Blockchain Knowedlge Sharing (revision 3)
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The document provides an agenda for a knowledge sharing session on blockchain technology. It discusses key concepts like Bitcoin, what blockchain is, different types of blockchain networks, applications of blockchain technology including for money remittance and supply chain management. It also covers smart contracts and includes quotes from industry experts on the potential for blockchain to transform industries by enabling the "Internet of Value".
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Blockchain Knowedlge Sharing (revision 3)
- 1. Blockchain - Knowledge Sharing AIS Channel Team @Auditorium, SC Tower 13-9-2018
- 2. • Blockchain Technology • What’s Bitcoin? • Why Bitcoin is disruptive? • What’s Blockchain? • What is Smart Contract? • Public vs Private Blockchain • Internet of Value • Blockchain Application • Blockchain for Money Remittance • What’s next? • Free Gift… Today Agenda Vorapoap Lohwongwatana Blockchain Enthusiast Online Business Director@TMC
- 4. Locomotive Act 1861, 1865
- 5. Ask who?
- 6. “เทคโนโลยีตัวนี้ทำลำยตัวกลำง ตัวกลำงที่มีอยู่ในระบบกำรทำธุรกรรมต่ำงๆ มันไม่มีควำม จำเป็นอีกต่อไปถ้ำเรำสำมำรถเอำ Blockchain เข้ำมำใช้ เช่น กำรทำสัญญำต่ำงๆ กำรโอนเงิน กำรเปิดบัญชีโอนเงินต่ำงประเทศ ซึ่งมันมีวิธีเยอะแยะที่จะสำมำรถใช้ เทคโนโลยีตัวนี้” “อย่ำงที่ผมบอก ข้อมูลมันถำวร ตั้งแต่อำยุของรถคันนี้เริ่มขึ้นจนรถพัง ข้อมูลจะอยู่กับรถคัน นี้ตลอดว่ำใครใช้เมื่อไหร่อย่ำงไรบ้ำง อีกทั้งมันปรับแก้ไม่ได้ทำให้มันมีควำมน่ำเชื่อถือ ไม่ เกิดกำรคดโกงกัน และมันเป็นสำธำรณะมันมองเห็น” ธนาธร จึงรุ่งเรืองกิจ ว่าที่หัวหน้าพรรคอนาคตใหม่
- 7. “Blockchain is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one,” Sally Davies Technology reporter @ Financial Times
- 8. “We will never hear about people's Bitcoin accounts being frozen or seized by a government agency.” Roger Ver Early Bitcoin Investor, owner of bitcoin.com
- 9. “People ask me, ‘Are you going to sell your bitcoin [for fiat]?’ and I say, ‘Why would I sell the future for the past?’” “I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces” Tim Draper American venture capital investor @600$ 30,000 2014 pd 10,000$ 2017 pd 250K 2022,
- 10. Vitalik Buterin Founder of Ethereum “In order to have a decentralised database, you need to have security. In order to have security, you need to have incentives.”
- 11. Virtual currencies - This is not about digital payments in existing currencies (Paypal, Alipay, etc..) • Too volatile at the moment, so no risk to current fiat / bank • Good for countries with weak institutions and unstable national currencies • Maybe one day easier and safer than obtaining paper bills • No settlement risk • No clearing delays • No central registration • No intermediary to check account and identities Christine Lagarde MD@ International Monetary Fund
- 12. Why Bitcoin is disruptive?
- 14. Micro Payment & Transfer 1 BTC = 100,000,000 Satoshi
- 15. Unbanked
- 16. No Commission No Credit Card Fraud, Charge-back Risk (Irreversible) Global Payment Network Wikipedia Expedia, Payment Disruption ? Not internet centric
- 19. History of Money
- 20. History of Money 1500 1880-1914 WW1 1925-1931 1939-1945 1944-1971 1971 2008+ Gold was recognized a standard medium of exchange international trade Classical Gold Standard Breaking down of the Gold Standard Gold Exchange Standard World War 2 Bretton Woods System USA control 2/3 of world gold USA abandoned the Gold Standard (Under President Nixon) USA QE EU QE JAPAN QE
- 21. Blockchain and Bitcoin • Introduces Scarcity to Digital Assets • Enables World Without Intermediaries Blockchain
- 22. So what is Blockchain?
