BLOCKCHAIN HOW TO IDENTIFY GOOD USE CASES

Transcription

1 BLOCKCHAIN HOW TO IDENTIFY GOOD USE CASES A step by step approach Bruno Ciscato Senior Solutions Architect Red Hat Blockchain Summit, 28th November 2017, Olympia, London

2 AGENDA 5 steps and a comment about ICOs Multiple parties Networks and Assets Public vs Private Consensus Immutability Backing

3 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 3

4 STEP 1 Multiple parties It is now possible to build systems that are operated by multiple parties, none of whom fully trust each other, that nevertheless come into and remain in consensus as to the nature and evolution of a set of shared facts * *A Simple Explanation of Enterprise Blockchains for Cryptocurrency Experts 4

5 STEP 1 Multiple parties Possible reasons to prefer a blockchain solution over a trusted intermediary automatic reconciliation faster transactions new regulation simple inability to find a suitable intermediary *Avoiding the pointless blockchain project 5

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7 EXERCISE: A new RTGS system Executive summary 1 The Bank s vision for the renewed RTGS service is organised around five key features: higher resilience 3 Consistent with that goal, a renewed RTGS will continue to offer best-in-class resilience that is fully in line with international standards through dual-site operation with a third stand-by settlement platform. 7

8 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 8

9 STEP 2 Networks and assets Understand the business networks your company participates in and the asset classes that are relevant to it 9

10 The European Currency Unit or ECU, French pronunciation: [eky] 10

11 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 11

12 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 12

13 STEP 3 Consensus Rules and procedures that allow to maintain and update the ledger and to guarantee the trustworthiness of the records speed of transactions energy efficiency scalability censorship resistance tamper-proof *Ontology of Blockchain Technologies. Principles of Identification and Classification 13

14 STEP 3 Consensus *Ontology of Blockchain Technologies. Principles of Identification and Classification 14

15 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 15

16 STEP 4 Immutability Is immutability a desirable property for your use case? 16

17 STEP 4 Immutability From the New York Daily News, 2009: Correction: It has come to the attention of the Daily News that a number of statements in this article written for the Daily News by a freelance reporter are, or may be, false. Cornell University has told us that Shante did not receive any degree from it under either her birth or stage name[ ] 17

18 STEP 4 Immutability What happens if it is not? You now need an ancillary mechanism to mutate the facts and you need to secure it. It becomes the weak link in the chain (pun intended). 18

19 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 19

20 STEP 5 Backing Who stands behind the assets represented on the blockchain? * Remember, the Blockchain only stores a digital representation of your assets! *Avoiding the pointless blockchain project 20

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22 USE CASE BLOCKCHAIN DATABASE PUBLIC PRIVATE CONSENSUS IMMUTABILITY BACKING ICO? 22

23 MEANWHILE IN THE CRYPTOVERSE* Initial Coin Offerings (ICO) *Cryptoverse podcast, just a coincidence 23

24 ICOs vs IPOs Unsophisticated investors Sophisticated investors IPO VC funding t1 t0 History 24

25 ICOs vs IPOs Unsophisticated investors ICO t0 25

26 ICOs vs IPOs Unsophisticated investors Sophisticated investors ICO VC funding t1 t0 History 26

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28 THANK YOU plus.google.com/+redhat facebook.com/redhatinc linkedin.com/company/red-hat twitter.com/redhatnews youtube.com/user/redhatvideos