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Blockchain
Md. Hasan Basri
Full Stack Software Engineer
pothq@gmail.com
linkedin.com/in/pothiq
What is Blockchain?
• A blockchain, originally block chain
• A continuously growing list of records, called blocks.
• Each block typically contains a cryptographic hash of the previous
block, a timestamp, and transaction data.
• By design, a blockchain is resistant to modification of the data.
• It is "an open, distributed ledger that can record transactions
between two parties efficiently and in a verifiable and
permanent way".
Blockchain Technology
• A blockchain is a distributed, decentralized transaction ledger, saved
by each node in the network, which is owned, maintained and
updated by each node. It's a peer-to-peer system. No central
authority manages the transaction flows.
Why Blockchain Technology?
• Reduce Cost
• Transparency
• No single point of failure
• Security
• Realtime tracking
• Unalterable copied only
• No third party involvement
• Trusted transaction
The Latest Blockchain Investing Stock
• 360 Blockchain (CSE:CODE), Market cap: $14.56 million
• Atlas Cloud Enterprises (CSE:AKE), Market cap: $95.27 million
• BLOK Technologies (CSE:BLK), Market cap: $7.02 million
• BTCS (OTCMKTS:BTCS), Market cap: $26.81 million
• BTL Group (TSXV:BTL), Market cap: $139.74 million
• Coinsilium Group (NEX:COIN), Market cap: GB$9.08 million
• DigitalX (ASX:DCC), Market cap: AU$ 77.75 million
• DMG Blockchain Solutions (TSXV:DMGI), Market cap: $36.37 million
• eXeBlock Technology (CSE:XBLK), Market cap:$12.60 million
• Global Blockchain Technologies (TSXV:BLOC), Market cap: $158.47 million
When the race begin?
• The journey of Blockchain started in 1991
• A structure which was similar to that of Blockchain was mentioned in
a research paper titled “How to Time-Stamp a Digital Document” in
1991 by Haber and Stornetta.
Use Cases of Blockchain
Blockchain Markets
Blockchain Projects for Health Care Industries
Type of Blockchain
Public Private Consortium/Permissioned
Network
Type
Decentralized Partially decentralized Partially decentralized
* Hybrid between private and public
blockchain
What is
it?
* Anyone anywhere in the
world can read and write on
the network.
* Data is validated by every
participant ("node") in the
network, thus making it
very secure.
* Permissions to read and
write data onto the
Blockchain are controlled by
a single "highly trusted"
organization - the owner of
the blockchain.
* Permissions to verify, read and
write on the blockchain controlled by
a few predetermined nodes.
* The choice of predetermined nodes
can be different for every entity on
the blockchain.
Type of Blockchain
Public Private Consortium/Permissioned
Benefits Secure as the entire
network verifies
transactions -
Transparent as all
transactions are made
public with individual
anonymity.
* Efficient as verification is
done by just owner of the
blockchain.
* Private as the owner can
control who has access to
read or write on the
blockchain.
* Efficient as relatively lesser nodes
verify transactions.
* Private as read and write access can
be controlled by the predetermined
nodes.
* No consolidation of controlling power.
Challenges * Inefficient al all nodes
need to verify the
transaction.
* Controlling power is
consolidated to a single
organization.
* Difficult to align many
organizations to use the
same blockchain.
Segmentation of Blockchain
Blockchain Quadrants
Levels of Blockchain
Blockchain Pros & Corns
Corns Pros
Complex technology Increased transparency
Regulatory implications Improved security
Increased anonymity Permanent public ledger
Implementation challenges Reduced costs
Difficult to understand Faster transaction time
Blockchain Basic Building Block
Application Layer
There are mainly four types of blockchain wallets available
to users. These are mentioned below:
• Software Wallets
• Web/Hosted Wallets
• Hardware Wallets
• Paper Wallets
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Blockchain ParticipantsApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
What is Token?
Tokens are a representation of a particular asset or utility, that
usually resides on top of another blockchain. Tokens can
represent basically any assets that are fungible and tradeable,
from commodities to loyalty points to even other
cryptocurrencies!