- 23. Source: Wallstreet Journal Disruptive Technology AM Radio, 1920s Television, 1950s Telephone Color TV, 1960s Internet, 1990s PC, 1970s Cellular Phone, 1990s
- 24. Disruptive Technology 1970s Mainframe 1980s PC 1990s Internet 2010s Blockchain 2000s Social Media First layer of Internet Instant Information Transfer Internet of Information Second layer of Internet Instant Value Transfer Internet of Value TCP/IP Blockchain
- 26. Internet of Value You can’t copy money Satosh Nakamoto solved “Double Spent Problem”
- 27. • Decentralized • Distributed Ledger • Immutability ง่ำยๆก็เหมือน ทุกๆคนในเครือข่ำย ถือสมุดบัญชีเล่มเดียวกันหมด และแก้ไขไม่ได้ ใครจะมำเติมรำยกำรบัญชี ก็จะเพิ่ม(เกือบจะ)พร้อมกันๆทุกคน Blockchain Characteristic
- 28. How Bitcoin works (UTXO) UTXO Unspent Transaction Output Chain of spending cheques https://davidederosa.com/basic-blockchain-programming/scripts-in-transaction-
- 29. https://bitcoin.org/bitcoin.pdf Recipient’s Address Hash is calculated from 1. Hash of Previous Tx 2. Input Address(es) 3. Output Address(es) , 4. Transacted Value Digital Signature = Hash signed by transaction owner Stored locally in sender’s device How Bitcoin works (Transaction)
- 32. ประกำศกำรค้นพบ ยืนยันว่ำถูกต้อง อ้ำงอิง Block ก่อนหน้ำ https://nuuneoi.com/blog/blog.php?read_id=900 How miner work (3)
- 33. • https://live.blockcypher.com/btc/ • https://www.blockchain.com/explorer • https://explorer.bitcoin.com/btc • https://blockexplorer.com/ 100% Transparency https://www.blockchain.com/btc/block/0000000000000000000740b2d9bb8450f16d8bd3b4815a27d9766125a8e42c3f
- 35. Blockchain Layer Source: https://www.slideshare.net/Experfy/blockchain-technology-fundamentals Prabhu Eshwarla
- 36. How does Blockchain Work? Source: https://www.slideshare.net/Experfy/blockchain-technology-fundamentals Prabhu Eshwarla
- 37. Miner gets incentive by helping securing the network Consensus: Proof of Work
- 38. Other Consensus
- 39. What is Smart Contract?
- 40. First Generation Store of Value Distributed Ledger Second Generation Smart Contract Decentralized Application Generation of Blockchain
- 41. Smart Contract Address TX IN TX OUT Smart Contract – Perfect for Financial Goods Perform simple actions such as 1. Redistribution 2. Issuance 3. Locking and unlocking Perfect fit for services handling security/derivative/digital assets
- 42. Smart Contract – Real World’s Simple Use Cases We call the part interact with real world : Oracle Smart Contract Smart Contract Smart Contract
- 43. Smart Contract – Digix 1# ผู้ค้ำ (Vendor) จะเอำทองคำไปเก็บไว้กับผู้รับฝำทรัพย์สิน (Custodian) และมีผู้ตรวจสอบ (Auditor) ผู้ค้ำจะได้ใบรับรองที่เรียกว่ำ Proof of Asset โดยจะมี ลำยเซ็นต์ดิจิตัลของ Vendor, Custodian, และ Auditor 2# ส่วนที่สองคือกำรพิมพ์ (Mint) DGX Token ออกมำ โดยในกระบวนกำรนี้ผู้ค้ำจะส่ง Asset Card ไปที่ Minter ซึ่งจะรับ Asset Card ไว้และออก Gold Token ส่งคืนให้ผู้ค้ำ โดย 1 Gold Token เป็นตัวแทนทองคำ 1 กรัม 3# DGX Tokenสำมำรถถูกส่งไปหลอม (Recast) กลับเป็น Ownership Card ซึ่งเมื่อได้มำแล้วก็สำมำรถนำไปแลกเป็น ทองคำจริงๆ จำกผู้รับฝำกทรัพย์สินได้
- 44. Road to Internet of Value
- 45. “Web 1.0 was about publishing information, web 2.0 was about interaction, and web 3.0 is going to be about value transfer on the internet” Brian Armstrong Coinbase CEO
- 46. Internet of Money Bitcoin, Ripple, Litecoin, Dash, Monero, ….
- 47. • Gold (Digix) • Diamonds (Everledger) • Food Traceability • E-KYC • Health-care • Bond Registry • Stock Registry • Insurance Industry • Gambling • Trade Finance Internet of Asset
- 48. Debt Financing (Bank Loan) Equity Financing Crowd Funding Initial Public Offering Initial Coin Offering Initial Coin Offering
- 49. Internet of Entity Traditional Centralized Entity
- 51. ICO Time-lapse (video) Blockchain is shifting INTERNET of Information to INTERNET OF VALUE
- 52. ICO Time-lapse
- 53. Internet of Value Interoperable (Cross chains) Internet of Blockchains
- 54. New Opportunity • Blockchain Developer • Blockchain Engineer • Blockchain Application Developer https://hackernoon.com/blockchain-jobs-and-salaries-2018-report-45d3e7741c19 • Blockchain as a Service (BaaS) • ICO Advisory
- 59. Blockchain Application Real World Usage?
