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Blockchain opportunities and challenges
- 1. Re-engineering Trust Blockchain opportunitiesand challenges Blocklime Developers Whatsapp Group: https://bit.ly/2P4CgKl
- 2. CEO & Founder HarpreetSingh Maan The Speaker Copyright @ 2019 by Blocklime ● CEO and Co-founder of Blocklime ● CTO of Verificer ● National committee member on ISO standards for " Blockchain & Electronic Distributed Ledger Technologies". ● Malaysian Ambassador for Hedera Hashgraph and Hyperledger. ● I am is also a member of MDEC Digital Expert Panel to assist on DLT adoption in education & industry. He is also a Industry Mentor on the MDEC Digital Counsellor platform. ● Advisor & Trainer. He is also a well-known speaker & trainer on DLT & Blockchain development and advises enterprises & governments on DLT adoption strategies. In short, Techie turned Entrepreneur
- 3. Webinar Topic: Blockchainopportunities and challenges 50 Mins ( 40 Mins Presentation & 10 Mins Q&A) Learning Outcomes ● What is Blockchain? (briefly explanation) ○ What is Bitcoin? ● What are the new opportunities in this industry? ○ What are the opportunities in Malaysia ● What are the challenges of this industry?
- 4. What is Blockchain? Whyit exist?
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- 6. The rise ofBitcoin Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Ledger start: 3 January 2009 (11 years ago) Founder: Satoshi Nakamoto True value of Bitcoin ● A people’s digital cryptocurrencies ● Uncensorable & unbiased ● A system of decentralised trust
- 7. What is BlockchainTechnology? Blockchain technology is the earliest successful implementation of a Distributed Ledger Technology (DLT). Distributed ledger database is spread across several nodes (devices) on a peer-to-peer network, where each replicates (depends on protocol) and saves an identical copy of the ledger and updates itself independently. - Me
- 8. Types of ComputerSystems ?
- 10. In Short DLT isfor? ● Digitisation of trust ● Security ● Transparency ● Decentralisation & Democratisation of Governance. ● Temper resistance (not immutable ) ● Programmability & Trusted automations ● Easier Data access for participating parties
- 11. ● Up to99.98% uptime for 10 years ● More than 43 Million Users worldwide ● Running in a Open & Hostile Environment. ● DDoS attack, Sybil attack, SQL injections, Birthday Attack & Malware attack and many other attack resistance ● Simpler recovery and verification ● Data temperament resistant ● Standardised collaboration ● Reduced the cost of doing finance ● Became a mechanism for Digital Trust Let’s take Bitcoin Tale as an example.
- 12. What are the opportunitiesin the Blockchain Industry?
- 13. Trust Industries ● Finance ● Insurance ●Healthcare IT services ● Governance ● Compliance ● Supply chain ● Legal Services ● Property market ● Intellectual properties ● Resource management Human words please !
- 14. What i amsaying, new industries and business models will emerge which will disrupt the ways we have been doing things previously.
- 15. Decentralised Economy Decentralised Finance(DeFi) ● Payment ● Banking ● Insurance ● Credit providers ● Trading markets ● Lending ● Gambling ● Trade Financing ● Asset & Risk Management ● Financial Analytics ● Scoring & Compliance ● Security ● RegTech ● Insurtech ● FinTech ● KYC Services ● Integrators & others ● Gaming ● Esports ● Entertainment ● Social Media ● Data Market ● Digital collectables ● Digital Healthcare & Wellness services ● PropTech ● LawTech ● Decentralised Security ● Manufacturing Tech ● Transport and Drone Tech ● Media & Advertising ● EdTech ● TravelTech ● Digital governance ….. Many More Other Decentralised Industries
- 16. Malaysia 2020 News source: Techcryption, Fintech Malaysia, Soyacincau & Cointelegraph
- 17. Malaysia 2020 News source: Techcryption, Fintech Malaysia, Soyacincau & Cointelegraph All 3 exchanges full operations by 8 April
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- 19. Business Opportunities inthe Malaysian Blockchain Industry Financial services ● Crypto payment gateways & tools ● Crypto POS integrations ● E-wallet & card services integrations ● Remittance & global payment services ● Financial infrastructure for banking ● Royalties Programs ● Crypto Banking, Escrows and custodian services ● Crypto lotteries ● Crypto exchanges and investment services ● Decentralised Exchanges ● IEO Operator & IEO service providers ● Decentralised Finance (DeFi) ● Decentralised Insurance ● Financial literacy and education ● Crypto Lending services Other Opportunities ● Gaming ○ Digital collectable market and exchange ○ Dapp gaming ○ Gambling ● Esports ○ Team funding and collectables ● Entertainment ○ Social Media ○ Streaming Platforms ● Data Market ○ Self-sovereign data market ● Other Digital collectables ○ Digital art and jewelry trading market ● Digital Healthcare & Wellness services ● PropTech ○ Real estate investment trust (REIT) ● LawTech ○ Smart contract as a service ● Research and development ● Talent Development ● Online Voting ● Intellectual Properties
- 20. Implementation Challenges of Blockchain Thecurrent enterprise blockchain technologies lack the ever needed interoperability between all networks. Lack of proper methodology makes newer innovations full of flaws. Transforming all legacy networks with blockchain may require a lot of time and money. Mass adoption isn’t possible in reality yet as the network deals with slower output. There isn’t an adequate workforce with skillset to develop new enterprise- grade technology. Transforming the whole legacy network ecosystem may require more budget.
- 25. Blockchain talent isin high demand.
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