ContractsNelson Rosario
 
Primer to smart contracts, smart property, trustless asset management
Primer to smart contracts, smart property, trustless asset managementPrimer to smart contracts, smart property, trustless asset management
Primer to smart contracts, smart property, trustless asset managementTim Swanson
 
Why banks invest in blockchain (and not in bitcoin)
Why banks invest in blockchain (and not in bitcoin)Why banks invest in blockchain (and not in bitcoin)
Why banks invest in blockchain (and not in bitcoin)Koen Vingerhoets
 
Blockchain, smart contracts and use cases for the Legal Hackers
Blockchain, smart contracts and use cases for the Legal HackersBlockchain, smart contracts and use cases for the Legal Hackers
Blockchain, smart contracts and use cases for the Legal HackersKoen Vingerhoets
 
FinTech Belgium Summit 2017 - Blockchain slides
FinTech Belgium Summit 2017 - Blockchain slidesFinTech Belgium Summit 2017 - Blockchain slides
FinTech Belgium Summit 2017 - Blockchain slidesKoen Vingerhoets
 
Blockchain; how it works, and why you should care
Blockchain; how it works, and why you should careBlockchain; how it works, and why you should care
Blockchain; how it works, and why you should careVincent Olislagers
 
Business of Decentralized Finance: Economics, Finance, and Business aspects o...
Business of Decentralized Finance: Economics, Finance, and Business aspects o...Business of Decentralized Finance: Economics, Finance, and Business aspects o...
Business of Decentralized Finance: Economics, Finance, and Business aspects o...Sam Ghosh
 
John Davies of C24 - BlockChain - Blockbuster or Bullshit?
John Davies of C24 - BlockChain - Blockbuster or Bullshit?John Davies of C24 - BlockChain - Blockbuster or Bullshit?
John Davies of C24 - BlockChain - Blockbuster or Bullshit?Joe Baguley
 
Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017🔗Audrey Chaing
 
Blockchain, Ethereum and Business Applications
Blockchain, Ethereum and Business ApplicationsBlockchain, Ethereum and Business Applications
Blockchain, Ethereum and Business ApplicationsMatthias Zimmermann
 
Blockchain: The Information Technology of the Future
Blockchain: The Information Technology of the FutureBlockchain: The Information Technology of the Future
Blockchain: The Information Technology of the FutureMelanie Swan
 
The Continued Existence of Altcoins, Appcoins and Commodity coins
The Continued Existence of Altcoins, Appcoins and Commodity coinsThe Continued Existence of Altcoins, Appcoins and Commodity coins
The Continued Existence of Altcoins, Appcoins and Commodity coinsTim Swanson
 
Cryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceCryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceErnie Teo
 
FirstPartner 2016 Blockchain Ecosystem Market Map
FirstPartner 2016 Blockchain Ecosystem Market MapFirstPartner 2016 Blockchain Ecosystem Market Map
FirstPartner 2016 Blockchain Ecosystem Market MapRichard Warren
 
The Distributed Ledger Landscape
The Distributed Ledger LandscapeThe Distributed Ledger Landscape
The Distributed Ledger LandscapeTim Swanson
 
Blockchain, Finance & Regulatory Development
Blockchain, Finance & Regulatory DevelopmentBlockchain, Finance & Regulatory Development
Blockchain, Finance & Regulatory DevelopmentAlex Makosz
 
Decentralised Transactions and Accounts with Blockchain
Decentralised Transactions and Accounts with BlockchainDecentralised Transactions and Accounts with Blockchain
Decentralised Transactions and Accounts with Blockchainaharth
 
Defining Smart Contracts
Defining Smart ContractsDefining Smart Contracts
Defining Smart ContractsTim Swanson
 

What's hot (20)

Blockchain and Smart Contracts
Blockchain and Smart ContractsBlockchain and Smart Contracts
Blockchain and Smart Contracts
 
Primer to smart contracts, smart property, trustless asset management
Primer to smart contracts, smart property, trustless asset managementPrimer to smart contracts, smart property, trustless asset management
Primer to smart contracts, smart property, trustless asset management
 
Why banks invest in blockchain (and not in bitcoin)
Why banks invest in blockchain (and not in bitcoin)Why banks invest in blockchain (and not in bitcoin)
Why banks invest in blockchain (and not in bitcoin)
 
