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Blockchain Technology Case Studies• Prepared by Shane Ninai • [email protected]• A look at a few startups and examples of how blockchain technology
is being used today.• Massive growth potential• Watch videos and follow links for maximum impact
Case Studies• Identity• Smart Contracts• Financial Services• Land Title Registry• What Investors are Saying
Identity• Registering and proving identity and existence on the blockchain• Potential use cases• National ID, Passports, drivers license, birth certificate, employee ID
card, student ID cards, police officer ID, voter registration• Company example: Onename
https://onename.com/
Decentralised identity and naming authentication system built on the blockchain.Onename is building the authentication layer for the Internet.
Onename makes it easy to register and manage blockchain IDs with an easy to use web application. Anyone can create a personal or company profile and share their blockchain ID on their website, social media profiles, and business cards so others can easily find them online. Developers can integrate support for blockchain IDs to offer users password-less login, secure messaging, and granular control over data access and privacy.
Because blockchain IDs are decentralized, users are in control of their online identity and developers are free to pursue permissionless innovation. Register a blockchain ID to experience the future of identity today.
i.e. https://onename.com/ryan
Easy as 1, 2, 3
Onename Launches Blockchain Identity Product Passcard
Blockchain startup Onename launched its new product Passcard this week, which uses a blockchain-tied profile to create a secure and “trustless” identity. Onename plans on eventually using it as a sort of digital key to your identity, potentially replacing passwords, the keys to your house and even your passport.
Passcards are a digital form of identity and access control designed to initially replace passwords, and in the future, replace forms of physical identification like passports and driver’s licenses. You’ll be able to use it to enter your apartment or your office and when asked to present identification in an in-person context. The future of identity is here
Onename was founded in March 2014. The company raised a $1.5 million seed round from Barry Silbert’s Bitcoin Opportunity Fund, Fred Wilson through Union Square Ventures, AngelList CEO and co-founder Naval Ravikant and investment firm SV Angel.
Smart contracts• Unbreakable escrow• Eliminate the risk of relying on others to follow through on their commitments• Fully customizable smart contracts• Small bits of code attached to an asset, which determines where and how the underlying asset will
perform based on events in the network. The promise of financial instruments that are routed through the economy autonomously, and without need for intervention by a custodian, is immense.
• With a blockchain, only the two parties involved in a 'contract' have access to their funds, and when a contract is deployed, these funds are determined by the blockchain to be 'allocated' to the contract, and are unspendable by either party until the terms of the contract have expired.
• With the removal of an escrow agent, none of the involved parties, or a counterparty, can control or moderate the asset during or after the contract's terms have come to pass.
• Company example: Hedgy
Blockchain Smart ContractsPlay video: Decentralised smart contracthttps://www.youtube.com/watch?v=FkeLDPZ-v8g
“We're on a mission to create a more open, accountable and distributed financial world, where commercial contracts are executed and enforced by the laws of math -- not the flaws of man.
We're re-building traditional financial infrastructure using cryptographic ledgers”
http://hedgy.co/
Hedgy helps traders execute & settle over-the-counter forwards with less counterparty risk using smart contracts on the blockchain.
Bitcoin derivatives startup Hedgy has raised $1.2m in new seed funding from a group of 10 investors that includes Draper Fisher Jurvetson partner Tim Draper, Salesforce CEO Marc Benioff and Sand Hill Ventures.
• Blockchain-based smart contract platform Hedgy, which previously raised US$1.2 million in a seed funding round led by Salesforce CEO Marc Benioff and Draper Fisher Jurvetson partner Tim Draper in April 2015, has released a demo of its blockchain-based software that allows commercial traders to “independently create, enforce and physically settle OTC forward contracts.”• A forward contract, which is also known to be the backbone of
derivatives, is a type of a derivative instrument which acts as a bilateral agreement between two counterparties looking to buy or sell an asset or commodity for a fixed price at a specified date in the future.• For centuries, businesses have utilized forward contracts to protect their
assets and commercial interests against financial risk, such as currency volatility. However, such contract is often manipulated and left unsettled, due to one party’s failure to meet the contractual obligation and deadline of the payment stated in the contract.
