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Juan LlanosBlockchain/Compliance/Fintech Executive & Advisor | EVP at Skry
@JuanLlanos
Joaquin MorenoBlockchain Practice Lead
at Globant@joaquinmoreno
SPEAKERS #BlockchainGlobant
Presenting Today:
Context The first blockchainWhy it is revolutionaryRegulation today & tomorrow
ApplicationsThe blockchain raceExperiments & use casesA glimpse into the future
#BlockchainGlobant
Digital Assets tend to be global, open, nodal and evolutionary. They live on the Internet and vary widely in scope and use.
96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16
browser
tokensrewards
e-GoldWOW
Ripple Protocol
VenRipple XRP
LitecoinLinden Dollars
Entropia Universe
QQ Online
Exchanges
Altcoin ExplosionRegulated Exchanges
BeenzFlooz
Colored CoinSmart Contracts
Ethereum
Square CashAmazon Coin
Sovereign CoinReal Estate
EquitiesDerivatives ?
Source: Hub Culture
R3 Corda
Digital Assets tend to be global, open, nodal and evolutionary. They live on the Internet and vary widely in scope and use.
96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16
browser
tokensrewards
Bitcoin Protocol
VenRipple XRP
LitecoinLinden Dollars
Entropia Universe
QQ Online
Exchanges
Altcoin ExplosionRegulated Exchanges
BeenzFlooz
Colored CoinSmart Contracts
Ethereum
Square CashAmazon Coin
Sovereign CoinReal Estate
EquitiesDerivatives
Bitcoin Open Source Protocol Solves Double Spend Problem via Open Ledger
?
Source: Hub Culture
R3 Corda
e-GoldWOW
Ripple Protocol
“A Peer-to-Peer Electronic Cash System”Satoshi Nakamoto
“A peer-to-peer network that allows for the proof and transfer of ownership without the need of a trusted third party.”
Goldman Sachs
“An open platform for value exchange.”Richard Brown (R3)
“A Peer-to-Peer Electronic Cash System”Satoshi Nakamoto
“A peer-to-peer network that allows for the proof and transfer of ownership without the need of a trusted third party.”
Goldman Sachs
“An open platform for value exchange.”Richard Brown (R3)
an accounting systema database
PEER
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PEER PEERPEERDOUBLE-SPEND: SOLVED
DISTRIBUTED CONSENSUSTRANSPARENT LEDGER
TRANSFER & IDENTITY: SEPARATEDPROGRAMMABLE
freedom to ownfreedom to transferfreedom to innovate
censorship-resistance
What about regulation?
• Risky “product”(no value limits, global, etc.)• No identity & location of either S or R • Limited monitoring: blockchain data insufficient
(no transaction metadata + dark web)• “Evil” smart contracts• Regulations designed for intermediaries, not P2P• Clash with privacy/confidentiality
AML Challenges
• Direct (“self-help”) detection & investigation (vs. deputized)
• Global monitoring (vs. intra-company)• Digital, global, real-time information sharing
(vs. analog & after-the-fact)• Traceability + attribution + immutability• New layers - Algorithmic/programmatic enforcement
AML Opportunities
RETHINKREDEFINEREINVENT
PRIVATE vs OPENBLOCKCHAINS
Source: Coindesk
Blockchain(s)& Applications
INVESTMENTS
$93 M $993 MFunding Between2009-2013
Funding Between2014 and Feb 18th 2016
Source: CBInsight. https://www.youtube.com/watch?v=75YknrdY7Yg
Total Global Funding to Blockchain/Bitcoin Companies
ETHEREUM
SidechainsBTC
OTHER BLOCKCHAINS
Corda
APPLICATIONS
Blockchain Race
Finance (Settlements, trading)
IoT (Identification & Communication between devices)
Energy (Efficiency)
Legal
Logistics (Tracking)
Asset Legitimacy (Art, Jewelry, etc.)Credential Certification (Universities, Trainings)
Gaming
Clearing & Settlement
Smart ContractsInheritanceEmployeesLogistics
Legal
Asset LegitimacyWinesJewelry/ArtLandElectronicsGenerics
Internet of ThingsAPPLICATIONS IN DIFFERENT INDUSTRIES
Credential Certification
Energy Identity
Gaming
APPLICATIONS IN DIFFERENT INDUSTRIES
What are we doing?
