Blockchain technology has evolved from simply being a distributed ledger to having the potential to revolutionize many industries. Large corporations are exploring blockchain applications for financial services, supply chain tracking, and forming industry consortiums. Startups are also pursuing innovative uses of blockchain for areas like verifying product authenticity, cutting out middlemen, new financial models, and funding routes. The document outlines how governments around the world are also experimenting with blockchain for services like storing records, creating legal frameworks, and establishing standards.

1. BLOCKCHAIN:
EVOLUTION TO
REVOLUTION
Remington Ong
Partner
IITP Tech & Future Insight
Seoul, Korea
16 March 2017

2. WHAT IS BLOCKCHAIN?

3. IMAGINE IF YOU COULD…
Trace a chicken back
to the farm it came
from to ensure food
safety…
Share academic
research for peer
review before
experiment is done…
Let patients manage
their own healthcare
records and decide who
to share them with…

4. …lets people who have no
particular confidence in each
other collaborate without
having to go through a
neutral central authority.
Simply put, it is a machine for
creating trust.”
“THE BLOCKCHAIN…

5. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
HOW IT WORKS

6. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
HOW IT WORKS

7. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
HOW IT WORKS

8. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
HOW IT WORKS

9. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
HOW IT WORKS

10. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
BLOCKCHAIN
HOW IT WORKS

11. 1. STORE RECORDS
BLOCKCHAIN’S KEY FUNCTIONS

12. 1. STORE RECORDS
2. STORE/TRANSFER VALUE
BLOCKCHAIN’S KEY FUNCTIONS

13. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS

14. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
PROGRAMMABLE

15. DISTRIBUTED
ENCRYPTED
DATABASE
CONSENSUS
SMART
CONTRACTS
PROGRAMMABLE

16. 1. STORE RECORDS
2. STORE/TRANSFER VALUE
3. SMART CONTRACTS
BLOCKCHAIN’S KEY FUNCTIONS

17. BLOCKCHAIN
INTERNET
OF
THINGS
…
AI /
MACHINE
LEARNING
BLOCKCHAIN’S KEY FUNCTIONS

18. 1. STORE RECORDS
2. STORE/TRANSFER VALUE
3. SMART CONTRACTS
4. UNIFYING LANGUAGE
BLOCKCHAIN’S KEY FUNCTIONS

20. EVOLUTION TO
REVOLUTION

21. EVOLUTION:
GOVERNMENTS

22. DELAWARE
DELAWARE
Company incorporation records
GEORGIA
ESTONIA
DUBAI
ESTONIA
E-residency identity, healthcare
records
GEORGIA
Land titles
DUBAI
All government records by 2020
1. STORING GOVERNMENT RECORDS

23. ARIZONA
JAPAN
NEW YORK
ARIZONA
Passed bill to legalize blockchain
signatures and smart contracts
NEW YORK
First to issue BitLicense regulating
bitcoin companies
JAPAN
Passed bills to recognize bitcoin as
fiat currency and regulate bitcoin
businesses
2. CREATING LEGAL FRAMEWORK

24. 3. ESTABLISHING STANDARDS
AUSTRALIA
CHINA
CHINA
Ministry of Industry & Information
Technology (MIIT) issued a
whitepaper to collaborate with
companies to establish blockchain
standards
AUSTRALIA
Selected by the ISO to develop
global standards for blockchain
technology, with A$350k in public
funding committed by Australian
Treasury

25. FINTECH SANDBOXES
A growing number of jurisdictions,
notably in Asia, are creating so-
called “regulatory sandboxes” to
encourage experimentation and
innovation by fintech companies
exempt from certain regulatory and
licensing requirements at a small
scale, supporting the development
of financial applications in
technologies such as blockchain
4. REGULATORY SANDBOXES
UK
MY
TW
HK
AU
CA
SG
ID
TH
UAE

26. CENTRAL BANK
DIGITAL CURRENCIES
A number of central banks around
the world are researching, testing
or developing central bank-issued
digital currencies based on
blockchain technology
5. CENTRAL BANK DIGITAL CURRENCIES
UK
CN
AU
CA
SA
US ECB
RUSE
CZ
EC
UA

27. SURVEY OF GOVERNMENT LEADERS
In a survey of 200 government leaders in 16 countries published Feb. 2017:

28. EVOLUTION:
LARGE CORPORATIONS

29. FINANCIAL INSTITUTIONS

30. SUPPLY CHAIN TRACKING
World’s largest
company tracked pork
using blockchain
World’s largest shipping
company tracked
shipment using
blockchain
World’s largest mining
company

31. OTHER APPLICATIONS
Released a general
purpose interoperable
business blockchain
Building a blockchain-
based system for
auditing health records
Issuing P2P loans on
blockchain to support
supplier financing needs

32. BLOCKCHAIN CONSORTIA
GLOBAL REGIONAL INDUSTRY
Project Jasper (Canada)
Russian Banking Blockchain
Consortium
Digital Trade Chain (Europe)
India Bank-Chain
Consortium
Blockchain IoT
Consortium

33. IBM – 400 PROJECTS DEPLOYED

34. WANXIANG SMART CITIES

35. REVOLUTION:
STARTUPS

36. VERIFY AUTHENTICITY OF YOUR STUFF
Trace authenticity of
diamonds
Trace authenticity of
luxury fashion
Trace authenticity of
drugs

37. CUTTING OUT THE MIDDLEMAN
Social media platform
where users get paid
to create and curate
quality content
Open source online
repository to publish,
license, buy/sell music
P2P online marketplace

38. FUTURE FINANCIAL MODELS
App allowing anyone
to access / become a
human P2P ATM
Hedge fund allowing
data scientists to
crowdsource
investment strategies
P2P flight delay
insurance
Flight Delays Suck

39. AUTONOMOUS LIVING
Launched self-paying
EV charging stations,
with future integration
into autonomous cars
Allow future homes to
generate, store, buy,
sell their own electricity
Future companies that
fulfill missions by
crowdsourcing the best
ideas and people

40. NEW FUNDING ROUTES
1st blockchain platform
for smart contracts
$18m in 42 days
eSports platform where
players get rewarded
$5.5m in 10 mins
Prediction markets
platform
$5.2m in 45 days

41. WIDE RANGE OF APPLICATIONS
Payments
• P2P payments
• Cross border
remittances
• Microtransactions
• Interbank monetary
accounts
• Securities &
commodities
• Claims management
• Fraud detection
• P2P insurance
Settlement
& clearing
Supply
Chain
Insurance
Media
• Digital rights
management
• IP attribution
• Authenticity
verification
• Farm-to-fork
tracking
• Machine-to-machine
communications,
payments
• Autonomous car /
drone management
Consumer
goods
Healthcare
Internet of
Things
Government
• Voting
• Military / weapons
security
• Public records
management
• Audit trail for
company processes
• Self-enforcing smart
contracts
• Record management
• Decentralized
storage
• Decentralized DNS
• Distributed
computing
Legal / Audit Identity Computing
Real estate
Energy
… and so much
more …
• Trade finance
• Logistics tracking
• Authenticity
verification
• Title ownership &
transfer
• Mortgage-backed
loans
• Shared ownership
• Zero carbon
verification
• Carbon credits
tracking/trading
• P2P grid distribution
• Health record
management
• Prescription tracking
• Pharmaceutical
supply chain
• Know Your
Customer (KYC) and
Anti-Money
Laundering (AML)
• Identity Verification

42. BLOCKCHAIN:
EVOLUTION TO
REVOLUTION
Remington Ong
Partner
IITP Tech & Future Insight
Seoul, Korea
16 March 2017