Deloitte EMEA Blockchain Lab Blockchain Fundamentals 8 th September 017
1 Blockchain 101 & Blockchain Trends Blockchain & Energy Deloitte EMEA Blockchain Lab 017 Deloitte
A decentralized, distributed ledger that provides a way for information to be recorded, shared and maintained by a community. A system of computers, connected via the Internet, in which users at any one computer can receive or send value to another computer Digital signatures and cryptography is used to secure the transfer It facilitates peer-to-peer transfer of value without a central intermediary e.g. a bank Data is replicated across the systems over a peer-to-peer network Transactions are recorded in chronological order on a continuously growing database Can be written and read by certain participants and entries are permanent, transparent, and searchable 017 Deloitte
Blockchain is a series of interconnected blocks, with new blocks added on the end of the chain Consensus Consensus Consensus 1 FUTURE S Each block contains: Transactions (currency transfers from one party to another) Data A Reference to the Previous Block (creating the CHAIN) 017 Deloitte 4
Every node maintains an identical copy of the blockchain there is no one master node Node 1 1 FUTURE S 1 Node FUTURE S 1 Node 6 FUTURE S 1 Node FUTURE S 1 Node 5 FUTURE S Node 4 1 FUTURE S 017 Deloitte 5
What happens today Two companies wish to transact. Because they use disparate systems of record they need to use a trusted rd party to transact. Company A Company B Reconciled and Shared Data Trusted Third Party (Clearing Houses, Transfer Agents, Managed Services) 017 Deloitte 6
What happens in a Blockchain world Two companies wish to transact. They transact on a shared platform and ledger which facilitates the exchange of value without the need for a mediating rd party.. Company A Company B Blockchain Shared Data 017 Deloitte 7
In it s technology evolution, blockchain technology remains nascent and immature. MISCONCEPTIONS CHALLENGES It s not a panacea Standards need to be formalised It s not Bitcoin, that is just a use case Not all regulators are on board Traditional technology is not redundant or obsolete Does it scale? You will still need to integrate data from other systems It is not proven in production environments yet It s not real-time Collaboration is required to make it a success 017 Deloitte 8
1 Blockchain 101 & Blockchain Trends Blockchain & Energy Deloitte EMEA Blockchain Lab 017 Deloitte 9
Blockchain has the potential to be used in a smart energy ecosystem 017 Deloitte. All rights reserved 10
1 Blockchain 101 & Blockchain Trends Blockchain & Energy Deloitte EMEA Blockchain Lab 017 Deloitte 11
The Irish practice is leading the blockchain Center of Excellence to consolidate the best EMEA competencies around blockchain. Client Visits Over 100 clients have visited the Lab for experience sessions Alliance PMO Client Projects Over 0 Global Blockchain Projects Global Payments KYC Reg Reporting Trade Finance Thought Leadership Over 0 pieces Eminence Global Payments KYC Reg Reporting Trade Finance Training 017 Deloitte 1 5 Active Spoke Labs Pipeline Active Hub Labs 1 Ecosystem Partners 15+ Active POCs
Regulatory Reporting HKMA Trade Finance Certification Single Customer View Fund Distribution 017 Deloitte 1
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