Blockchain, smart contracts and use cases for the Legal Hackers
Blockchain, smart contracts and use cases for the Legal HackersBlockchain, smart contracts and use cases for the Legal Hackers
Blockchain, smart contracts and use cases for the Legal Hackers
 
FinTech Belgium Summit 2017 - Blockchain slides
FinTech Belgium Summit 2017 - Blockchain slidesFinTech Belgium Summit 2017 - Blockchain slides
FinTech Belgium Summit 2017 - Blockchain slides
 
Blockchain; how it works, and why you should care
Blockchain; how it works, and why you should careBlockchain; how it works, and why you should care
Blockchain; how it works, and why you should care
 
Business of Decentralized Finance: Economics, Finance, and Business aspects o...
Business of Decentralized Finance: Economics, Finance, and Business aspects o...Business of Decentralized Finance: Economics, Finance, and Business aspects o...
Business of Decentralized Finance: Economics, Finance, and Business aspects o...
 
John Davies of C24 - BlockChain - Blockbuster or Bullshit?
John Davies of C24 - BlockChain - Blockbuster or Bullshit?John Davies of C24 - BlockChain - Blockbuster or Bullshit?
John Davies of C24 - BlockChain - Blockbuster or Bullshit?
 
Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017
 
Blockchain, Ethereum and Business Applications
Blockchain, Ethereum and Business ApplicationsBlockchain, Ethereum and Business Applications
Blockchain, Ethereum and Business Applications
 
Unlocking Blockchain’s Potential
Unlocking Blockchain’s PotentialUnlocking Blockchain’s Potential
Unlocking Blockchain’s Potential
 
Blockchain technology a primer
Blockchain technology   a primerBlockchain technology   a primer
Blockchain technology a primer
 
Blockchain: The Information Technology of the Future
Blockchain: The Information Technology of the FutureBlockchain: The Information Technology of the Future
Blockchain: The Information Technology of the Future
 
The Continued Existence of Altcoins, Appcoins and Commodity coins
The Continued Existence of Altcoins, Appcoins and Commodity coinsThe Continued Existence of Altcoins, Appcoins and Commodity coins
The Continued Existence of Altcoins, Appcoins and Commodity coins
 
Cryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceCryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and Finance
 
FirstPartner 2016 Blockchain Ecosystem Market Map
FirstPartner 2016 Blockchain Ecosystem Market MapFirstPartner 2016 Blockchain Ecosystem Market Map
FirstPartner 2016 Blockchain Ecosystem Market Map
 
The Distributed Ledger Landscape
The Distributed Ledger LandscapeThe Distributed Ledger Landscape
The Distributed Ledger Landscape
 
Blockchain, Finance & Regulatory Development
Blockchain, Finance & Regulatory DevelopmentBlockchain, Finance & Regulatory Development
Blockchain, Finance & Regulatory Development
 
Decentralised Transactions and Accounts with Blockchain
Decentralised Transactions and Accounts with BlockchainDecentralised Transactions and Accounts with Blockchain
Decentralised Transactions and Accounts with Blockchain
 
Defining Smart Contracts
Defining Smart ContractsDefining Smart Contracts
Defining Smart Contracts
 

Similar to FaceTime Kortrijk 2018 - blockchain

20190316 - CLBFest - 1337 to legal - Koen Vingerhoets
20190316 - CLBFest - 1337 to legal - Koen Vingerhoets20190316 - CLBFest - 1337 to legal - Koen Vingerhoets
20190316 - CLBFest - 1337 to legal - Koen VingerhoetsBrussels Legal Hackers
 
От прорывной концепции до комплексного решения для компаний
От прорывной концепции до комплексного решения для компанийОт прорывной концепции до комплексного решения для компаний
От прорывной концепции до комплексного решения для компанийPositive Hack Days
 
20170620 MEETUP intro to blockchain and smart contracts (2)
20170620 MEETUP intro to blockchain and smart contracts (2)20170620 MEETUP intro to blockchain and smart contracts (2)
20170620 MEETUP intro to blockchain and smart contracts (2)Brussels Legal Hackers
 
Blockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdfBlockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdfEdilson Osorio Junior
 
Blockchain for Accounting & Assurance
Blockchain for Accounting & AssuranceBlockchain for Accounting & Assurance
Blockchain for Accounting & AssuranceEryk Budi Pratama
 
Blockchain demystified
Blockchain demystifiedBlockchain demystified
Blockchain demystifiedAlan Morrison
 
