A meet up on “Blockchain, NFTS and Cryptocurency: A primer for exciting technology developments” was organized on 25th June 2022 where our esteemed CEO, Dr Ravi Chamria, covered the latest buzzwords in web 3.0. He dived into the basics of blockchain technology, cryptos, NFTs, and also gave a short glimpse into the future of web 3.0. The benefits from the revolutionary technologies – blockchain, NFTs and cryptos were extensively covered in the meet-up to help attendees understand the Blockchain Evolution, which is still at its early stages and the kind of impact it promises to make in our lives! He also spoke of how “Decentralized finance” DeFi would become mainstream and drive the global economy in the years to come.
Streamlining Python Development: A Guide to a Modern Project Setup
Webinar – Blockchain, NFT, Crypto & DeFi – A Primer for these exciting developments
1. Blockchain, NFT,
Crypto & DeFi
A Primer for these exciting developments
Dr. Ravi Chamria (CEO - Zeeve)
2. Dr. Ravi Chamria
Blockchain Investment
CAGR (2019-27)
20+ years experience in IT consulting and tech products
spanning across Web3, Fintech, InsurTech, Supply Chain and
eCommerce
Executive MBA from IIM Lucknow.
Thought leader on emerging technologies like Blockchain, IoT
and AI/ML.
3. Web 1.0: The read-only
web
ZEEVE - WHAT WE DO AND HOW WE DO
Web 2.0: The participative
social web
Web 3.0: The read, write,
and execute web
The first version of the Web
consisted of a few people creating
web pages and content and web
pages for a large group of readers.
Web 2.0 describes the current state
of the internet, which has more
user-generated content and
usability for end-users compared
to its earlier incarnation, Web 1.0.
Web3 is built on a foundation of the
ideas of decentralization,
openness, and user utility. It allows
computers to interpret information
like humans via AI and ML.
4. • Web3 is envisioned as returning data ownership to end-
users via decentralization.
• The ambition of Web3 is to construct new web protocols
and infrastructure that should enable developers to build
applications where users bring their own data and
identity is no longer bound to any one platform.
• A decentralised web is based on a peer-to-peer network
that is built on a user community. Instead of a group of
powerful servers, this group's own internet-connected
nodes would host websites or apps. Each website or
programme is dispersed among hundreds of nodes on
various devices.
Decentralization
5. Web 1:
The Information Economy
1990 - Read
Web 2:
The Platform Economy
2000 – Read + Write
Web 3:
The Ownership Economy
2010 – Read + Write + Execute
6. Blockchain basics
• Block + chain: A block is a set of transactions
that happen over the network. The chain is
where blocks are linked to each other in a
way that the next block contains hash of the
previous one.
• Blockchain is a distributed ledger technology
that enables digital assets to be transacted
and traded in near real time. The record it
keeps is permanent and irreversible.
7. How wedo
Blockchain prevents fraud and illegal behavior by
establishing a record that is encrypted end-to-end
and cannot be changed. On the blockchain, privacy
concerns may be handled by anonymizing personal
data and using permissions to restrict access.
Information is kept over a network of computers
rather than on a single server, making data access
harder for hackers.
Security
Why Blockchain?
Blockchain generates an audit trail that records an
asset's origins at each stage of its transit.
Traceability
Transactions and data are recorded identically in
many places because blockchain employs a
distributed ledger. All network members with
authorized access view the same information at the
same time, ensuring complete openness.
Transparency
Traditional paper-intensive procedures are time-
consuming, prone to human error, and often require
third-party intervention. Transactions may be
performed quicker and more effectively by
simplifying these procedures using blockchain.
Because there is no need to reconcile numerous
ledgers, clearing and settlement may be completed
considerably more quickly.
Speed and efficiency
8. 5
PUBLICBLOCKCHAINS PERMISSIONED BLOCKCHAINS
A public blockchain is a permissionless blockchain.
Anyone may join the blockchain network and read,
publish, and participate in the public blocks. Public
blockchains are decentralized (no one controls the
network) and safe (data cannot be altered once
verified).
Benefits of Public blockchain
A private blockchain, on the other hand, is one that has
been authorized. Authorized networks limit who may
use the network and what transactions they can do.