Tokens can represent any asset
An hours worth of rooftop solar energy
A currency such as dollar, euro, rupee, or GBP
A promise for a product in a crowdfund
A future download of a song from your favorite artist
An insurance policy
A ticket to an event
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Blockchain TransactionApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Block Structure:
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Consensus
• Proof of Work (PoW)
• Proof of Stake (PoS)
• Proof of Elapsed Time
• Byzantine Fault Tolerance and variants
1. PBFT
2. SIEVE
3. Cross-Fault Tolerance (XFT)
• Federated Byzantine Agreement
1. Ripple Consensus Protocol Algorithm
2. Stellar Consensus Protocol
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Consensus
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
ValidationApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
1. P2P Networks communication
2. Digital Signature-Public key and private key encryption
3. Replication of data at every node creates robustness
The miner’s puzzle
• The miner computes a secure hash over the block and includes
the hash in the block.
• The puzzle: The miner must find a nonce value to include in the
block, such that the block's hash a prefix of N zero digits.
- N grows with time a s computers get faster.
- probabilistic proof of work.
• Finding a nonce such that the first hash bit is zero is like flipping
a coin: the odds are 50% for any random trial.
- Each added zero bit reduces odds by a factor of 2.
• A miner's win probability is proportional to its computer power.
In this way, the next miner to publish is selected "randomly".
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
s
Miners work hard to create blocks
Blockchain miners take transactions from pool and try to bundle them into a
block, which involves hashing the block header, which consists of:
• Protocol version
• Hash of the previous block
• Timestamp
• Nonce
• Current hashing difficulty ("bits")
• Hash derived from the transactions("Merkel tree")
• A transaction is considered confirmed once it is included in a block-
otherwise they are considered "orphans" and are ignored.
• Most blockchain system clients will not verify a transaction until it is
confirmed six blocks deep.
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Creation of a block
1. Block:
Once confirmed a transaction is combined with other transactions to
create a block.
2. Attaching the block:
The new block is attached to the existing blockchain-it is permanent
and cannot be altered.
3. Completion:
The transaction is completed and stored on a public ledger.
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Creation of a blockApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Creation of a blockApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Node TypeApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Node TypeApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Application:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Blockchain MessageApplication:
- Wallet
Decentralize
Ledger:
- Participants
- Token
- Transactions
- Block Structure
- Verification
- Consensus
- PoW/PoS
- Validation
- Mining
- Blockchain
Network:
- Node Type
- Message
Blockchain Implementation
Considerations
• Governance
• Data Privacy
• Security
• Scalability
• Regulatory/Compliance
Governance
• Admission/qualification of network participations
• Policy definition and administration
• Data and interoperability standards
• Dispute resolution
• Change control
Data Privacy
• On chain vs off chain storage
• Transparency vs privacy
• Transaction data encryption
• Data leakage
Security
• Key management (Issuance, revocation)
• Lost/compromised keys
• Unknown threat vectors
• Decentralized Security
Scalability
• Requirements of compute, bandwidth and storage can lead to
centralization
• Viability of different consensus models
Regulatory/Compliance
• Impact of digital currency to systemic risk
• Incorporation of AML/KYC into digital payments systems
• Regulator access to data
• New regulations required?
Blockchain Timeline
Blockchain + IOT EcoSystem
Blockchain Solutions
New Blockchains now a days founding upon two terminology.