Blockchain @ Capitant FinTech Day Antwerp
Blockchain @ Capitant FinTech Day AntwerpBlockchain @ Capitant FinTech Day Antwerp
Blockchain @ Capitant FinTech Day AntwerpKoen Vingerhoets
 
Blockchain and Smart Contracts
Blockchain and Smart ContractsBlockchain and Smart Contracts
Blockchain and Smart ContractsFinancial Poise
 
Blockchain Introduction - Canada Nov 2017.pptx
Blockchain Introduction - Canada Nov 2017.pptxBlockchain Introduction - Canada Nov 2017.pptx
Blockchain Introduction - Canada Nov 2017.pptxAntony Welfare
 
Hiberus Experience - Fundamentos de Blockchain
Hiberus Experience - Fundamentos de BlockchainHiberus Experience - Fundamentos de Blockchain
Hiberus Experience - Fundamentos de BlockchainHiberus Tecnología
 
Smart contractjp smartcontract_about
Smart contractjp smartcontract_aboutSmart contractjp smartcontract_about
Smart contractjp smartcontract_aboutTomoaki Sato
 
Supply Chain Management using Blockchain
Supply Chain Management using BlockchainSupply Chain Management using Blockchain
Supply Chain Management using BlockchainYugn27
 
3daysblcourseockchainbigdata
3daysblcourseockchainbigdata3daysblcourseockchainbigdata
3daysblcourseockchainbigdataAnne Starr
 
Adoption Of Blockchain In Financial Services
Adoption Of Blockchain In Financial ServicesAdoption Of Blockchain In Financial Services
Adoption Of Blockchain In Financial ServicesClaire Webber
 
Blockchain and Smart Contracts (Series: Blockchain Basics 2020)
Blockchain and Smart Contracts (Series: Blockchain Basics 2020)   Blockchain and Smart Contracts (Series: Blockchain Basics 2020)
Blockchain and Smart Contracts (Series: Blockchain Basics 2020) Financial Poise
 
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019AWIP Pink Innov Blockchain Workshop deck - May 23, 2019
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019Samantha Reynolds
 
Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)Financial Poise
 
Blockchain and Supply Chain (Series: Blockchain Basics)
Blockchain and Supply Chain (Series: Blockchain Basics)Blockchain and Supply Chain (Series: Blockchain Basics)
Blockchain and Supply Chain (Series: Blockchain Basics)Financial Poise
 

Similar to FaceTime Kortrijk 2018 - blockchain (20)

20190316 - CLBFest - 1337 to legal - Koen Vingerhoets
20190316 - CLBFest - 1337 to legal - Koen Vingerhoets20190316 - CLBFest - 1337 to legal - Koen Vingerhoets
20190316 - CLBFest - 1337 to legal - Koen Vingerhoets
 
От прорывной концепции до комплексного решения для компаний
От прорывной концепции до комплексного решения для компанийОт прорывной концепции до комплексного решения для компаний
От прорывной концепции до комплексного решения для компаний
 
blockchain governance : opportunities and challenges
 blockchain governance : opportunities and challenges blockchain governance : opportunities and challenges
blockchain governance : opportunities and challenges
 
20170620 MEETUP intro to blockchain and smart contracts (2)
20170620 MEETUP intro to blockchain and smart contracts (2)20170620 MEETUP intro to blockchain and smart contracts (2)
20170620 MEETUP intro to blockchain and smart contracts (2)
 
Blockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdfBlockchain and Applications Class - 2022.pdf
Blockchain and Applications Class - 2022.pdf
 
Blockchain for Accounting & Assurance
Blockchain for Accounting & AssuranceBlockchain for Accounting & Assurance
Blockchain for Accounting & Assurance
 
Blockchain demystified
Blockchain demystifiedBlockchain demystified
Blockchain demystified
 
Blockchain @ Capitant FinTech Day Antwerp
Blockchain @ Capitant FinTech Day AntwerpBlockchain @ Capitant FinTech Day Antwerp
Blockchain @ Capitant FinTech Day Antwerp
 
Blockchain and Smart Contracts
Blockchain and Smart ContractsBlockchain and Smart Contracts
Blockchain and Smart Contracts
 
Block chain A Paradigm Shift
Block chain A Paradigm ShiftBlock chain A Paradigm Shift
Block chain A Paradigm Shift
 
