BLOCKCHAIN IN PRACTICE

Transcription

1 BLOCKCHAIN IN PRACTICE Matthew Van Niekerk Cassandre Vandeputte 1

2

3 THE BIG BLACK BOX OF BLOCKS? We always overestimate the change that will occur in the next 2 years and underestimate the change that will occur in the next 10. Don't let yourself be lulled into inaction - Bill Gates

4 FROM CENTRALIZED TO DISTRIBUTED

5 MULTI-LAYERED SYSTEM DESIGNS Distributed Ledgers Consensus Layer Mining Layer Propagation Layer Semantic Layer Application Layer Protocol that describes the format of a ledger and a consensus function. The protocol must also allow new blocks to be added to the ledger. Protocol that incentivizes parties to maintain the consensus and add blocks to the ledger. Protocol that determines how the ledger and blocks are transmitted between nodes in the network. Specification of how new blocks must relate to previous blocks and a protocol for verifying conformity with the specification Application code that implements the desired functionalities

6 SMART CONTRACTS AND BLOCKCHAIN: ENTREPRISE ETHEREUM ALLIANCE

7 SMART CONTRACTS FOR BUSINESS LOGIC

8 SMART CONTRACTS FOR BUSINESS LOGIC Wat are Smart Contracts? Sets of software codes with components designed to automate execution and settlement. Constitute the applications that makes much of the benefits of blockchain technologies a reality. Contain If-Then-Else-Do

9 DYNAMICS OF A BLOCKCHAIN TRANSACTION TRANSACTION REQUESTED Network Users request Transactions to be executed TRANSACTION AUTHORIZED Network Peer Computers analyze past Transactions on the blockchain ledger with specific algorithm/methodology For example: Proof of Work verification (hash algorithms that generates random numbers) Consensus Verification (agreement among majority of qualified software systems) TRANSACTION EXECUTED Upon Authorization, value and assets change ownership TRANSACTION RECORDED The entire Transaction (including asset ownership and timestamp) is cryptographically recorded in the ledger.

10 EXAMPLES OF INDUSTRIES BLOCKCHAIN DISRUPTS

11 HOW TO EVALUATE THE BLOCKCHAIN ADDED VALUE

12 SUCCESSFUL BUSINESS IMPLEMENTATIONS Guiding questions for blockchain use cases: Science of Cryptography and Data Structure Technical Legal Compliance with Law and Regulations in the Industry? What are the implications and advantages to existing business models and processes? Business Organizational How is the Data distributed? Who is authorized and responsible for adding and block chaining the data? How is integrity secured and verified?

13 IS IT A BLOCKCHAIN USECASE?

14 RESISTANCE TO CHANGE

15 EXAMPLE: GLOBAL PAYMENTS Key Participants

16 EXAMPLE : GLOBAL PAYMENTS Current-state Process

17 EXAMPLE : GLOBAL PAYMENTS Current-state pain points

18 EXAMPLE: GLOBAL PAYMENTS Future-state Process depiction

19 EXAMPLE: GLOBAL PAYMENTS Future-state Benefits

20 EXAMPLE: GLOBAL PAYMENTS Critical Conditions

21 EXAMPLE: GLOBAL PAYMENTS Additional Considerations

22 EXAMPLE 2: GLOBAL PAYMENTS Conclusions

23 What are we busy with SettleMint? MINT: Connecting Existing and New application to blockchain protocols

24 What are we busy with SettleMint? MIDDLEWARE IN 4 SDK: based on 8 builds & screening 500+ use cases, 80% coverage

25 What are we busy with SettleMint? Some Production Applications using our Middleware

26 We make building blockchain applications easy for IT teams Thank You!