Benefits of Permissioned blockchain
Open Read and Write: Anyone can participate
The ledger is distributed
Immutable
When something is written to the block, it cannot be changed
Secure, due to mining (51% rule)
Enterprise controls resources and access to the blockchain
Faster transactions
Better scalability
Compliance support
More Efficient Consensus
9. Tokenisation
• A token is a representation of a particular
asset or utility. Within the context of
blockchain technology, tokenization is the
process of converting something of value
into a digital token that’s usable on a
blockchain application.
• Assets tokenized on the blockchain come in
two forms. They can represent tangible
assets like gold, real estate, and art, or
intangible assets like voting rights, ownership
rights, or content licensing.
• Practically anything can be tokenized if it is
considered an asset that can be owned and
has value to someone and can be
incorporated into a larger asset market.
10. • More Liquidity: Once tokenized, assets can be made available to a much
larger audience, which increases market liquidity and removes the “liquidity
premium” associated with investments that are traditionally more difficult or
time-consuming to sell, like fine art or real estate.
• Faster, Cheaper Transactions: Crypto tokens allow investors to bypass
market intermediaries and other middlemen who are typically involved in
the traditional asset management process. This effectively reduces the
transaction costs and processing time of each exchange, allowing for a
more streamlined, cost-efficient method of transferring value.
• Transparency and Provability: Because crypto tokens live on the blockchain,
users can easily trace their provenance and transaction history in a way
that is cryptographically verifiable. Transactions can be automatically
recorded on the blockchain, and the immutability and transparency
enabled by blockchain technology helps guarantee the authenticity of each
token’s stated history.
Benefits of Tokenization
11. Distributed Ledger
Client A
Client B
Client D
Client C
Node A
Node B
Node E
Node D Node C
There are multiple ledgers, but Bank holds the
“golden record”
Client B must reconcile its own ledger against that
of Bank and must convince the Bank of the “true
state” of the Bank ledger if discrepancies arise.
There is one ledger. All Nodes have some level of
access to that ledger.
All Nodes agree to a protocol that determines
the “true state” of the ledger at any point in time.
The application of this protocol is sometimes
called “achieving consensus.”
12. How wedo
Tokens
Traceability
In layman's terms, fungibility refers to the ability of
an asset to be replaced or exchanged. A fungible
asset may be replaced or exchanged for another
indistinguishable portion.
Fungibility
It is the polar opposite of fungibility, something that
is one-of-a-kind and irreplaceable. A non-fungible
item cannot be readily replaced, such as an
autographed book or a rare antique coin.
Non - Fungibility
Fungible Non-Fungible
Physical
Digital
14. NFT
NFT stands for a non-fungible token, which means it
can neither be replaced nor interchanged because it
has unique properties.
Digital Asset - NFT is a digital asset that
represents Internet collectibles like art, music, and
games with an authentic certificate created by
blockchain technology that underlies
Cryptocurrency.
Unique - It cannot be forged or otherwise
manipulated.
Exchange - NFT exchanges take place with
cryptocurrencies such as Bitcoin on specialist
sites.
16. Who Can Create NFTs?
Technically, anyone can create NFTs, however,
that does not mean that all NFTs will get a high
value during the sale.
Many NFT marketplaces allow any user to create
their own NFTs, but the users need to have a
reputation within the community to earn a good
value for their work.
A higher social media presence and a fan base
are the highest factors in determining an NFTs
value.
17. Axie Infinity Opensea Sorare
Popular NFT Projects
CryptoPunks Decentraland NBA TopShot
18. • NFTs can help artists to fight plagiarism as they can tokenize their
creations, which can’t be copied.
• Luxury goods can be verified by making them NFTs and giving
ownership to the buyer only.
• Manufacturing companies can tokenize their products in order to
offer provenance to their consumer base.
• Institutions can offer NFT-based certifications and licenses to
authenticate a person’s educational background.
• NFTs can stop counterfeiting tickets and merchandise issues
within the sports industry.
• Games can tokenize in-game items for players and give them
ownership over those items.