Blockchain Introduction - Canada Nov 2017.pptx
Blockchain Introduction - Canada Nov 2017.pptxBlockchain Introduction - Canada Nov 2017.pptx
Blockchain Introduction - Canada Nov 2017.pptx
 
Hiberus Experience - Fundamentos de Blockchain
Hiberus Experience - Fundamentos de BlockchainHiberus Experience - Fundamentos de Blockchain
Hiberus Experience - Fundamentos de Blockchain
 
Smart contractjp smartcontract_about
Smart contractjp smartcontract_aboutSmart contractjp smartcontract_about
Smart contractjp smartcontract_about
 
Supply Chain Management using Blockchain
Supply Chain Management using BlockchainSupply Chain Management using Blockchain
Supply Chain Management using Blockchain
 
3daysblcourseockchainbigdata
3daysblcourseockchainbigdata3daysblcourseockchainbigdata
3daysblcourseockchainbigdata
 
Adoption Of Blockchain In Financial Services
Adoption Of Blockchain In Financial ServicesAdoption Of Blockchain In Financial Services
Adoption Of Blockchain In Financial Services
 
Blockchain and Smart Contracts (Series: Blockchain Basics 2020)
Blockchain and Smart Contracts (Series: Blockchain Basics 2020)   Blockchain and Smart Contracts (Series: Blockchain Basics 2020)
Blockchain and Smart Contracts (Series: Blockchain Basics 2020)
 
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019AWIP Pink Innov Blockchain Workshop deck - May 23, 2019
AWIP Pink Innov Blockchain Workshop deck - May 23, 2019
 
Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)
 
Blockchain and Supply Chain (Series: Blockchain Basics)
Blockchain and Supply Chain (Series: Blockchain Basics)Blockchain and Supply Chain (Series: Blockchain Basics)
Blockchain and Supply Chain (Series: Blockchain Basics)
 

Recently uploaded

Teams Nation 2024 - #Copilot & Teams or Just Premium.pptx
Teams Nation 2024 - #Copilot & Teams or Just Premium.pptxTeams Nation 2024 - #Copilot & Teams or Just Premium.pptx
Teams Nation 2024 - #Copilot & Teams or Just Premium.pptxKai Stenberg
 
Space expansion: cultural considerations, long term perspectives, and spiritu...
Space expansion: cultural considerations, long term perspectives, and spiritu...Space expansion: cultural considerations, long term perspectives, and spiritu...
Space expansion: cultural considerations, long term perspectives, and spiritu...Giulio Prisco
 
AWS RDS Data API and CloudTrail. Who drop the table_.pdf
AWS RDS Data API and CloudTrail. Who drop the table_.pdfAWS RDS Data API and CloudTrail. Who drop the table_.pdf
AWS RDS Data API and CloudTrail. Who drop the table_.pdfVladimir Samoylov
 
Scaling up renewable energy investments in West Africa
Scaling up renewable energy investments in West AfricaScaling up renewable energy investments in West Africa
Scaling up renewable energy investments in West AfricaFrancois Stepman
 
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptx
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptxONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptx
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptxDivyaPatel621561
 
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdf
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdfInstructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdf
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdfaytenfsuc
 
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptxNinia
 
Present and Future Requisites for Prosperity in the Caribbean
Present and Future Requisites for Prosperity in the CaribbeanPresent and Future Requisites for Prosperity in the Caribbean
Present and Future Requisites for Prosperity in the CaribbeanCaribbean Development Bank
 
VAWC-RA-9262 Anti Violence Against Women and THeir Children
VAWC-RA-9262 Anti Violence Against Women and THeir ChildrenVAWC-RA-9262 Anti Violence Against Women and THeir Children
VAWC-RA-9262 Anti Violence Against Women and THeir Childrendilgpitogo2023
 
KKrish - DOVE Leadership Program Concept
KKrish - DOVE Leadership Program ConceptKKrish - DOVE Leadership Program Concept
KKrish - DOVE Leadership Program ConceptKarthik Krishna
 
DAY 05 Book of Revelation 2-18-24 PPT.pptx
DAY 05 Book of Revelation 2-18-24 PPT.pptxDAY 05 Book of Revelation 2-18-24 PPT.pptx
DAY 05 Book of Revelation 2-18-24 PPT.pptxFamilyWorshipCenterD
 
