3. The First generation of the digital revolution brought
us the Internet of Information. The Second
generation is bringing us the Internet of Value.
Technologies that are going to changes us going forward
4. ď§ A detailed look at a blocks
ď§ This block/previous block Hashes
ď§ Transactions
ď§ Events
ď§ Smart Contracts
ď§ Agreement
What is a blockchain?
5. ď§ Hash functions take any input and produce a single output
ď§ The same input will always yield the same output hash
ď§ It is not possible to derive the input from the output
ď§ Hash functions are critical to the way blockchains work
What is a Hash function?
000000572734
6. ⢠A blockchain is a ledger of digital events shared between all nodes on
the system.
What is a blockchain?
Node 4
Node 3
Node 1
Node 2
7. What is a blockchain?
Block 1575
Transaction:
Hash: 76f0ec56ce04423
Block Hash:
0000057ec2fda71
Block 1574
Transaction:
Hash: 8d0df86ffc15cd62
Transaction:
Hash: feb359ad27c907d
Previous Block Hash:
000000d68b2f0a3b
Previous Block Hash
00000057ec2fda71
Block Hash:
0000087ea2ffe94
Block 1576
Previous Block Hash
0000087ea2ffe94
Block Hash:
0000044bf2efe32
Previo
000000
Block:
000094
Previo
000000
Block:
000094
Made up of a series of blocks added in chronological order
11. Block/Previous Block Hash
Block 1575
Transaction:
Hash: 8d0df86ffc15cd62
Originator: 0x04bd4155ff5243e6
Recipient: 0x0d7e5445fe7589f9
Block Hash: 0000057ec2fda71
Block 1574
Transaction:
Hash: 8d0df86ffc15cd62
Originator: 0x06fd91d545105d5
Recipient: 0x04bd4155ff5243e6
Transaction:
Hash: feb359ad27c907d
Originator: 0x07dd71d507100c1
Recipient: 0x06fd91d545105d5
Previous Block Hash:
000000d68b2f0a3b
Previous Block Hash
00000057ec2fda71
Block Hash: 0000087ea2ffe94
ďŹ Acts like a pointer to the block that came
before it in the chain.
ďŹ A hash of all the data in the previous
block. ď¨ Merkel Tree
12. Previous Block Hash & âBlock 0â
Block 1575
Accounts:
Hash: 8d0df86ffc15cd62
Gas Limit: 2153
Mining Difficulty: xâ400â
Block 1574
Block Hash
000000a83b7e1e6f
Block 1
ďŹ Form the 'links' of the
chain, back to the genesis
(Block 0).
Block 0
Hash: 000000d68b2f0a3b
Transaction:
Hash: feb359ad27c907d
Originator: Alfa Romeo
Recipient: Beechvale Group
Previous Block Hash
000000d68b2f0a3b
13. Transaction details (logical)
Block 1575
Transaction:
Hash: 8d0df86ffc15cd62
Originator: LeaseCan
Recipient: Joe Payne
Block Hash: 0000057ec2fda71
Block 1574
Transaction:
Hash: 8d0df86ffc15cd62
Originator: Beechvale Group
Recipient: LeaseCan
Transaction:
Hash: feb359ad27c907d
Originator: Alfa Romeo
Recipient: Beechvale Group
Previous Block Hash:
000000d68b2f0a3b
Previous Block Hash
00000057ec2fda71
Block Hash: 0000087ea2ffe941) Interaction between
two participants
2) a Call to a Smart
Contract
âWhoâ Participated in the
transaction
15. Counter-party
records
Bank records
Party Câs Records Auditor records
Party B Records
Party Aâs Records
API-integrations
Incident
Inefficient, expensive, vulnerable
Ledger
Ledger
Ledger
Ledger
Ledger
Ledger
Problem - Difficultâ toâ monitorâ assetâ ownershipâ andâ transfersâ inâ aâ trustedâ businessâ network
16. Counter-party
records
Bank records
Party Câs Records Auditor records
Party B Records
Party Aâs Records
Consensus, provenance, immutability, finality
Ledger
Ledger
Ledger
Ledger
Ledger
Ledger
Participants have
multiple shared
ledgers
NOTE : Participants
same as before
Solution - A permissioned, replicated, shared ledger
17. Blockchain for Business
Smart
Contract
Privacy
Shared Ledger
ValidationEnsuring appropriate visibility;
transactions are secure,
authenticated & verifiable
Business terms embedded in
transaction database &
executed with transactions
All parties agree to network
verified transaction
Append-only distributed
system of record shared
across business network
Broader participation, lower cost, increased efficiency
18. Traditional Vs Consortium Approach
Empaneled Doctor A Empaneled Doctor B
Sales A
Insurer A
Sales B
Insurer B
Diagnostic Centre A
Diagnostic Centre B
Hospital BHospital A
Pandurang
Pandurang is looking forward to get his life insured
He is approached by an Insurance Company A
Insurance Company A, spends on empaneled doctor,
diagnostic center, hospitals in the process of acquiring
a new customer
Insurance Company A, Spends on the underwriting
process and on boards Pandurang as a Policy Holder
Pandurang is now approached by Insurance Company B
Insurance Company B, also spends on Empaneled
doctor, Diagnostic Centre, Hospitals in the process of
acquiring an existing insurance policy holder
Insurance Company B, Also spends additionally on the
underwriting process
Benefits of a Consortium ApproachTraditional Approach Traditional Approach
Improve discoverability
Shared trusted processes
Trusted recordkeeping
Reduce costs and complexity
Enhance efficiencies
Improved claims processing
Fraud detection & Prevention
Increased auditability
Auto reconciliation Create shared economy
19. Blockchain solutions will transform healthcare enterprises
and increase quality of care by enabling new ecosystemsâ
and new business modelsâto evolve. Healthcare information
stored in blockchain will change not only the way you store
clinical information, but how you share information within
your organization, with healthcare partners, payers, and most
importantly, with patients.
20. Insurance Eco System for Trading of Permissioned Health Records
Regulators
UIDAI
Healthcare
Providers
Insurance
Providers
Lawmakers
Diagnostic Centers
Suppliers / Dealers
Use existing infra, policies
to truly reach last mile in healthcare
Data driven
governance
Medical Records
Master
New insurance products that
reward diligence
Audit and regulations
Supply orders triggered
by smart contract events
PredictiveAnalytics for
patient care
Patient records
Wearables (IOT)
Policy Holders
Medical History
Lower premiums from trusted
records
Prescriptions
Financial
Institutions
Insurance premiums/payouts
triggered by events
Permissioned
Blockchain
Network
Pharmacy
Pharmacies/ Pharmacuetical
Companies
21. Disintermediation & trustless exchange
Information on the platform is Secure and Immutable and transparent ledgers
Auditability is built into the platform
Changes to the ledger is Consensus-based and transactional
Flexible and orchestrated
Accountability with obfuscation, achieving privacy through channels
Identity Management
Faster Transactions & Lower Transaction Cost
Repository for World Check, A Hybrid Blockchain in the making
Automated Reconciliation
Financing Decision
Fraud Reduction
Why Blockchain ?