Intro to Blockchain: What, Why, and How
Sunny Patel, CFA, MBA
Managing Director & Founder of Trends Digital
What is Blockchain?
Firstly.
Blockchain and Bitcoin are not the same.
Sorry.
Bitcoin market cap over $120bn usd
Top 10 Crypto market cap over $240bn
Resources / Sources: Conmarketcap.com
Blockchain - How it works
Resources / Sources: PWC Report
“Blockchain is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications.Currency is just one.”
- Sally Davies, Financial Times
Blockchain● Chain of Blocks of digital information
○ These blocks typically include validation method (crypto hash function), a timestamp, and the relevant transaction data looking to be stored in the Blocks of the Blockchain
● Distributed Ledger System○ Mostly using Peer to Peer networks to validate and record information○ Avoids one central authority for validation○ The “Chain of Blocks” or Blockchain keep historical validated transactions
● Security by Design○ Decentralized consensus is achieved the master blockchain○ Once validated, very hard to hack & moodife the chain as multiple
computers keep the recorded history of the blockchain
Bitcoin Blockchain Total Size Increase
Bitcoin Miners require CPU & Energy
Proof of Work vs Proof of Stake
Resources / Sources: Blockgeeks
Divergence of Bitcoin & Blockchain
Resources / Sources: TheNextWeb
Public, Private, & Consortium Chains
Blockchain Ecosystem is growing
Resources / Sources: Business Insider
Blockchain technology enables Bitcoin....
…and many other impactful applications.
Current & Future Applications of Blockchain technologies
Blockchain Sample Use Cases
Resources / Sources: PWC Report
Blockchain use cases outside of Crypto
Blockchain for Music Copyright System
Level One Project
WFP - World Food Program
Resources / Sources: WFP.org
De-centralized Voting System
Verification of Source of Medicines
B2B - Hyperledger & Linux Foundation
B2B - Hyperledger Projects
B2B - Hyperledger & IoT example
One more thing….
Only 1%Over 3,000 CIOs where interviewed in 98 countries by Gartner in May 2018 and found only 1% have adopted Blockchain technologies so far
Despite all the talk…...
Resources / Sources: Gartner, May 2018
Blockchain Testing is still in early days
Long & exciting road for Blockchain ahead but….
...still much innovation, education and work
needed to ensure we all reap the future societal benefits of Blockchain
technologies
THANK YOU!
Co-Founder & Managing Director of Trends
Sunny Patel, CFA, MBASunny is originally from Montreal, Canada and attended University of Western Ontario (UWO) in London, Ontario with a BA (Honors) in Philosophy, MBA from INSEAD, and CFA designation.
After working in Toronto, Canada for Towers Perrin (now Towers Watson), Sunny attended INSEAD full time MBA and graduated in July 2005. He subsequently moved to London, UK where he worked at Global Asset Management (GAM) in the Hedge Fund / Long Only / Fund of Funds group. He also enrolled in summer program at Peking University in Beijing in 2010 and holds a Chartered Financial Analyst (CFA) designation and executive courses with MIT in IOT and AI / Machine Learning for Business & Strategy. Sunny is a member of the Forbes Agency Council and the Intel Innovator Program.
Since its start in 2013, Trends Digital has grown to a team of ~40 specialists providing solutions with platform partners such as Google, Facebook, Instagram, Youtube, Line (Naver), Twitter, and others. Services also include Social Media Monitoring, Social Listening, and Consumer Management software & tools. Trends Digital services Fortune 1000 clients along with Nonprofits and NGOs throughout the Asia Pacific region.
---LinkedIn Profilehttps://www.linkedin.com/in/sunpat