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Kieren James Lubin Ethereum Apps


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Kieren James-Lubin explains the Ethereum platform and highlights a number of applications being created with it.

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Kieren James Lubin Ethereum Apps

  1. 1. Ethereum Overview and Applications By Kieren James-Lubin, BlockApps
  2. 2. Presentation Overview • Introduction to Ethereum Technology • Scaling the Ethereum Blockchain Ecosystem • Using Ethereum to Disrupt Different Industries
  3. 3. Introduction to Ethereum Technology
  4. 4. About Me: Kieren James-Lubin • PhD candidate in Mathematics at UC-Berkeley • Organizer of O’Reilly Bitcoin & the Blockchain Summit • Head of the Cryptocurrency Research Group • Contributor to the Ethereum Haskell Client • Founder and Chief Product Officer of BlockApps
  5. 5. About BlockApps • Built the Ethereum Haskell implementation • A scalable Ethereum compliant platform for rapid development, deployment and management of enterprise blockchain applications. • The platform enables enterprises to rapidly develop early Proof of Concepts (PoCs) and scales all the way to full production systems. • Partnered with Microsoft and Ubuntu
  6. 6. What is a Blockchain? ● A blockchain is an cryptographically secured, distributed ledger ● Transactions on the blockchain are kept permanently and are signed using public-key cryptography. They are then ordered in blocks ● Every block is reviewed by network participants or nodes (on public blockchains they are known as “miners”). A block is written when the nodes agree via a consensus algorithm that the data inside is accurate without a central authority ● Blocks are not easily produced. Nodes on a public chain perform complex calculations to earn the right to publish a block. This provides a measure of spam or sybil tolerance
  7. 7. Bitcoin vs Ethereum Blockchains = =
  8. 8. The Flexibility of Ethereum • The Bitcoin blockchain is limited in functionality by design to focus on currency transfer • Ethereum generalizes this by adding a Turing- complete native scripting language and execution environment (Ethereum Virtual Machine) • Ethereum transactions can include executable code and persistent storage (comprising Smart Contracts) Solutions across many industries and use cases
  9. 9. Business Benefits of Ethereum • Rapid prototyping of business use cases • Transactions confirmation efficiencies (from days to seconds) • Immutable record keeping • Secure records that can be publicly available • Automates many back office functions Banks could save $20b annually - Santander Bankcorp
  10. 10. Application SDKs Developer tools for rapid prototyping and deployment on STRATO or public blockchains Connectors Customizable enterprise blockchain client designed for scalability and integration with legacy systemsConsortium Blockchains Public Blockchains Open source implementation of the public Ethereum client written in Haskell Ethereum as a Technology Platform EthereumH STRATO REST API & Blockchain Web bloc Mobile nimbus
  11. 11. Scaling the Ethereum Blockchain Ecosystem
  12. 12. Blockchain Ecosystem • Public Blockchains • Trust-less because anyone can join as a participant • Must be expensive and difficult to publish a block to prevent fraud and spam (Proof of Work/mining) • Examples include Ethereum and Bitcoin • Permissioned Blockchains • Includes Intra Blockchains, Partner Blockchains and Consortium Blockchains • Only verified participants are allowed to publish blocks • Can be much faster than public networks • Private Blockchains • Also called Developer Sandboxes • Designed for rapid application development, instant deployment, and single- enterprise deployment solutions
  13. 13. Public Ethereum • Not • All participants on the public Ethereum are equal • By default, information about transactions and contracts are exposed to everyone
  14. 14. Intra Blockchains • Not • Enterprises can keep their business logic private by having their own permission blockchains • But how do you collaborate with your extended network of partners?
  15. 15. Partner & Consortium Blockchains • Not • Companies form Partner Blockchains to securely transact without revealing their holdings and strategy to third parties • Consortium Blockchains facilitate industry wide, collaborative business interaction
  16. 16. Using Ethereum to Disrupt Different Industries
  17. 17. An open platform to support rights management for the creative industries, keeping track of intellectual property and automating royalty payments. Disrupting Music
  18. 18. Current Music Rights Payments 50% 50% Non-US Music Service $100 Local PRO 10-20% US PRO 4-10% Publisher 50% Songwriter $54-65 • Payments must travel through a complex web of intermediaries • Payments to the artists can take 1 to 3 years to settle
  19. 19. Ujo Music • Creators publish ownership information and use policies • Payments are delivered instantly
  20. 20. A Smart Contract powered Triple Entry Accounting system Disrupting Accounting
  21. 21. • Each counter-party of a transaction will have a "Debit" and a "Credit" on their own books to reduce errors • If the books don't match, who has the correct set of numbers? Double-Entry Accounting
  22. 22. Triple-Entry Accounting
  23. 23. • The transaction uses a smart contract that acts as a signed receipt that is linked from the individual ledgers of each counter- party. • Using Ethereum, the payment logic (in code), the pointer to the supporting documentation, and the receipt can all be one smart • Proposed by Ian Grigg (the modern version) using financial cryptography. Triple-Entry Accounting
  24. 24. • Peer-to-Peer Energy Transaction and Control • Microgrid Intelligence System for Energy built on Ethereum Disrupting Energy
  25. 25. While energy production is rapidly being decentralized with solar panels, energy distribution is still centralized Rise of Micro-Grids
  26. 26. Surplus energy physically flows from house A to B to be compatible with existing Regular Meters, but local accounting at Smart Meter is different: Smart Metering: • Solar Surplus = Energy Credits • Energy Credits traded in a local Microgrid • Energy Market based on smart contracts Transacting Energy with Locally
  27. 27. In Summary • Ethereum is a computing platform, not just a cryptocurrency • Ethereum ecosystem spans enterprise, consortium and public blockchains • Ethereum powers applications across many industries
  28. 28. Thanks!