Mobile Device Registration system
Problem
● Fake mobile devices and theft on the market.
Solution
● A system where private/public keys are generated for each owner guaranteeing access to that person only.
● A trusted third party (Ebay, MercadoLibre, etc.) is required in order to pay for the transaction fee and let the buyer create the private key needed to access the mobile phone.
● Works for Android phones.
Benefits
● Customers can buy an original mobile device from the real owner.
● A stolen mobile device cannot be sold.
INTERNAL POC
Digital Assets Management
Problem
● Inefficient and expensive to maintain database.
Solution
● A system where a digital asset could be created and allow customers to easily transfer assets between each other.
● The organization (bank, etc.) acts as an escrow in the transfer process.
● Users can only access via a web browser.
Benefits
● By using a blockchain technology the settlements are faster, the transaction and maintenance costs reduced.
PRODUCTMANAGER
FRONT/BACK-END DEVELOPER
USEREXPERIENCE
ARCHSOFTWAREARCHITECT
POC Implementation
PROBLEM TECHNOLOGY EXPECTATIONS DEVELOPMENT DELIVERY
CUSTOMER POC
This is the process we follow to think, design and execute a Blockchain Proof of Concept (POC) at Globant.
We want to make sure that we clearly understand the problem to be solved and we evaluate if the the blockchain technology is needed.
If blockchain technology is needed, then we analyze which one is the best to solve the problem.
We agree the objectives and expectations in order to have a clear view on where we need to focus on. The deliverables are also set at this stage.
Execution is done in 3 months by using our proprietary Agile Pods methodology. Strong interaction with our customer team is required.
Speed, Quality, Innovation, Autonomy
We deliver the product on time and aligned with the objective of the POC.Documentation is provided to help the team scale.
Distributed & Math-based Trust
Database & Virtual Machine
Technology
SUMMARIZING
This is just the beginning...
Source: Bloq
Thanks!Joaquin MorenoBlockchain Practice LeadGlobant
Juan LlanosEVP of Business DevelopmentSkry Technologies
Questions?
Bonus Slides
HOW BITCOIN &ITS BLOCKCHAIN WORK
Less technical video [5 minutes]https://youtu.be/l9jOJk30eQs
More technical video [22 minutes]https://youtu.be/Lx9zgZCMqXE
“The Real Value of Blockchain Technology” [6 minutes]https://youtu.be/YIVAluSL9SU
IMPLEMENTING BLOCKCHAIN
Source: http://www.coindesk.com/the-9-mistakes-i-made-when-bringing-blockchain-to-my-startup/
1. Failing to understand how blockchain actually works2. Not selecting the blockchain software that aligns with the business purpose3. Being impatient and trying to rush the timeline for blockchain adoption4. Thinking every business function can be improved with blockchain5. Believing the system is already protected from user mistakes6. Not limiting access to private keys7. Making the blockchain too 'heavy'8. Not realizing there are limitations to blockchain as a database9. Not seeing the potential flaws within blockchain
BLOCKCHAINS QUADRANTS
Source: https://docs.erisindustries.com/explainers/blockchains/
Logic Optimized
Transaction Optimized
PermissionedUnpermissioned
ETHEREUM
+Alt-Coins
Most Likely to be Implemented
internal processes
2016 2017 2018 2019 2020
Finance
Other Industries
IoT
non-regulated Products
regulated products
payments from customers
contracts between devices (IoT)
device ID registration
POSSIBLE SCENARIOS
