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Blockchain a tip of the berg by swathi & Jobin
- 1.
- 2. “The blockchain isan 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)
- 3. It islike a shared ledger A distributed database Transparent and incorruptible A network of nodes
- 4. 4 key features 1.Decentralized systems 2. A distributed ledger 3. Leading to a safer and secure ecosystem by providing tamper free environment 4. Minting
- 5.
- 6. Stuart and Scottpublished the concept of Cryptographic chain of blocks to store multiple documents in on block 1991 1998 2008 2009 2009 2010
- 7. 1991 Concept of Cryptocurrencywas introduced by Wai Dai 1998 2008 2009 2009 2010
- 8. 1991 Satoshi Nakamoto (Pseudonymous Personor Group of Persons) Published the concept of the Distributed Blockchain 1998 2008 2009 2009 2010
- 9. 1991 The First applicationbased on the Blockchain technology was developed called as – BITCOIN 1998 2008 2009 2009 2010
- 10. 1991 The First transactionof bitcoin takes place. Blockchain works 1998 2008 2009 2009 2010
- 11. 1991 The First purchasewas made through Bitcoins 1998 2008 2009 2009 2010
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- 13. How a typicalblockchain works …?
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- 20. Blockchain in reallife Dapps
- 21.
- 24.
- 26. Nature of smartcontracts 1. Deterministic. 2. Terminable. 3. Isolated
- 28. Ethereum is adecentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.”
- 30. EOS are aimingto become a decentralized operating system which can support industrial-scale decentralized applications. • They are planning to completely remove transaction fees. • They are claiming to have the ability to conduct millions of transactions per second.
- 31. It can beused to give access to financial services to billions of people around the world, including who don’t have access to traditional banking Banking and Payments
- 32. Banks are atforefront of Blockchain Research and patents
- 33. Supply Chain Management Transactionscan be documented in a permanent decentralized record, and monitored securely and transparently. It can also be used to monitor costs, labour, waste and emissions at every point of the supply chain.
- 34. Samsung and IBM areusing blockchain technology for a new concept called ADEPT, which will create a decentralized network of IoT devices Internet of Things
- 35. Energy Management Blockchain allows customers to buy andsell energy from each other in a peer-to-peer way Eg; TransactiveGrid using Ethereum
- 36. Ride Sharing The blockchaincan be used to create decentralized versions of peer-to-peer ridesharing apps, allowing both car owners and users to arrange terms and conditions in a secure way without third party providers
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- 39. Unrealistic expectations Uncharted regulatoryenvironment Energy consumption Monopolizing to a hands of few
- 40. ‘ Trust ’‘Trust ’ ‘ Trust ’
- 41. NO Trust Full Trust Thetrust gap.... Middle man trust gap....
- 42. NO Trust Full Trust Middleman trust gap.... Extended trust gap....
- 43. Firms spend $10 trillionperyear globally on “logistics”
- 45. If every partyto a transaction trusted the information involved, even though they dont trust one another, costs could fall and performance could improve drastically. That is the essence of the blockchain vision.
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- 49. T H AN K U
Editor's Notes
- #21 What are Dapps you might ask? Imagine having your car working away, transporting passengers while you’re at work. Imagine having your computer utilizing its spare capacity to serve businesses and people across the globe. Imagine being paid for browsing the web and taking ownership of your, arguably invaluable, attention. Imagine the world like that. That world is not far away. A paradigm shift in the way we view software models is approaching. When Bitcoin, the first cryptocurrency, made us reassess our definition of Store of Value (SoV), it also revealed a sneak peek of the future: a world running on decentralized applications (Dapps). These distributed, resilient, transparent and incentivized applications will prove themselves to the world by remapping the technological landscape.
- #23 https://coinmarketcap.com/
- #24 https://coinmarketcap.com/
- #27 Feature #1: Deterministic A program is deterministic if it gives the same output to a given input every single time. Eg. If 3+1 = 4 then 3+1 will ALWAYS be 4 (assuming the same base). So when a program gives the same output to the same set of inputs in different computers, the program is called deterministic. Un-deterministic data resources: Eg. Suppose a program that acquires the top 10 google searches of a particular query. The list may keep changing. Feature #2: Terminable there is an inability to know whether or not a given program can execute its function within a time limit. Turing Incompleteness: A Turing Incomplete blockchain will have limited functionality and not be capable of making jumps and/or loops. Hence they can’t enter an endless loop. Step and Fee Meter: A program can simply keep track of the number “steps” it has taken, i.e. the number of instructions it has executed, and then terminate once a particular step count has been executed Another method is the Fee meter. Here the contracts are executed with a pre-paid fee. Every instruction execution requires a particular amount of fee. If the fee spent exceeds the pre-paid fee then the contract is terminated. Timer: Here a pre-determined timer is kept. If the contract execution exceeds the time-limit then it is externally aborted. Feature #3: Isolated In a blockchain, anyone and everyone can upload a smart contract. However, because of this the contracts may, knowingly and unknowingly contain virus and bugs. If the contract is not isolated, this may hamper the whole system. Hence, it is critical for a contract to be kept isolated in a sandbox to save the entire ecosystem from any negative effects.
- #33 Provenance, Fluent, SKUChain, and Blockverify
- #37 Arcade City and La’Zooz.
- #40 3. Beyond the issue of trust, blockchains are subject to inefficiencies and extensive energy consumption they are unable to scale with rising transactions, making them subject to congestion and value fluctuation.
- #49 Kerala’s think-tank the Development and Innovation Strategic Council (K-DISC), and will use blockchain, as well as Internet of Things (IoT) technology, in an attempt to make the state’s supply network for dairy products, vegetables and fish more efficient.