- 60. Smart Dubai 3 Pillars of Smart Dubai • Government Efficiency • Paperless • Visa application • Bill payment • License Renewal • Industry Creation • Real estate, • Fin-tech and banking • Healthcare • Transportation • Urban planning • Smart energy • Digital commerce • Tourism • International Leadership
- 61. E-Estonia Daily 17,000 police queries 50x more effective Yearly +500,000 queries
- 62. GuardTime – KSI Blockchain KMITL & NBTC to deploy its blockchain technology as an integrity foundation layer for applications developed under Thailand’s digital economy 4.0 initiative. https://guardtime.com/blog/verizon-to-deploy-blockchain-platform-based-on-guardtime-technology
- 63. Thailand – National Digital ID Program https://thaicryptoclub.com/main/2018/02/19/etda-national-digital-id-with-omise/
- 64. ฝ่ำยจัดซื้อ ฝ่ำยผลิต …… ฝ่ำยขำย ทันทีที่ของขำยที่ผลิตขำยออกไป App จะบอกให้ฝ่ำยจัดซื้อสั่งซื้อวัตถุดิบใหม่ได้ทันที แต่นี่มันไม่ต้องทำบน Blockchain ก็ได้นี่! ลดกำรโกงและข้อผิดพลำด เพิ่มควำมสำมำรถในกำรจัดกำร Inventory ลดควำมล่ำช้ำจำกเอกสำร ลดค่ำขนส่ง อื่นๆๆๆ Sample App: for Single but Very Big Organization
- 65. ฝ่ำยจัดซื้อ ฝ่ำยผลิต …… ฝ่ำยขำย ผู้ผลิตรำยย่อย บริษัท ขนส่ง Auditor บริษัท ประกันภัย ชิปปิ้ง ลูกค้ำ Ideal App for Blockchain
- 67. Modern Supply Chain -Provenance Attestations
- 68. Modern Supply Chain -Provenance AttestationsModern Supply Chain – Environmental monitoringModern Supply Chain – Environmental monitoring
- 69. Modern Supply Chain – Dispute resolution
- 70. Transform Financial Service Trade Finance • Error from manual processes • Siloed data lead to fraud, compliance, and audit risks • Disconnected legacy systems • Simplify Integration Between Banks, KYC • Reduce Compliance Cost • Reduce Fraud Risk • New Business Opportunity Commercial Insurance • Siloed info, Lack of standardization • Lack of real-time visibility into location and condition • Difficulty of accurate underwriting and pricing • Inefficient, paper-based tracking mechanisms • High incidence of fraud and financial crime • Reduce frictional cost, admin burden, faster payment reconciliation • Indisputable audit trail, lower fraud risk • Improve data quality and real-time visibility • Accurate and fair underwriting pricing • Better risk assessment Regulatory Compliance • Duplicative and siloed data sources • Time-consuming, manual review, reconciliation, and auditing processes • Maintaining data lineage across multiple systems • Risk of data breach at multiple steps in the process • Report in Consistent Format • Secured Recording • Aggregation of traditionally silo data sources CURRENT PAIN BLOCKCHAIN EFFECT
- 71. Transform Financial Service Claim Processing • Time-consuming and expensive process • Differing opinions between a claimant, insurer, broker, adjuster, and more • Customer frustration • Threat of insurance fraud • More Accurate through history • Integrate all parties, reduce conflicts • Automatic disbursement when criteria are met, • Reducing hassle for beneficiary • Reduced risk of fraudulent claims B2B Contract Processing • Time-consuming creation process for all parties • Often requiring multiple in-person visits to the bank • Repetitive verification process for any changes to the agreement • Heavy dependence on physical documents, which run the risk of getting lost • Superior customer experience, as customers no longer have to make multiple bank visits • Faster and easier document verification and approval • Increased security and ease of access for documents
- 72. HyperLedger
- 73. Election on Blockchain August 2018, Japan trialed the use of blockchain technology in its voting system https://cointelegraph.com/news/blockchain-and-elections-the-japanese-swiss-and-american-experience
- 74. Blockchain for Financial Institution (vs existing)
- 75. แสนสิริผนึกบีซีพีจี เปิ ดโครงการนา ร่องแลกเปลี่ยนไฟฟ้ าสะอาดแบบ เรียลไทม์ด้วย Blockchain Peer-to-Peer Energy Exchange Power Ledger
- 78. https://medium.com/@matteozago/50-examples-of-how-blockchains-are-taking-over-the-world-4276bf488a4b
- 79. So which app is good with Blockchain?
