My Talk on Potential of Blockchain technology on Digital economy and how it can maximum impact our legacy payment Gateway system

1. Tarun Chawdhury
Over 15+ years of industry experience in integration technologies, API, SOA and
Cryptography. Early adopter of Block chain and Digital Asset technologies.
Currently working one of the largest Health Care Company in USA Blue Shield of
California
Connect Me at:
https://www.linkedin.com/in/tarunchawdhury/
tarunchawdhury@gmail.com
Lets talk Blockchain Technology
The next big thing after internet
UIT , Burdwan University, WB, INDIA
Feb 9 , 2018

2. Why am I here?
I am passionate about technology and believe blockchain technology
has huge potential to transform our society and I have a vision to build
an universal blockchain platform aka Spiral Blockchain which will be
free, open source, non profit and free of Crypto Currency. I would like
to share my thought with you and if you believe what I believe may be
we can help each other.

3. How Internet Works
Internet or Internetwork comprise a number of ISPs who are coordinating with each other to route the
message to desired destination server. Internet is wire actually buried in the ground. It might be fiber optics,
copper or sometime Satellite. So in simple term Internet is a wire.
172.217.0.7
gmail.com
172.217.0.5
yahoo.com
ISP
Comcast
ISP
AT&T
Router
192.168.56.3
Router
192.168.56.3
172.217.0.6
facebook.com
Internet 172.217.1.4
172.217.1.1 172.217.1.2 172.217.1.3

4. Why Blockchain ?
To understand the need of Blockchain, lets take the best case study of Bitcoin which is first successful
implementation of Blockchain technology. Today when we (aka customer) go for a shopping in a retail store
like Walmart (aka provider) we typically use financial tools like credit card issued by a bank to complete the
transaction.
Customer
Retail
Store
Financial
Institution
(e.g. Bank)
Provider
Here between customer and provider we have bank who mediates the transaction i.e takes the money from
customer and route the same money to the provider. And this process takes time as it goes through other
clearing and compliance. Now the question why do we need a mediator here? Why can’t customer directly
send their money or asset to provider directly. The answer is TRUST. Customer and provider do not trust each
other. Provider wants to make sure customer’s asset is legitimate and real. So it takes help of financial
institution like Bank to mediate the process and record the transaction.

5. Why Blockchain ? Continue…
This process really worked well over the last few centuries. However this process has some huge
drawbacks
• It is slow because financial institution needs to make sure customer has money in their account.
Then it needs to move the same securely to provider’s account. This can not be done in real-time
because customer and provider account is maintain in two separate book or ledger maintained by
two separate entity.
• It does not support micro payment as Intermediaries like Bank impose a minimum fee on every
transaction.
• It is hackable or not secured. There is always a risk of fraud in this process and we need apply
active monitoring.
• Its is costly as it involves intermediaries, manual process requires active monitoring.
• It makes integration really difficult at global scale

6. Why Blockchain ? Continue…
Blockchain is a protocol that solves all these problem. It’s a technology which helps to maintain an
immutable distributed Digital Ledger in an Automated Fashion where no manual process involves.
Through Automation it established the trust and using Cryptography it makes sure security is full proof.
As it is automated it is fast. As there is no intermediaries, there is no minimum transaction fee which
make micro payment a reality
Customer
Retail
Store
Bitcoin
Blockchain
Network
Provider

7. Spiral Blockchain - Target Use Cases
In Bitcoin world Blockchain enabled transfer asset over IP. However blockchain as a technology has
implication beyond Digital Currency like Bitcoin. The same principal can be applied any use cases
which needs to maintain history of records through immutable data set for integrity and consistency of
the overall system. Few other potential use cases
Loyalty Points and Gift Card
University Result or Certificate Issuance
EHR – Patient’s Electronic Health Records System

8. What is Blockchain?
• Blockchain is a distributed database managed by a decentralized network of nodes where every participant in the
network potentially can have entire copy of the database
• The data structure of Blockchain is Hashed Linked List where every block can hold a certain number of transaction
in a Markel Tree and every block also has a hash pointer to the previous block
• Blockchain is immutable
• UTXO and Blockchain
Block 0
Block Hash = Markel Root Hash (H1)
Block 1
Block Hash = Markel Root Hash (H2)
Block 2
Block Hash = Markel Root Hash (H3)
UTXO1 UTXO2 UTXO3 UTXO4 UTXO5 UTXO5 UTXO6 UTXO7
UTXO – Unspent Transaction Set

9. Spiral Network & Block chain Platform

10. Spiral Network & Block chain Platform

11. Thank You