Partnerships for Resilient Prosperity in the Caribbean
Partnerships for Resilient Prosperity in the CaribbeanPartnerships for Resilient Prosperity in the Caribbean
Partnerships for Resilient Prosperity in the CaribbeanCaribbean Development Bank
 
Supporting Resilient Prosperity in the Caribbean
Supporting Resilient Prosperity in the CaribbeanSupporting Resilient Prosperity in the Caribbean
Supporting Resilient Prosperity in the CaribbeanCaribbean Development Bank
 
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...West Africa Scene Setting African Continental Master Plan (CMP) for electrici...
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...Francois Stepman
 

Recently uploaded (15)

Teams Nation 2024 - #Copilot & Teams or Just Premium.pptx
Teams Nation 2024 - #Copilot & Teams or Just Premium.pptxTeams Nation 2024 - #Copilot & Teams or Just Premium.pptx
Teams Nation 2024 - #Copilot & Teams or Just Premium.pptx
 
Space expansion: cultural considerations, long term perspectives, and spiritu...
Space expansion: cultural considerations, long term perspectives, and spiritu...Space expansion: cultural considerations, long term perspectives, and spiritu...
Space expansion: cultural considerations, long term perspectives, and spiritu...
 
AWS RDS Data API and CloudTrail. Who drop the table_.pdf
AWS RDS Data API and CloudTrail. Who drop the table_.pdfAWS RDS Data API and CloudTrail. Who drop the table_.pdf
AWS RDS Data API and CloudTrail. Who drop the table_.pdf
 
Scaling up renewable energy investments in West Africa
Scaling up renewable energy investments in West AfricaScaling up renewable energy investments in West Africa
Scaling up renewable energy investments in West Africa
 
Auditorium Session 1 - Connection - Inclusion
Auditorium Session 1 - Connection - InclusionAuditorium Session 1 - Connection - Inclusion
Auditorium Session 1 - Connection - Inclusion
 
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptx
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptxONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptx
ONLINE RESORT BOOKING SYSTEM WEBSITE 1.pptx
 
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdf
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdfInstructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdf
Instructional Supervision - By Dr. Cherinet Aytenfsu Weldearegay.pdf
 
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx
1.2 Ingredients Used for Sandwiches 1.3 Culinary Terms.pptx
 
Present and Future Requisites for Prosperity in the Caribbean
Present and Future Requisites for Prosperity in the CaribbeanPresent and Future Requisites for Prosperity in the Caribbean
Present and Future Requisites for Prosperity in the Caribbean
 
VAWC-RA-9262 Anti Violence Against Women and THeir Children
VAWC-RA-9262 Anti Violence Against Women and THeir ChildrenVAWC-RA-9262 Anti Violence Against Women and THeir Children
VAWC-RA-9262 Anti Violence Against Women and THeir Children
 
KKrish - DOVE Leadership Program Concept
KKrish - DOVE Leadership Program ConceptKKrish - DOVE Leadership Program Concept
KKrish - DOVE Leadership Program Concept
 
DAY 05 Book of Revelation 2-18-24 PPT.pptx
DAY 05 Book of Revelation 2-18-24 PPT.pptxDAY 05 Book of Revelation 2-18-24 PPT.pptx
DAY 05 Book of Revelation 2-18-24 PPT.pptx
 
Partnerships for Resilient Prosperity in the Caribbean
Partnerships for Resilient Prosperity in the CaribbeanPartnerships for Resilient Prosperity in the Caribbean
Partnerships for Resilient Prosperity in the Caribbean
 
Supporting Resilient Prosperity in the Caribbean
Supporting Resilient Prosperity in the CaribbeanSupporting Resilient Prosperity in the Caribbean
Supporting Resilient Prosperity in the Caribbean
 
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...West Africa Scene Setting African Continental Master Plan (CMP) for electrici...
West Africa Scene Setting African Continental Master Plan (CMP) for electrici...
 