Use Cases of NFTs
19. NFTs – Some Examples
Various objects have been sold as NFTs by
many. The CEO of Twitter, Jack Dorsey, sold his
first tweet as an NFT. Elon Musk sold a song
about NFTs as an NFT. Jack Dorsey listed his first
tweet as a unique digital signature on a website
called "Valuables by cent" meant for selling
tweets as a non-fungible token (NFT). In other
words, the buyers were bidding for his
autograph.
20. • Digital Content - The most significant use of NFTs today is in digital content.
Content creators see their profits enhanced by NFTs, as they power a
creator economy where creators have the ownership of their content over to
the platforms, they use to publicize it.
• Gaming Items - NFTs have garnered considerable interest from game
developers. NFTs can provide a lot of benefits to the players. Normally, in an
online game, you can buy items for your character, but that’s as far as it
goes. With NFTs, you can recoup your money by selling the items once
you’re finished with them.
• Investment and Collaterals - Both NFT and DeFi (Decentralized Finance)
share the same infrastructure. DeFi applications let you borrow money by
using collateral. NFT and DeFi both work together to explore using NFTs as
collateral instead.
• Domain Names - NFTs provide your domain with an easier-to-remember
name. This works like a website domain name, making its IP address more
memorable and valuable, usually based on length and relevance.
Benefits of NFTs
21. 5
How Safe Are NFTs? Security Flaws
The security level of NFTs is like any type of digital
asset and is very close to cryptocurrencies.
All the NFTs are stored on the blockchain platform
where the ledger is immutable making it
impossible to delete or alter the ownership
Blockchain offers robust security protocols and
eliminates the scope of cyber attacks.
Recently, Nifty Gateway was attacked by third
parties, and they stole millions of dollars worth of
art. Nifty Gateway could ultimately return the
items to respectful owners.
Security issues within user authentication are the
main source of recent cyber-attacks on NFTs
Users not using multi-factor authentication
processes and weak passwords, or PINs are
leading to these security issues.
22. Why Are NFTs so Popular? NFTs started to become mainstream in 2017, but
we saw a massive surge in NFT popularity only in
2020.
Only during Q1 2021, the industry resulted in $1.5
billion in transactions, which is 2.627% more
compared to Q4 2020.
NFTs are more fluid and flexible compared to
other cryptocurrencies such as Ethereum or
Bitcoin. You can transform any type of asses into
an NFT.
Users can lose, break or destroy physical assets
or collectibles. But NFTs can’t be destroyed or
stolen. Once a user gets ownership, they can
own it forever.
NFTs are a different take on digital assets which
is quite innovative and easier for non-technical
people to understand and take part in.
NFTs can not be duplicated, so no one can
misuse the intellectual property of an artist.
24. Finance 1.0
This is the traditional financial system, which
began with the establishment of banks and fiat
money. We enter the finance 1.0 era, when people
began putting their money in banks because they
believed banks were more secure than their
homes. People began to earn a return on their
investment (ROI) by putting their money in the
bank, believing that this was the ultimate financial
system that we could have.
Slow transactions, long queues, high transaction
fees, time-consuming, the possibility of error (as
things were controlled by humans), problems with
borderless transactions, robbery, scams, and
other issues with finance 1.0 became apparent
over time.
There was no technology in finance 1.0, and all
paperwork was handled by humans. The records
were kept in register books, which had the risk of
being lost or damaged.
25. Finance 2.0
After technology meets finance 1.0, finance 2.0
emerges. Now that everyone has a mobile phone and
access to the internet, they can manage all their
financial activities such as money transactions,
balance inquiries, complaint registration, money
requests, account opening, and so on.
Many types of third-party payment network processors
or payment gateways, such as PayPal, Visa,
MasterCard, and others, have been introduced in the
era of finance 2.0 to make sending or receiving a
payment easier, more convenient, and possible from
home.
The financial system is still not open to the public or
under their control. It still has a lot of flaws, such as a
centralised system that stores all the user's data on a
centralised server, which often leads to data leakage.
Users must pay money in the name of different
transaction/processing fees/charges, and users have
no control over the money in the bank. The bank can
freeze or invest user funds at any moment in order to
generate a profit.