1. Blockchain As A Service (BaaS)
2. Blockchain Technology as a Service (BTaaS)
Services:
• Creating financial innovations based on BaaS
• Integrate BaaS with BTaaS
• BaaS provides new financial models as well as tamper-proof, open and
transparent service (External)
• BTaaS enhances the internal operational efficiency of enterprises
Blockchain As A Service (BaaS)
• Focuses on the process of business remodeling
• Features universality
• Uses existing blockchains
• Open service
Services:
1. Blockchain explorer
2. Trading platform for digital currency
3. Certificate-Factom
4. Digital identity-uPort
Blockchain Technology As A Service
(BTaaS)
• Focused on technical process
• Target specific scenarios
• Build your own blockchain instances
• Closed service
Services:
1. A wide variety of services of private blockchain
2. Hyper-Ledger Fabric
3. Multichain
References
• Andreas Antonopoulos, Mastering bitcoin, 2014
• Dwork Cynthia, Lynch Nancy and Stockmeyer Larry 1988 Consensus in the presence of partial synchrony
Journal of the ACM (JACM) 35 288-323 Crossref
• Ongaro Diego and Ousterhout John 2014 In Search of an Understandable Consensus Algorithm (Extended
Version) USENIX Annual Technical Conference (USENIX ATC 14)
• Schwartz David, Youngs Noah and Britto Arthur 2014 The Ripple protocol consensus algorithm white paper,
Ripple Labs
• Hillborn Erik and Tillstrom Tobias 2016 Applications of smart-contracts and smart-property utilizing block
chains Feb
• Peters Gareth. W. and Panayi Efstathios 2015 Understanding Modern Banking Ledgers through Blockchain
Technologies 18 Nov
• Czepluch Jacob Stenum, Lollike Nikolaj Zangenberg and Malone Simon Oliver 2015 Use of block chain
technology in different application domains 20 May
• Kwon Jae 2014 Tendermint : Consensus without mining white paper
• Lamport Shostak and Peace Marshall 1982 The Byzantine Generals Problem
• Nakamoto Satoshi 2008 Bitcoin: A peer to peer electronic cash system
References
• Vukolic Marko 2015 The quest for scalable blockchain fabric: Proof-of-work vs. BFT replication Proc. IFIP WG
11.4 Workshop on Open Research Problems in Network Security (iNetSec 2015)
• Nomura Research Institute 2015 Survey of block chain technologies and services
• Snow Paul, Deery Brian, Lu Jack, Johnson David and Kirby Peter 2014 Factom whitepaper 17 Nov
• Seibold Sigrid and Samman George 2016 Consensus – immutable agreement for the internet of value KPMG
• Swanson Tim 2016 Consensus as a service: a brief report on the emergence of permissioned distributed
ledger systems April
• Mougyar William 2016 The Business Blockchain: Promise, Practice, and Application of the Next Internet
Technology
• https://ripple.com/
• https://tendermint.com
• https://block.gyft.com/
• http://swarm-gateways.net/bzz:/swarm/
References
• https://gem.co/
• www.the-blockchain.com/docs/LaZooz
• www.everledger.io/
• https://streamium.io/s/blockchain-uni
• https://www.augur.net/
• https://angel.co/bithealth
• https://storj.io/
• https://coloredcoins.org/
• https://www.the-blockchain.com/
• https://blockchain.info/charts
• https://www.ascribe.io
• https://bitcoin.org
• http://dotblockchainmusic.com/
• https://www.bigchaindb.com/
[ … or Inbox me @ LinkedIn ]
Blockchain Basics Explained in Simple Terms

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Blockchain Basics Explained in Simple Terms

  • 1. Blockchain Md. Hasan Basri Full Stack Software Engineer pothq@gmail.com linkedin.com/in/pothiq
  • 2. What is Blockchain? • A blockchain, originally block chain • A continuously growing list of records, called blocks. • Each block typically contains a cryptographic hash of the previous block, a timestamp, and transaction data. • By design, a blockchain is resistant to modification of the data. • It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".
  • 3. Blockchain Technology • A blockchain is a distributed, decentralized transaction ledger, saved by each node in the network, which is owned, maintained and updated by each node. It's a peer-to-peer system. No central authority manages the transaction flows.
  • 4. Why Blockchain Technology? • Reduce Cost • Transparency • No single point of failure • Security • Realtime tracking • Unalterable copied only • No third party involvement • Trusted transaction
  • 5. The Latest Blockchain Investing Stock • 360 Blockchain (CSE:CODE), Market cap: $14.56 million • Atlas Cloud Enterprises (CSE:AKE), Market cap: $95.27 million • BLOK Technologies (CSE:BLK), Market cap: $7.02 million • BTCS (OTCMKTS:BTCS), Market cap: $26.81 million • BTL Group (TSXV:BTL), Market cap: $139.74 million • Coinsilium Group (NEX:COIN), Market cap: GB$9.08 million • DigitalX (ASX:DCC), Market cap: AU$ 77.75 million • DMG Blockchain Solutions (TSXV:DMGI), Market cap: $36.37 million • eXeBlock Technology (CSE:XBLK), Market cap:$12.60 million • Global Blockchain Technologies (TSXV:BLOC), Market cap: $158.47 million
  • 6. When the race begin? • The journey of Blockchain started in 1991 • A structure which was similar to that of Blockchain was mentioned in a research paper titled “How to Time-Stamp a Digital Document” in 1991 by Haber and Stornetta.