FaceTime Kortrijk 2018 - blockchain

  • 1. Koen Vingerhoets – @IthronKoen on
  • 2. • Master in Law (2000, UA) • Experienced in IT (I dream in code) • KBC since 2011 (Lean coach, Cultural Change, Insurance) • Blockchain since 2014, officially since 2016 • Gadgets • Garamond font • Lord of the Rings • Intelligence • Humor • Garlic • Books from Thea Beckman • Inefficiency • Lists • Irony 7) Inconsistency
  • 3. 3 Blockchain, not bitcoin Preliminary remarks • Bitcoin is “A”, not “THE” blockchain; • My focus is on Blockchain, not bitcoin; • No 10 minutes wait / transaction; • No crazy electricity use; • Anonymous as far as needed; • No cryptocurrency needed; • I don’t know which crypto you should buy; Explaining blockchain without mentioning bitcoin is impossible.
  • 4. On the menu A lesson from history : ledgers A really short blockchain introduction Slightly longer blockchain explanation Blockchain in practice Closing thoughts
  • 5. 5 VOC – Hollands Gouden Eeuw VOC & De Groote Compagnie • Verenigde Oost-Indische Compagnie : the world’s first joint-stock limited liability company with freely transferable shares (1602) • Owners were registered in a ledger, every transfer was signed by “De Heeren XVII” • The shareholders partipicated in the profit. • Groote Compagnie organized trades (1609) • “Naked short sales” : promise to sell shares in the future at a predefined price At the dawn of the financial world… human nature surfaces already.
  • 6. 6 VOC – Hollands Gouden Eeuw When the trusted third party turns out to be not so trustworthy… De Groote Compagnie • Barent Lampe, head accountant VOC • Hans Bouwer, trader Heeren XVII
  • 7. On the menu A lesson from history : ledgers A really short blockchain introduction Slightly longer blockchain explanation Blockchain in practice Closing thoughts
  • 8. 2008 – “Satoshi Nakamoto” writes…
  • 9. Bitcoin = unique transfer of value
  • 10. Blockchain persists all the unique transfers
  • 11. How the technology behind bitcoin could change the world
  • 12. The truth in tempore non suspecto
  • 13. On the menu A lesson from history : ledgers A really short blockchain introduction Slightly longer blockchain explanation Blockchain in practice Closing thoughts
  • 15. Understanding distributed ledgers Nomen est omen : blockchain A transaction is - Declaration of an incident - Pictures of the accident - Signed contract - A proof of payment - An offer from car repair - Steps in the RDR wizard - …
  • 16. vs 1. Every hash is unique 2. Infinitly reproducable 3. One way traffic Understanding distributed ledgers Encryption vs hashing When you know a hash is NOT unique
  • 18. Understanding distributed ledgers Encryption vs hashing
  • 19. Understanding distributed ledgers Encryption vs hashing
  • 20. Understanding distributed ledgers Encryption vs hashing
  • 22. Blockchain : a business definition The blockchain is, from a business point of view,  A shared platform  On which parties who don’t know or trust each other  Are able to collaborate with respect for privacy  Without relying on a possibly corrupt administrator.
  • 23. 23 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 24. Transparency: public <> private and permissionless <> permissioned Public Private BTC 1984 ? KBC Permissionless Permissioned
  • 25. 25 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 26. Nicki -> KoenIN 0,8 BTC Wim -> KoenIN 0,6 BTC Koen -> ThomasOUT 1 BTC Wim -> KoenREST 0,4 BTC Koen receives two payments - 0,8 BTC from Nicki - 0,6 BTC from Wim Koen transfers 1 BTC to Thomas - 0,8 BTC + 0,2 BTC - 0,4 BTC is unspent transaction • (A defined number of) assets are stored on the blockchain • Each asset is identified • Assets are divided • Assets are transferred (not copied) => Clear view on who owns what when. Ownership : how value is stored
  • 27. 27 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 28. Traceability : the sequence is the defence
  • 29. 29 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 30. Trusted party & Single point of failure Distributed : (de)centralized & distributed One central point of authority
  • 31. 31 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 32. Trust : consensus as a service BTC : 7trx/s 0,24% power
  • 33. 33 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts
  • 34. 34 Smart contracts Not smart, not a contract… but it’s code and it runs on the blockchain. Definition A smart contract is an agreement whose execution is both automated and enforceable. • The actual “transaction” among parties is expressed through and independently executed by computer code, no party can block it or otherwise tamper with. • It constitutes legally binding rights and obligations of the involved parties.
  • 35. 35 Smart contracts Just code, a workflow or an entire contract? Is code law or not? What could it be now?