• Hedgy aims to offer a “less toxic OTC trading experience” by introducing the blockchain technology to the traditional over-the-counter financial market to allow the deployment of irrefutable, irreversible and unalterable smart contracts to authenticate and verify the contractual obligations between two parties involved in a forward contract.• “The genesis of our thesis was simple. If we could utilize Bitcoin’s P2P
network combined with the blockchain, then maybe we could create a safer OTC forward contract, which would lead to a more open, accountable and distributed financial world,” the Hedgy team wrote in its newly published report.
https://www.ethereum.org/
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
EthereumPlay video: What is Ethereumhttps://www.youtube.com/watch?v=j23HnORQXvs
Financial Services• A distributed ledger or smart-contract uses the blockchain as payment
protection, a remittance system and even a bank account, offering the hope of an alternative financial scheme and more financial inclusion to billions of ‘unbanked’ people around the world.• Low cost cross-border frictionless payments, low transaction risk,
near instant settlement, easy to use no third party• Example company https://coins.ph/ • Unbanked, remittances and financial services
Bitcoin: Crypto-CurrencyPlay video: What is BitcoinWhen a token on the blockchain is assigned monetary value. Global decentralised currencyhttps://www.youtube.com/watch?v=Um63OQz3bjo
How Blockchain will change financePlay video: How blockchain will change financehttps://www.youtube.com/watch?v=sYduOfRLHq0
R3 CEV works with all the major banks to develop a blockchain platform for the financial industry
R3 focuses on distributed ledger technology and has partnered with 42 banks around the world, such as Goldman Sachs, HSBC and Toronto Dominion, over the past year to create a blockchain consortium of financial institutions.
R3 CEV believes in the value of a private “permissioned” blockchain, rather than a public “permissionless” blockchain. The entire world has access to a permissionless ledger, and it requires a digital asset, such as bitcoin, to operate as a financial incentive to encourage people and businesses to contribute their computing power to secure the network. This also deters fraud as the network grows larger. Only a select group of trusted parties is required to maintain a permissioned blockchain.
• https://bitcoinmagazine.com/articles/r-cev-takes-on-bitcoin-with-launch-of-private-distributed-ledger-pilot-1453321957
• Coins.ph is a mobile platform connecting 300+ million people in Southeast Asia who are currently out of reach for traditional banking with services from existing banks and financial product providers.
• Platform utilizes existing retail infrastructure (10,000+ locations) for deposits and withdrawals, cutting down on one of the biggest cost components of traditional retail banking.
• Founded in 2014, Coins.ph now processes thousands of transactions per day, including remittances, bills payment, mobile top-ups, and other services provided by third-party covered financial institutions.
• Bringing financial services to the unbanked through mobile and the Blockchain. Bitcoin exchange.
• Bangkok, Manila, South-East Asia• Mobile payments, Peer-to-peer money transfer
Land Title Registry• Land rights abuse, corruption and mismanagement• Use blockchain to register securely • Case example: Factom http://factom.org/
• Businesses and governments can use Factom to simplify records management, record business processes, and address security and compliance issues.
Factom maintains a permanent, time-stamped record of your data in the blockchain. Reduce the cost and complexity of conducting audits, managing records, and complying with government regulations.
Use the blockchain to power a remarkable range of applications, including audit systems, medical records, supply chain management, voting systems, property titles, legal applications, and financial systems.
Factom- Land title registryFactom worked with Govt of Honduras to record land title registry http://www.coindesk.com/factom-land-registry-deal-honduran-government/
$9 trillion market
Land, mineral rights, completely secure and immutable audit
What investors are saying
Tim Draper: Draper Fisher Jurvetson- Founder and Managing Directorhttps://angel.co/timdraper
Leading venture capitalist in Blockchain http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/
What investors are saying
Adam Draper: Boost VC- Founder and Managing Directorhttps://angel.co/adam172draper
Leading venture capitalist in Blockchain http://www.coindesk.com/boost-vc-goes-full-bitcoin-next-startup-mentor-round/
What investors are saying
Ian Lee: Citi Ventures- Senior Vice Presidenthttp://www.citi.com/ventures/bioLee.html
Leading venture capitalist in Blockchain
Bitcoin- More than just money
Watch video: https://www.youtube.com/watch?v=CypPMzZinys
The Blockchain
Watch the video: https://www.youtube.com/watch?v=YIVAluSL9SU
Blockchain news
>$1billion invested in blockchain so far• http://cointelegraph.com/news/1-billion-invested-so-far-in-bitcoin-bl
ockchain-infrastructure
Blockchain education- learn about blockchain
• http://www.coindesk.com/
• https://www.udemy.com/the-bitcoin-course/learn/#/