  • 7. Use Cases of Blockchain
  • 9. Blockchain Projects for Health Care Industries
  • 10. Type of Blockchain Public Private Consortium/Permissioned Network Type Decentralized Partially decentralized Partially decentralized * Hybrid between private and public blockchain What is it? * Anyone anywhere in the world can read and write on the network. * Data is validated by every participant ("node") in the network, thus making it very secure. * Permissions to read and write data onto the Blockchain are controlled by a single "highly trusted" organization - the owner of the blockchain. * Permissions to verify, read and write on the blockchain controlled by a few predetermined nodes. * The choice of predetermined nodes can be different for every entity on the blockchain.
  • 11. Type of Blockchain Public Private Consortium/Permissioned Benefits Secure as the entire network verifies transactions - Transparent as all transactions are made public with individual anonymity. * Efficient as verification is done by just owner of the blockchain. * Private as the owner can control who has access to read or write on the blockchain. * Efficient as relatively lesser nodes verify transactions. * Private as read and write access can be controlled by the predetermined nodes. * No consolidation of controlling power. Challenges * Inefficient al all nodes need to verify the transaction. * Controlling power is consolidated to a single organization. * Difficult to align many organizations to use the same blockchain.
  • 15. Blockchain Pros & Corns Corns Pros Complex technology Increased transparency Regulatory implications Improved security Increased anonymity Permanent public ledger Implementation challenges Reduced costs Difficult to understand Faster transaction time
  • 17. Application Layer There are mainly four types of blockchain wallets available to users. These are mentioned below: • Software Wallets • Web/Hosted Wallets • Hardware Wallets • Paper Wallets Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 18. Blockchain ParticipantsApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 19. What is Token? Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies! Tokens can represent any asset An hours worth of rooftop solar energy A currency such as dollar, euro, rupee, or GBP A promise for a product in a crowdfund A future download of a song from your favorite artist An insurance policy A ticket to an event Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 20. Blockchain TransactionApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 21. Block Structure: Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 22. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 23. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message Consensus • Proof of Work (PoW) • Proof of Stake (PoS) • Proof of Elapsed Time • Byzantine Fault Tolerance and variants 1. PBFT 2. SIEVE 3. Cross-Fault Tolerance (XFT) • Federated Byzantine Agreement 1. Ripple Consensus Protocol Algorithm 2. Stellar Consensus Protocol
  • 24. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message Consensus
  • 25. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 26. ValidationApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message 1. P2P Networks communication 2. Digital Signature-Public key and private key encryption 3. Replication of data at every node creates robustness
  • 27. The miner’s puzzle • The miner computes a secure hash over the block and includes the hash in the block. • The puzzle: The miner must find a nonce value to include in the block, such that the block's hash a prefix of N zero digits. - N grows with time a s computers get faster. - probabilistic proof of work. • Finding a nonce such that the first hash bit is zero is like flipping a coin: the odds are 50% for any random trial. - Each added zero bit reduces odds by a factor of 2. • A miner's win probability is proportional to its computer power. In this way, the next miner to publish is selected "randomly". Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 28. s Miners work hard to create blocks Blockchain miners take transactions from pool and try to bundle them into a block, which involves hashing the block header, which consists of: • Protocol version • Hash of the previous block • Timestamp • Nonce • Current hashing difficulty ("bits") • Hash derived from the transactions("Merkel tree") • A transaction is considered confirmed once it is included in a block- otherwise they are considered "orphans" and are ignored. • Most blockchain system clients will not verify a transaction until it is confirmed six blocks deep. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 29. Creation of a block 1. Block: Once confirmed a transaction is combined with other transactions to create a block. 2. Attaching the block: The new block is attached to the existing blockchain-it is permanent and cannot be altered. 3. Completion: The transaction is completed and stored on a public ledger. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 30. Creation of a blockApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 31. Creation of a blockApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 32. Node TypeApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 33. Node TypeApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 34. Application: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 35. Blockchain MessageApplication: - Wallet Decentralize Ledger: - Participants - Token - Transactions - Block Structure - Verification - Consensus - PoW/PoS - Validation - Mining - Blockchain Network: - Node Type - Message
  • 36. Blockchain Implementation Considerations • Governance • Data Privacy • Security • Scalability • Regulatory/Compliance
  • 37. Governance • Admission/qualification of network participations • Policy definition and administration • Data and interoperability standards • Dispute resolution • Change control
  • 38. Data Privacy • On chain vs off chain storage • Transparency vs privacy • Transaction data encryption • Data leakage
  • 39. Security • Key management (Issuance, revocation) • Lost/compromised keys • Unknown threat vectors • Decentralized Security
  • 40. Scalability • Requirements of compute, bandwidth and storage can lead to centralization • Viability of different consensus models
  • 41. Regulatory/Compliance • Impact of digital currency to systemic risk • Incorporation of AML/KYC into digital payments systems • Regulator access to data • New regulations required?
