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BLOCKCHAIN- HOW IT COULD TRANSFORM
BUSINESS
Thursday 23rd February 2017
David Reilly
WHAT IS BLOCK CHAIN?
is not
“ Blockchain is the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto.”
HISTORY
WHAT IS BLOCKCHAIN? “Blockchain is an incorruptible shared digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don Tapscott
DISTRIBUTED NETWORK
SHARED NETWORK Like Google Docs, this network is essentially a chain of shared computers that must all approve an exchange before it can be verified and recorded
HOW BLOCKCHAIN WORKS
Transaction is represented online
as block
Those in the network approve the transactions
Block is added to the chain which provide a
transparent record of the transaction
The Money moves from A
to B
A wants to send money
to B
1 2
Block is broadcast to every party in the
network
3
4 5 6
HOW DOES IT CAN TRANSFORM BUSINESS?
UNLIMITED APPLICATIONS Almost limitless: applications from money transfer, collecting taxes to enabling migrants to send money back to family in countries where banking is difficult.
TRANSPARENCY
Providing transparency for almost every type of transaction involving value, including money, goods and property
SECURE DATA
Secure transactions, reduced hacking
Open to Micropayments
SMART CONTRACTS BUILT IN Verifiable, signed & encrypted
TRUST
Consensus Trust improves effectiveness
USER CASES
WHO’S USING IT? Only a very small proportion of global GDP (around 0.025%, or $20 billion) is held in the blockchain, according to a survey by the World Economic Forum’s Global Agenda Council.
Companies racing to adapt blockchain include here in the UK, Barclays, Bank of Ireland, UBS, Microsoft, IBM and PwC. The Bank of Canada is also experimenting with the technology.
ETHEREUM Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. on a custom built blockchain
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
https://www.ethereum.org/
FINANCIAL SERVICES Low cost cross-border frictionless payments, low transaction risk, near instant settlement, easy to use no third party. Example: Coinc.ph
PROPERTY Blockchain applications can help record, track, and transfer land titles, property deeds and helps ensure the documents are accurate and verifiable. Example: www.Ubitquity.io
HEALTHCARE Blockchains can allow hospitals and other parties in the healthcare value-chain to share access to their networks without compromising data security and integrity.Example gem.co
RETAIL- PROVENANCEProvenance use digital tools power transparent businesses and traceable products. We use technology to help us all make purchases that are meaningful and more informed.
EVERLEDGERglobal, digital ledger that tracks and protects valuable assets like diamonds throughout their lifetime journey.
AN OFFER TO YOU
BLOCKCHAIN MASTERCLASS; 31ST MARCH 2017
Understanding Blockchain Technology
1 Day Masterclass Workshop
London, Friday, 31st March 2017
SPECIAL OFFER Normal cost for the 1 Day workshop: £449
Special Offer until Monday 27th February, £400, saving you £50
https://www.eventbrite.co.uk/e/blockchain-technology-masterclass-1-day-training-workshop-tickets-30554939647?discount=LondonFuturists
Thankyou for listeningDavid [email protected]
