Book Review Presentation

 MICHAEL J.CASEY &

 PAUL VIGNA

 THE TRUTH MACHINE

 HARPER COLLINS
PUBLISHERS
 2018
Group 2
Lloyd Mendonca
Vijay Bhattarai
Kaustubh Dighe
Rachel Nunes
Supriya Dalvi
Jennifer D’souza
The Truth Machine
Type of book - Opinion of new ideas and Strategy
towards business.
Subject Matter - The book highlights an overview
of how block chain technology can be useful and
the strategy can be used in various business.
Special Features – Covers broad range of
information and details about the block chain
technology, an idea which was started from that
concept and how it bloomed to a billion dollar
investment.
Authors Purpose - To highlight the importance of
the technology and how it can be beneficial in the
future to avoid all scams and corruption in society.
 Authors description
 A native of Perth, Western Australia, Michael
Casey is writer and researcher in the fields of
economics, finance, and digital technology and
culture. Paul Vigna is a markets reporter for The
Wall Street Journal, covering equities and the
economy.
 Both of them tried to expose on the economic,
cultural and political changes heralded by the
technology behind bitcoin and digital currencies
by this book.
BITCON
 CRYPTOCURRENCY
 DECENTRALIZED DIGITAL
CURRENCY
 NO CENTRAL BANK OR SINGLE
ADMINISTRATOR
 TRANSACTIONS ARE VERIFIED
BY NETWORK NODES
THROUGH CRYPTOGRAPHY
AND RECORDED IN PUBLIC
DISTRIBUTED LEDGER
CALLED BLOCKCHAIN
 INVENTED BY GROUP OF
PEOPLE NAMED SATOSHI
NAKOMOTO
 RELEASED IN 2009
 APPROX 5 MILLION
USERS IN 2017
ADVANTAGE
S OF
BITCOINS

 HIGHLY SECURED
 USED HEAVILY AS
PAYMENT
METHODS
 INTERNATIONAL
TRANSACTIONS
EASIER THAN
REGULAR
CURRENCIES
 FASTER WAY TO
CONDUCT
TRANSACTIONS
 DRAWBACKS
OF BITCOIN
 ILLEGAL TRANSACTIONS
 HIGH ELECTRICITY
CONSUMPTION
 PRICE VOLATILITY
 THEFTS FROM
EXCHNAGES
Self sovereign identity
Guiding principles of self
sovereign identity
• Existence
• Control
• Access
• Consent
Redifining identity
3 TYPES OF IDENTITY
Legal identity
Social identity
Personal identity
 But can we afford to
tackle Identity?
Blockchain
Distributed
Append only
Provably Signed
Sequentially Linked & cryotographically
Secured
Replicated
Software Driven Consensus
“Blockchain is a Truth Machine”,which automatically
builds the trust.
-Michael J. Casey
Security
No identifying Information about system of
Public Ledger
No one owns or control
the ledger
Private or permissionless
Blockchain which relys on
Central authority
 Indian companies

 Record keeping of trade

assets
 Trustworthy
 Security
Conclusion
 According to the authors, the central role of
block chain revolves around toning down
individualism, which according to us isn’t as
easy as words make it sound. And my ultimate
takeaway from the Truth Machine book is the
constant ballet between the individualism
ideologies and communist ideologies. However,
the democracy that works well been today
revolves around individualism.

 Cryptocurrency can be the money of the future