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Blockchain For Your Business by Kenneth Cox (codeHarbour July 2019)
- 1. Blockchain For Your Business With Kenneth Cox
- 2. Blockchain for Your Business Kenneth Cox Snapwire Software www.snapwire.co.uk
- 3. Agenda - Bitcoin – Evolution of Money - The Difference between Bitcoin and Blockchain - How Blockchain Works - Blockchain Benefits Over Traditional Databases - Case Studies - Your Business Case
- 4. Quick Intro to BlockchainJP Morgan’s Jamie Dimon called Bitcoin a “Fraud” Warren Buffett calls it a “Delusion” and “Rat Poison Squared” Multiple Exchanges have been hacked and millions stolen
- 5. "Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value" Eric Schmidt, CEO of Google“[Virtual currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.” Ben Bernanke, Chairman of the Federal Reserve“Know that folks also were sceptical when paper money displaced gold.” Lloyd Blankfein, ex-CEO of Goldman Sachs
- 7. The Difference between Bitcoin and Blockchain
- 8. How Blockchain Works - Only possible with Modern Technology and Distributed Networks - Inherently builds Trust in a Trustless world - Secure Transaction Between 2 Parties - Transaction Details are Distributed To ALL Participants
- 9. How Blockchain Works https://anders.com/blockchain/ (approx. 17 mins)
- 10. How Blockchain Works Centralised Account Mgmt (i.e. Banks) - Single record - Easily corrupted - Expensive regulation and policing required Distributed Account Mgmt (Anyone) - Multiple stakeholder verification - Secured cryptographically - Inexpensive and Immutable
- 12. Blockchain Benefits Over Traditional Databases - Data Cannot be Altered or Deleted - Consensus Guarantees Security - Publicly Verifiable
- 13. Case Studies
- 14. Case Studies
- 15. Case Studies Payments Land Registry Asset Management Healthcare https://www.ibm.com/blockchain/use-cases/ Trade Personal Identification Oil & Gas Fashion
- 16. Your Business Case - Transparency - Security - Auditability / Traceability - Distributed - Smart Contracts
- 17. Your Business Case - A Competitive Advantage - Real-World Uses in many Industries (not just Finance!) - Great for Marketing and Publicity (Let’s face it – it’s a buzz word!) FACT A report by PwC in August 2018 stated 84% of respondents are actively involved with Blockchain
- 18. A Recap… - The Difference between Bitcoin and Blockchain - How Blockchain Works - Blockchain Benefits Over Traditional Databases - Case Studies - Your Business Case
- 19. Feel free to contact me about a Blockchain idea… Or any other Software, Web and/or Mobile requirements Schedule a FREE 15 minute consultancy call @ https://app.hubspot.com/meetings/kenneth-cox www.snapwire.co.uk 01622 235369 kenneth.cox@snapwire.co.uk YOUR TECHNOLOGY PARTNERS
Editor's Notes
- Good Evening ladies and gents - My name is Kenneth Cox and I own a software company called Snapwire Software – “a results-focussed technology solutions provider” So who’s heard of blockchain? And bitcoin? Cryptocurrencies? …So what are some of the things we’ve heard about them? - it’s a ponzi scheme and can’t be trusted? - is it that they’re not backed by anything and therefore worth nothing? - or is it that it’s a bubble ready to pop at any time All valid concerns which we’ll cover in this talk! I would like to give you a crash course in Blockchain, the technology behind bitcoin, and why you should start considering it for your business!
- Scam, bubble, CRAZY – but you don’t all look crazy, couepl of you do….. So why should this be something to consider for your business when people like…. Jamie Dimmon Warren Buffet Multiple exchanges have been hacked and tens of millions stolen. I’d like to take you back to 1993 – a quieter time, there was no twitter, no facebook , no snapagram – just the beginning of the internet….and here’s a quote….
- anyone know who said this? So here’s a few in favour of cryptocurrencies….the CEO of Google, the Chairman of the Federal Reserve – I’ll you take those top two in…. But for me, the key one is the one by the ex-CEO of Goldman Sachs – “People were sceptical when paper money displaced gold” . So before money, before gold, people used to BARTER – trade goods and services directly. A farmer would barter sheep for tools, for example, Could you imagine a farmer walking down the high street to the Apple store to barter for the latest Iphone….this sight would be more common and incredibly inconvenient… So moving on…
- BITCOIN Leading digital currency, main of others exist (inc. Facebooks Libra which will be released in 2020) Gave birth to Blockchain Technology Investment in Bitcoin is speculative, price can go up and down Decentralised, no-one owns the IP BLOCKCHAIN Revolutionary Cryptographically secure Technology Now a technology in it’s own right, but has BTC to thank for it’s birth Used for middleware in many different environments, not just cryptocurrency Can be centralised or decentralised based on the function – will cover some use cases for blockchain The Blockchain doesn’t need Bitcoin, but Bitcoin DOES need blockchain Some comments on Blockchain, unfortunately at the moment, it’s hard to differentiate the two….
- Blockchain is only possible due the advances of technology and cryptography. Without the internet and our understanding of mathematics, this would not be possible. Trust is difficult to earn and keep, it is expensive and prone to fraud – Why do we use banks? Do you trust them? (to a point) it’s because they are heavily regulated, however, this is incredibly expensive and still we have financial crime. Do you think the current banks are 100% secure? What if we had a system where fraud detection and correction is inherently automated and immutable – can anyone name me a technology that can do this? Additionally, the entire ledger is available to all involved parties – this means fraud is virtually impossible as a fraudulent party would be easily detected.
- Blockchain Benefits Over Traditional Databases Case Studies – How Blockchain Can Help My Business
- Blockchain Benefits Over Traditional Databases Case Studies – How Blockchain Can Help My Business
- Blockchain Benefits Over Traditional Databases Case Studies – How Blockchain Can Help My Business
- Blockchain Benefits Over Traditional Databases Case Studies – How Blockchain Can Help My Business