26. • Finance 3.0 is an open financial system that allows customers
more power and minimises or eliminates the intermediary, fees,
charges, and penalties, among other things. Finance 3.0 is a
permissionless system that is not bound by geographical
boundaries or social groups.
• To power finance 3.0, we can embrace blockchain technology,
which can provide a finance 3.0 system with scalability,
transparency, security, and other benefits.
Finance 3.0
27. DeFi’s advantages over conventional
centralised finance include:
Transparency: DeFi allows users to look into the
specific rules that govern the operation of
financial assets and products. Private
agreements, back-deals, and centralization are
all major barriers to transparency in CeFi, and
DeFi seeks to eliminate them.
Control: In order to maintain ownership over its
users’ assets, DeFi ensures that no one may
censor, relocate, or destroy the users’ assets
without the users’ permission.
Accessibility: While the blockchain and its
distributed network of miners effectively
administer any DeFi application, anybody with a
computer and an internet connection can create
and deploy DeFi products.
Does not offer any
transparency
Dependent on
institutions and
employees
Does not offer any
globalized application
Comes with an
access restriction
Tradition
Finance
Offer transparency for
codes
Does not require
employees or
institutions
Offers decentralized
application for
finance
No access restriction
Decentralized
Finance
Does not have any
open-source
programs
Provides open-source
algorithms
Key Differentiators
28.
29. Benefits of DeFi
Offers applications that are immutable.
Once data gets verified and added, no one can alter it.
Offers full customization to smart contracts.
Can Not Be Tampered
Typically uses public blockchain which is a fully transparent network.
Every user takes part in verification and thus any updates are
broadcasted to them
Offers full customization to smart contracts.
Fully Transparent Network
Most DeFi technology uses Ethereum’s standards and protocols
Due to similar standards, the applications are interoperable.
Developers can introduce new features on top of the old DeFi
application model which also streamlines interoperability.
Interoperable Design
All DeFi technologies have permissionless access.
It can offer rights to anyone around the world.
There are no restrictions based on their location.
Permissionless Access
These applications don’t empower organizations.
It’s more geared to users and users have utmost control.
One needs to use crypto wallets and maintain their own
account themselves
User Empowerment
30. Offers solutions for network users to manage their assets
Heterogenous Cloud Deployments
Blockchain Analytic and Real time Monitoring
Asset Management
31. Offers Know-Your-Transaction mechanism instead of KYC
protocol
Focuses on transaction behaviors to enforce AML and CFT
measurements rather than user identity
Monitors transaction in real-time without disrupting
user privacy
Complying to AML & CFT
Measurements
32. Can perform traditional tasks such as acting as
governance, managing assets, fundraising, etc.
These are decentralized in nature and do not have
boundaries like centralized organizations.
Helps to establish decentralized administrative
entities for managing core operations
Decentralized Organizations
33. Helps to discover and analyze data more easily for the users
Users can use the data to make knowledge business decisions
Helps to discover a new type of financial opportunity and risk
management tactics
Analytics and Risk Management
34. Uses smart contracts to automate and introduce the
creation of token-based derivatives
These assets can work like traditional commodities, fiat
currencies, bonds, stock prices, market indexes, and so on
dYdX, Synthetix, etc. are applications geared
towards tokenized derivatives
Derivatives and Synthetic
Assets
35. Offers improved digital identity system that can act as a
global identity
Can provide attributes such as connection to financial
activities and certifications
Helps the underprivileged to get access to financial
features from anywhere
Improved Digital Identity
36. DeFi offers infrastructure development tools that can
connect and interoperate with each other
Developers can utilize these applications to develop
blockchain infrastructure
InfuraAPI, TruffleSuite, etc. are applications geared
towards infrastructure development
Infrastructure Tooling
37. Gets rid of the abundance of paperwork, bureaucratic and
cumbersome insurance claiming procedures
Offers automated smart contracts to streamline the
insurance claiming process
Nexus Mutual, VouchForMe, and Opyn are DeFi
applications geared towards insurance coverage
Insurance
38. It’s created a new type of borrowing and lending marketplace
Offers P2P networks for borrowing and lending applications
Compound and PoolTogether are DeFi applications geared
towards interest-based protocols
P2P Borrowing and Lending
39. It can serve the underbanked and unbanked population
around the world
It can offer safer, faster, and transparent solutions
compared to traditional systems
Doesn’t require any middleman and can make
payments more transparent and simpler
Payment Solutions
40. Challenges of DeFi
Low Performance High User Error
Bad User Experience Scattered Ecosystem
Smart Contracts Bugs Low Scalability
Oracle Manipulations Volatile Nature
42. Virtual Reality
In October 2021, Facebook rebranded itself as "Meta" in
order to develop its own version of the metaverse,
spending $10 billion to do so. "Horizon Worlds," their
major virtual reality game, is a collaborative world-
building playground that can be accessed with Meta's
Oculus headset; it went live in December 2021 after an
invite-only testing period.