  • 43. Blockchain + IOT EcoSystem
  • 44. Blockchain Solutions New Blockchains now a days founding upon two terminology. 1. Blockchain As A Service (BaaS) 2. Blockchain Technology as a Service (BTaaS) Services: • Creating financial innovations based on BaaS • Integrate BaaS with BTaaS • BaaS provides new financial models as well as tamper-proof, open and transparent service (External) • BTaaS enhances the internal operational efficiency of enterprises
  • 45. Blockchain As A Service (BaaS) • Focuses on the process of business remodeling • Features universality • Uses existing blockchains • Open service Services: 1. Blockchain explorer 2. Trading platform for digital currency 3. Certificate-Factom 4. Digital identity-uPort
  • 46. Blockchain Technology As A Service (BTaaS) • Focused on technical process • Target specific scenarios • Build your own blockchain instances • Closed service Services: 1. A wide variety of services of private blockchain 2. Hyper-Ledger Fabric 3. Multichain
  • 47. References • Andreas Antonopoulos, Mastering bitcoin, 2014 • Dwork Cynthia, Lynch Nancy and Stockmeyer Larry 1988 Consensus in the presence of partial synchrony Journal of the ACM (JACM) 35 288-323 Crossref • Ongaro Diego and Ousterhout John 2014 In Search of an Understandable Consensus Algorithm (Extended Version) USENIX Annual Technical Conference (USENIX ATC 14) • Schwartz David, Youngs Noah and Britto Arthur 2014 The Ripple protocol consensus algorithm white paper, Ripple Labs • Hillborn Erik and Tillstrom Tobias 2016 Applications of smart-contracts and smart-property utilizing block chains Feb • Peters Gareth. W. and Panayi Efstathios 2015 Understanding Modern Banking Ledgers through Blockchain Technologies 18 Nov • Czepluch Jacob Stenum, Lollike Nikolaj Zangenberg and Malone Simon Oliver 2015 Use of block chain technology in different application domains 20 May • Kwon Jae 2014 Tendermint : Consensus without mining white paper • Lamport Shostak and Peace Marshall 1982 The Byzantine Generals Problem • Nakamoto Satoshi 2008 Bitcoin: A peer to peer electronic cash system
  • 48. References • Vukolic Marko 2015 The quest for scalable blockchain fabric: Proof-of-work vs. BFT replication Proc. IFIP WG 11.4 Workshop on Open Research Problems in Network Security (iNetSec 2015) • Nomura Research Institute 2015 Survey of block chain technologies and services • Snow Paul, Deery Brian, Lu Jack, Johnson David and Kirby Peter 2014 Factom whitepaper 17 Nov • Seibold Sigrid and Samman George 2016 Consensus – immutable agreement for the internet of value KPMG • Swanson Tim 2016 Consensus as a service: a brief report on the emergence of permissioned distributed ledger systems April • Mougyar William 2016 The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology • https://ripple.com/ • https://tendermint.com • https://block.gyft.com/ • http://swarm-gateways.net/bzz:/swarm/
  • 49. References • https://gem.co/ • www.the-blockchain.com/docs/LaZooz • www.everledger.io/ • https://streamium.io/s/blockchain-uni • https://www.augur.net/ • https://angel.co/bithealth • https://storj.io/ • https://coloredcoins.org/ • https://www.the-blockchain.com/ • https://blockchain.info/charts • https://www.ascribe.io • https://bitcoin.org • http://dotblockchainmusic.com/ • https://www.bigchaindb.com/
  • 50. [ … or Inbox me @ LinkedIn ]