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Blockchainpresentation PPT 5548313
Blockchainpresentation PPT 5548313
Agenda
• https://www.cryptocoincharts.info/coins/info claims to
be indexing 4,220 cryptocurrencies
Tech Trends 2017, The Kenetic Enterprise, “Blockchain: Trust economy”, Deloitte University Press, 2017
A General Discussion about Tokens
• A broader use is supported by the digital infrastructure
introduced through Bitcoin, as represented by “tokens”.
• A “token” can be defined as a “scarce digital asset based on
underlying technology inspired by Bitcoin.”
• Tokens may use similar codebases but different blockchain
databases.
• Ethereum was Bitcoin-inspired but has its own blockchain and is
engineered to be more programmable. Tokens can be issued on
top of the Ethereum blockchain.
• Token buyers are buying private keys, which are similar to API
keys, but can be transferred to other parties without consent.
“Thoughts on Tokens”, Balaji S. Srinivasan and Naval Ravikant
Tokens, continued
• Tokens have a value and therefore a price.
• Tokens are a new model for technology and can be an
alternative to equity-based financing.
• Tokens do not dilute capital. They introduce a huge increase to
buyer base and time-to-liquidity.
• Token launches differ from equity sales; however, they can be
issued as a way to share profits.
• Tokens can be sold internationally over the internet and are
always open for business.
• Tokens decentralize the process of funding technology.
Thoughts on Tokens, Balaji S. Srinivasan and Naval Ravikant
Tokens, continued
• Tokens enable a better-than-free new business model.
• Tokens will introduce the rise of the “tech savvy senior
executive.”
• Tokens accommodate immediate custody without an
intermediary.
• Tokens can be extended to hardware, as part of the internet of
things.
Current paper-based
systems drive $18
trillion in transactions
per year.
“Contracts Get Smarter with Blockchain”, CIO Journal, The Wall Street Journal,
World Trade Organization, International Trade Statistics 2015, 2015, p. 41.
Hyperledger
www.hyperledger.org
Hyperledger Projects
A few of the Hyperledger Projects include:
“21 Companies Leveraging Blockchain for Identity Management and Authentication” by Elena
Mesropyan, https://letstalkpayments.com/22-companies-leveraging-blockchain-for-identity-
management-and-authentication/
Protecting Private Keys
https://bravenewcoin.com/news/netki-launches-digital-id-solution-which-bitt-is-using-with-central-banks-in-
the-caribbean/
Criticism and Challenges
Critics have cited the following blockchain challenges:
•Nascent technology
•Uncertain regulatory status
•Large energy consumption
•Control, security and privacy
•Integration concerns
•Cultural adoption
•Cost
•Challenges associated with audit, taxes, and compliance
Creating Assurance in Blockchain, Volume 2, 2017, by A. Michael Smith
Deloitte’s Blockchain technology: 9 benefits & 7 challenges,
https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/blockchain-technology-9-benefits-and-7-
challenges.html
Energy Consumption
• An area of heavy criticism has to do with the vast amounts of energy
necessary to process and store transactions, especially as the use of
blockchain technology increases
• The Bitcoin blockchain network’s miners are attempting 450
thousand trillion solutions per second in efforts to validate
transactions, using substantial amounts of computer power
• Note that there are also opportunities to decentralize the energy
grid
• Wasted resources: Mining Bitcoin wastes huge amounts of energy
($15million/day)
Deloitte’s Blockchain technology: 9 benefits & 7 challenges,
https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/blockchain-technology-9-benefits-and-7-
challenges.html
Blockchain in the Energy Sector: Institutional Disruption? By Marius Buchmann
http://www.theenergycollective.com/enerquire/2402120/blockchain-energy-sector-institutional-disruption
Summary
• Although the technology is still in its infancy, boundless usage
opportunities exist
• The identity management landscape is likely to shift dramatically
Tech Trends 2017, The Kenetic Enterprise, “Blockchain: Trust economy”, Deloitte University Press, 2017