Oculus was the #1 Free App in Apple's App Store on
Christmas Day, demonstrating the return of interest in
experiencing the metaverse in the form of virtual
reality.
VR is a kind of immersive virtual universe that allows
you to touch, feel, and move around in a digital
environment using headsets and haptic technologies
43. • Pokemon GO (developed by Niantic) grabbed everyone's
attention in 2016, with 232 million users at its height and an
augmented reality experience at its heart. Players may wander
around the real/physical world to catch Pokemon that appeared
in the app on their phones.
• Snapchat has long been known for its AR-first strategy and filters.
Only 0.08% of their customers purchased their AR device,
Spectacles, in 2017, and they're no longer for sale; only AR artists
on their platform have access to them. Their Lens Studio (AR
division), on the other hand, has 200,000 artists who have built 2
million lenses for their 200 million DAUs. Every day, users of the
Snapchat app utilise lenses to augment their view of the world.
Augmented Reality
AR is an interactive experience in which computer-generated objects
and surroundings are superimposed over the real world.
44. How wedo
Traceability
This is the metaverse's most open
interpretation. Avatars, skins, economies, and
social networks in traditional games may all
be considered metaverses.
Digital Reality
45. Metazens: Citizens of the Metaverse
Consider metaverse a place where they will be free
to play, have fun, and explore independently
Lack creativity in what they expect from the
metaverse
Willing to pay for experiences that involve gaming,
socializing, and working
Interested in experiences specific to the metaverse,
such as virtual events, simulations, and digital
objects
Invest in cryptocurrencies at 3X the rate of the
general population, and 5Xs as much in virtual real
estate and in NFTs
See the volatility of virtual assets as an opportunity
to win big
More likely to use Instagram, TikTok, and Snapchat
Spend more time socializing in games
47. Zeeve is one of the leading
innovator in the Blockchain space.
Our full-stack Blockchain Platforms
and Products help developers build
next-generation networks and
enable enterprises to launch more
powerful Web3 distributed
infrastructure and applications.
5+
Years of Blockchain
Experience
75+
Technology&
Subject Matter Experts
Trusted by the World’s
Leading Organizations Blockchain
4+
White labelled and on-premise
deployments
30+
Blockchain Production
Deployments
25+
Ready Blockchain Products,
Extensions and Plugins
10,000+
Zeeve BaaS Platform
Users
48. EARLY TRACTION
Zeeve BaaS Platform is trusted by 10,000+ developers and 25+ Enterprises and Blockchain Consortiums
Early Traction & Customers
49. PARTNERS AND ASSOCIATIONS
Zeeve has partnered with the key organizations across the world…
HyperLedger
Foundation
Linux
Foundation
Microsoft EEA R3 Corda Fluree
Writers
Information
Intel DragonChain Valid
Deloitte
Blockchain
Development and
Consulting
58. USA Dubai India
Zeeve Deeptech Pvt Ltd
1283, ATS Greens, Sector-93A
Noida, India 201304
Zeeve Technologies Ltd.
2001, Regal Tower, Business Bay,
Dubai, UAE
Zeeve Inc.
395 Santa Monica Place, Unit 308,
Santa Monica, California - 90405
Address
Contact
http://www.zeeve.io
Email: success@zeeve.io