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The revolution will not be centralized!
AN INTRODUCTION TO BLOCKCHAIN
TECHNOLOGY
(WITH HINTS OF ENERGY!)
PROGRAM:
22 June 2018
MILAN
0. INTRO
1. What is (not) blockchain?
2. A “trustless” & decentralized transaction model
3. So… what is blockchain?!
4. The key concept of “Mining”
5. Other key concepts & common variations
6. The brave new world of utility tokens
7. Considerations & limitations
8. Outcomes / Lessons for the day
A DECENTRALIZED, DIGITAL, PUBLIC LEDGER
WHAT IS BLOCKCHAIN?
WHAT IS BLOCKCHAIN
(AND WHAT IS NOT) ?
BLOCKCHAIN ≠ BITCOIN
“ONE THING”
A DECENTRALIZED, DIGITAL, PUBLIC LEDGER
WHAT IS BLOCKCHAIN?
WHAT IS NOT BLOCKCHAIN?
WHAT IS BLOCKCHAIN
(AND WHAT IS NOT) ?
• P2P Transactions
• Auditing process of transactions: everyone participates.
• Data cannot be manipulated – verified at real time.
• Aggregated transactions (via trust body)
• Auditing process of transactions: occurs at central network node.
• Centralized data can be manipulated
A “TRUSTLESS”& DECENTRALIZED TRANSACTION MODEL
Source: PwC Report: “Blockchain applications in the energy sector”.
SO… WHAT IS BLOCKCHAIN?
TRANSPARENCY
TRUST
A SHARED DATABASE
P2P TRANSACTIONS
ACCOUNTING OF VALUE
SYMMETRY IN INFORMATION SHARING
THE KEY CONCEPT OF “MINING”
OTHER KEY CONCEPTS & COMMON
VARIATIONS
ANONYMITY
PUBLIC (VS) PRIVATE BLOCKCHAIN
GOVERNANCE/INCENTIVE MODELS
“CODE IS GOD”
IMPLEMENTATION APPROACHES
A BRAVE NEW WORLD: UTILITY
TOKENS & UTILITY PLATFORMS
CROWDFUNDING - ICOs
SHAREHOLDING
NEW BUSINESS & SOCIAL-ECONOMY MODELS
A POTENTIAL GAME-CHANGER FOR VALUE
SHARING/ACCOUNTING
A BRAVE NEW WORLD: UTILITY
TOKENS & UTILITY PLATFORMS
Crypto-currency market capitalization, Jun 2018: USD 280 bln.
THE DARK SIDE OF THE MOON:
ICO-FRENZINESS
1,600 COINS/TOKENS
CONSIDERATIONS & LIMITATIONS
IS IT NECESSARY?
IS IT SCALABLE?
IS IT ENVIRONMENTALLY FRIENDLY?
IS IT NECESSARY?
CONSIDERATIONS & LIMITATIONS
IS IT NECESSARY?
IS IT SCALABLE?
IS IT ENVIRONMENTALLY FRIENDLY?
IS IT SCALABLE/REPLICABLE?
WHICH SECTOR IS IT APPLIED ON?
REGULATORY ISSUES (OF ALL SORTS)?
IS IT TECHNICALLY FEASIBLE?
CONSIDERATIONS & LIMITATIONS
IS IT NECESSARY?
IS IT SCALABLE?
IS IT ENVIRONMENTALLY FRIENDLY?
IS IT SECURE?
1. Endpoint Vulnerabilities2. Vendor Risks3. Untested at Full Scale4. Lack of Standards and Regulation5. Untested Code
IS IT ENVIRONMENTALLY
FRIENDLY?
Source: Bloomberg New Energy Finance; “Bitcoin/Ethereum Energy Consumption Index”; 15 Sep 2017.
OUTCOMES / LESSONS