  • 36. 36 Our approach : 6 key elements Combined and used with other parties, they create a single shared source of truth. TrustOwnership Transparency Traceability Distributed Smart contracts In collaboration with others, Blockchain is… … the single shared source of truth.
  • 37. On the menu A lesson from history : ledgers A really short blockchain introduction Slightly longer blockchain explanation Blockchain in practice Closing thoughts
  • 38. 38 VOC – Hollands Gouden Eeuw How would blockchain improve this? TrustOwnership Transparency Traceability Distributed Smart contracts In collaboration with others, Blockchain is… … the single shared source of truth.
  • 39. KBC Trade Finance| we.trade
  • 40. we.trade : the purpose 40 A marketplace where SMEs can easily trade with more trust
  • 41. Internal 41 Our History Blockchain brought us together in 2017 • Built a consortium out of 9 banks across Europe • Designed a solution benefiting our members and our clients • Established a Joint Venture around a cutting-edge technology • Developed a concept to allow other banks to participate • Put in place an effective governance
  • 42. Internal 42 Issues in International Open Trade A Catch 22 – The risk of advanced payment and shipment Trust Financing Today, access of companies to international trade is limited and involves high risk This hampers expansion and puts a cap on international trade Companies face a trade-off between bearing the risk, purchasing complex/expensive coverage or turning down business opportunities
  • 43. Internal 43 How it works Buyer initiates purchase order with 60 days payment terms1 Buyer requests bank to provide Bank Payment Undertaking (BPU) 2 Supplier ships order and sends invoice through the platform 3 Buyer confirms the receipt of goods4 Supplier asks his bank to provide invoice financing arrangement for next 60 days (optional) 5 Buyer’s bank debits buyer account and initiates payment of invoice on due date, either… − to supplier’s bank, if invoice has been financed or − to supplier’s account 6 6 2 1 4 3 5 Buyer Supplier Buyer’s bank Supplier’s bank How we ensure trust in trade
  • 44. Internal 44 Identification of unknown counterparts (all clients on we.trade are KYC’d) Invoice Financing: Additional working capital without leveraging credit lines Bank Payment Undertaking (BPU): Counterparty risk transferred to bank Track and trace for over 426 couriers Event based automatic payment triggers through smart contracts Real time settlement enabled by one platform for all parties Key Benefits for Customers A digital one stop shop accessible by all parties
  • 45. Internal Our Vision 45 A marketplace where companies can trade with more trust we.trade is a trade platform that… ...allows corporate customers quick, easy and paperless transactions for trade finance …automates fulfillment of end-to-end settlement with full KYC ...that seamlessly connects the entire trade ecosystem Go beyond Europe (2018+) Expand & Reach Scale (2018) Brand launch (Oct 2017) Joint Venture formation (End 2017) Go Live (Q1 2018) we.trade ecosystem Banks Insurers Logistics
  • 46. Internal But why blockchain? The proof of the pudding… TrustOwnership Transparency Traceability Distributed Smart contracts Blockchain is… … the single shared source of truth.
  • 47. On the menu A lesson from history : ledgers A really short blockchain introduction Slightly longer blockchain explanation Blockchain in practice Closing thoughts
  • 48. It’s not the Holy Grail Blockchain will not solve everything: • Organisational problems • Slow processes or data quality issues • Fraudulent purposes and lawsuits • … Some technical challenges remain: • Scalability & # transactions per unit of time • Network size • Latency (Time until transaction confirmed) • … 48 Blockchain is not always a solution. Replacing a database with another seldom fixes an issue, blockchain supports a new approach.
  • 49. Key challenges • Blockchain strategy is about collaboration. • Not just IT, involve business (risk appetite) • Unpredictable regulator & Government. • Financial signals (ROI) are problematic. • Radical uncertainty is the norm. 50 Still in the fuzzy front end ? Some critical challenges remain, on business side.
  • 50. 51 Your IT will figure it out Collaboration is a basic element of IT, not of the business IT has collaboration in its DNA • Open source projects • Hackathons • CoderDojo • Mailings lists • CodeProject, I dream in code,… • Tech blogs • …
  • 51. 52 Business : closed workshops Collaboration is a basic element of IT, not of the business The challenge is on business side • From EGOsystem to ECOsystem • Knowledge Management is a job • Competitive advantage • Regulations • Mindset
  • 52. We Do you sell trust & data? Blockchain is trust & data.
  • 53. 54 We believe blockchain will be the fabric of trust in the business world of tomorrow.
  • 54. Koen.Vingerhoets@kbc.be Twitter : @IthronKoen TrustOwnership Transparency Traceability Distributed Smart contracts Blockchain is… … the single shared source of truth.