Blockchain is an incorruptible digital ledger that can record transactions of value such as financial or other transactions. It transitions trust from entities to trust in an algorithm through cryptography, blockchains, and consensus algorithms. This allows for decentralized trust and even anonymous transactions. Blockchain has evolved from cryptocurrencies like Bitcoin to include smart contracts on platforms like Ethereum that allow many use cases across private, consortium, and public networks. It could revolutionize how we think about concepts like money, organizations, social networks, and trade.

1. What is Blockchain
Why a Trustless Trust Algorithm can Change the World

2. Revolution Started After the 2008 Financial Crash
Bitcoin the first Blockchain based decentralized crypto currency was designed by
Satoshi Nakamoto in 2009. His identity is still unknown.
“The blockchain is an incorruptible digital
ledger of economic transactions that can be
programmed to record not just financial
transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)

3. Trustless Trust
Transition from Trusting an Entity to Trusting an
Algorithm.
Now we can even transact anonymously.

4. Centralized Trust to Trustless Decentralization
Trust is built into the design through Cryptography, Blockchains,
Consensus & Proof-of-work Algorithms.
Source: IBM

6. Blockchain Evolution
First Generation
Bitcoin, ZCash (new): Cryptocurrencies
1.5 version
Colored Coins : Multiple cryptocurrencies on same network
Second Generation
Ethereum, Chain, Hyperledger: Smart Contracts
Many Blockchain networks for specific use cases.
Private, Consortium and Public Networks.

7. Rethink Everything
Rethink Money
Rethink Firms & Organizations
Rethink Social Networks
Rethink Trade (P2P, B2B)

8. Rethink Money
Money is an artificial instrument to :
Store Economic Value
Measure Economic Value (Accounting Unit)
Transfer Economic Value
USD will LOSE VALUE
SWIFT & VISA are implementing Blockchains

9. Rethink Organization
Firms and Organization are a group of individuals who have
opted to come together, centered around an economic
activity, to create an economic value greater than the sum of
the individual contributions.
Borderless Communities governed by DAO

10. Rethink Social Networks and Trade
Blockchain enabled truly unmediated and secured
transactions between two or multiple entities governed and
enforced by Smart Contract algorithms powered by
Cryptocurrencies .
Aggregators are the Potential Road Kills:
Amazon, Flopcart, Ebay, Facebook, Uber, OLA

11. All is Well?
First Generation Problems:
Mt. Gox, Dark web, Ranson wares, Silk road, Money laundering... Multiple
blockchain economic offenders arrested.
Less than 1000 entities (mostly Chinese) control 60% of Bitcoins.
Next Generation Frauds:
Ethereum DAO hijack. DDOS attack. Both resulted in hard forks.

12. It’s Time to Rethink!