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© 2017 Bristlecone | www.bcone.com | Confidential
The TRUTH MACHINE
The Blockchain and the Future of Everything.
MICHAEL CASEY
Senior Advisor
Date: Oct 26, 2017
Digital currency initiative, MIT Media Lab
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
Why Us, Not Them?
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
TRUST
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
The Centralized Trust Model
© 2017 Bristlecone | www.bcone.com | Confidential
The Problem with Centralized Ledgers:
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
$
$ The Double-spend Problem
© 2017 Bristlecone | www.bcone.com | Confidential
$
$
© 2017 Bristlecone | www.bcone.com | Confidential
Solution: Decentralized Consensus
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
Credit: Oliver Wyman
The Blockchain: A Decentralized, Distributed Ledger
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
The First Use Case
The First Digital Asset
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
“Smart Contracts”
© 2017 Bristlecone | www.bcone.com | Confidential
Other Use Cases
• Securities Settlement
• Real-time auditing, notarization
• Property registries
• Artists’ rights management
• Internet of Things, decentralized energy
• Identity/reputation
• And … Supply Chains
© 2017 Bristlecone | www.bcone.com | Confidential
But Do I Need a Blockchain?
What is the cost of trust?
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
Beating the Tragedy of the Commons
© 2017 Bristlecone | www.bcone.com | Confidential
The Blockchain-Based Supply Chain
• Open infrastructure
• Unique (cryptographic) identity
• Registry of assets/ transactions
• Smart contracts
• Layers of functionality
• Trusted replication of information
• Real-time visibility (provenance)
© 2017 Bristlecone | www.bcone.com | Confidential
The Provenance Problem
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
Lives at Stake
© 2017 Bristlecone | www.bcone.com | Confidential
Efficiency Gains
Toward a Circular Economy
© 2017 Bristlecone | www.bcone.com | Confidential
Supply Chain Finance
Be Your Own Bank
© 2017 Bristlecone | www.bcone.com | Confidential
To Their Demand Chain
From Our Supply Chain…
© 2017 Bristlecone | www.bcone.com | Confidential
Challenges
• Garbage-in/Garbage-out
• Last-mile trust issues
• Scalability
• Transparency
• Legal/regulatory barriers
• Standards
• Herding all the cats…
© 2017 Bristlecone | www.bcone.com | Confidential
Or not to Permission?
To Permission?
© 2017 Bristlecone | www.bcone.com | Confidential
Don’t Think Present State…
© 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
Think Future State…
Marc Palumbo
© 2017 Bristlecone | www.bcone.com | Confidential
For any queries or suggestions, I can be reached at
www.michaeljcasey.com
michael@michaeljcasey.com
@mikejcasey
Thank You

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Michael J Casey at Bristlecone Pulse 2017, MIT

  • 1. © 2017 Bristlecone | www.bcone.com | Confidential The TRUTH MACHINE The Blockchain and the Future of Everything. MICHAEL CASEY Senior Advisor Date: Oct 26, 2017 Digital currency initiative, MIT Media Lab
  • 2. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential Why Us, Not Them?
  • 3. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
  • 4. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential
  • 5. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential TRUST
  • 6. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential The Centralized Trust Model
  • 7. © 2017 Bristlecone | www.bcone.com | Confidential The Problem with Centralized Ledgers:
  • 8. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential $ $ The Double-spend Problem
  • 9. © 2017 Bristlecone | www.bcone.com | Confidential $ $ © 2017 Bristlecone | www.bcone.com | Confidential Solution: Decentralized Consensus
  • 10. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential Credit: Oliver Wyman The Blockchain: A Decentralized, Distributed Ledger
  • 11. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential The First Use Case The First Digital Asset
  • 12. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential “Smart Contracts”
  • 13. © 2017 Bristlecone | www.bcone.com | Confidential Other Use Cases • Securities Settlement • Real-time auditing, notarization • Property registries • Artists’ rights management • Internet of Things, decentralized energy • Identity/reputation • And … Supply Chains
  • 14. © 2017 Bristlecone | www.bcone.com | Confidential But Do I Need a Blockchain? What is the cost of trust?
  • 15. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential Beating the Tragedy of the Commons
  • 16. © 2017 Bristlecone | www.bcone.com | Confidential The Blockchain-Based Supply Chain • Open infrastructure • Unique (cryptographic) identity • Registry of assets/ transactions • Smart contracts • Layers of functionality • Trusted replication of information • Real-time visibility (provenance)
  • 17. © 2017 Bristlecone | www.bcone.com | Confidential The Provenance Problem
  • 18. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential Lives at Stake
  • 19. © 2017 Bristlecone | www.bcone.com | Confidential Efficiency Gains Toward a Circular Economy
  • 20. © 2017 Bristlecone | www.bcone.com | Confidential Supply Chain Finance Be Your Own Bank
  • 21. © 2017 Bristlecone | www.bcone.com | Confidential To Their Demand Chain From Our Supply Chain…
  • 22. © 2017 Bristlecone | www.bcone.com | Confidential Challenges • Garbage-in/Garbage-out • Last-mile trust issues • Scalability • Transparency • Legal/regulatory barriers • Standards • Herding all the cats…
  • 23. © 2017 Bristlecone | www.bcone.com | Confidential Or not to Permission? To Permission?
  • 24. © 2017 Bristlecone | www.bcone.com | Confidential Don’t Think Present State…
  • 25. © 2017 Bristlecone | www.bcone.com | Confidential© 2017 Bristlecone | www.bcone.com | Confidential Think Future State… Marc Palumbo
  • 26. © 2017 Bristlecone | www.bcone.com | Confidential For any queries or suggestions, I can be reached at www.michaeljcasey.com michael@michaeljcasey.com @mikejcasey Thank You

Editor's Notes

  1. Smart contracts- The fact that we now have a way to transfer digital ownership in a trusted manner allows something else as well – to transfer this ownership based on rules. This programmatic transfer of funds is very valuable, as it allows to remove a lot of intermediaries, friction, and ultimately cost. Cryptographic identity- with a public and a private key. Dual factor Identification- Who you are & what you know Registry of assets & transactions with a time stamp- the process of securely keeping track of the creation and modification time of a document, is an indispensable tool in the business world. It allows interested parties to know, without a doubt, that a document in question existed at a particular date and time. Real time visbility- With a shared, distributed ledger, everyone has access to the same, up-to-date information. New records can only be added when known participants have consensus on the validity of a transaction.