- 80. • Similar thing can be implemented on (traditional) centralized technology (Client-server Application) • There is at least trustful party which can provide the centralized platform • No party can fully trust each other • Security and Immutability • Perfect transparency • Replacement of old tech that require open standard. Blockchain overkill if… What does Blockchain fit? Blockchain Application Summary
- 82. Traditional Money Remittance 1. Alex goes to his local hawala agent and gives him some cash and a password, which he and Beth share. 2. The agent telephones Beth's local agent and tells him to release funds to someone who can provide the password. 3. Beth walks in to her agent, says the password, and receives cash. Commissions can be taken from either or both agents. • Alex has to trust that his agent will do the right thing, as he is handing over cash. • Beth has to trust that her agent will do the right thing, as she is expecting to receive cash. • The agents need to trust each other over the repayment of the debt (IOUs).
- 83. Look at Ripple
- 84. OmiseGo • Real Time Transaction • P2P Finance Transaction • Cross currencies/assets • Cross national borders • Cross corporate ledger =
- 85. Why OmiseGo’s Vision is so important? Unbanked the banked • It will disrupt the current payment landscapes • Enable user to trade any value (currencies, store loyalty, points, rewards, in-game point) efficiently and at low cost across internet “Cross-platform transactions means grocery points could one day be exchanged for air miles.”
- 86. OmiseGo – Road Map This is the most important component in my opinion
- 90. So what’s next?
- 91. We are here!
- 93. Blockchain Adoption Summary of Finding • Efforts to Leverage the Decentralized Bitcoin Security Architecture to Create and Develop a Truly Democratic, Open and Decentralized Internet Economy: The Cornerstone for Growth in the Market • Built for Disruption, Blockchain Rides High on Benefits such as Decentralized, Distributed, Tamper Proof, Proof of Existence, and Permissionless • Development of Global Standards and Governance Guidelines to Spur Blockchain into a Mainstream Alternative Technology for Funds Transfer • Immutable, Open Ledger Characteristics to Make Blockchain Valuable in Supply Chain Management • Government Interest in Blockchain for Protecting Critical Infrastructure Against the Backdrop of Strong Proliferation of e- Governance to Benefit Market Growth https://www.strategyr.com/MarketResearch/ViewInfoGraphNew.asp?code=MCP-5001
- 95. Blockchain Adoption 1. The survey was conducted online between Nov. 14 and Dec. 1, 2016. It polled an initial sample of 554 respondents, then focused on 308 senior executives in the U.S. at companies with $500 million or more in annual revenue who completed the full survey and responded that they have at least a broad understanding of blockchain as well as familiarity with and ability to comment on their company’s blockchain investment plans. https://deloitte.wsj.com/cio/2017/01/30/blockchain-adoption-varies-by-industry/
- 96. https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alternative-finance/downloads/2017-04-global-cryptocurrency-benchmarking-study.pdf Payment Adoption We collected data from a sample of 48 companies from 27 countries that are providing payment services that involve the use of cryptocurrencies (Figure 63). All fve world regions are represented, with one third of partcipants based in the Asia-Pacifc region and another third based in Europe. In terms of countries, the US and the UK are leading with each country serving as home to 15% of payment service providers, followed by South Korea (10%).
- 103. 21M wallets (Dec 2017) 26M wallets (July 2018) Bitcoin Wallet Source: blockchain.info
- 104. Your future customer
- 105. Free Gift
- 106. Cryptocurrency 200 Gold 7,700 Global Stock 73,000 Global Money Supply 90,400 Derivative 544,000 Global Market Value (Billions USD) Large room to grow!
- 107. This chart takes a few month in crypto
- 108. Funny Indicator
- 109. Bitcoin on Logarithm Scale
- 110. Question?Thank you very much
- 111. Bitcoin vs Dollar
Editor's Notes
- World War I PH, China, INDIA, Mexico , Indonesia 30% Economy 15% Western Union 5 cent – internet 515 B$
- 8 decimal points
- World War I PH, China, INDIA, Mexico , Indonesia 30% Economy 15% Western Union 5 cent – internet 515 B$
- 2.5B people unbanked M Pesa Kenya
- 2.5B people unbanked M Pesa Kenya
- 2.5B people unbanked M Pesa Kenya