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© 2016 IBM Corporation
IBM’s Open BlockchainMaking Blockchain Real for Enterprises
Anthony O’Dowd, STSM IBM Blockchain Labs
Christopher Ferris, CTO Open Technology, IBM
IBM Blockchain – April 2016
© 2016 IBM Corporation 2
Blockchain Business Terminology
Business Networks
• Participants who are customers,suppliers, banks, partners
• Cross geography & regulatoryboundary
Wealth is generated by the flow ofgoods & services across businessnetwork
Markets are central to this process
• Public: fruit market, car auction
or
• Private: supply chain financing,bonds
LedgersTHE system of record for a business
Business will have multiple ledgers formultiple business networks in which theyparticipate
Transaction: an asset transfer onto and offof the ledger
• John gives a car to Anthony (simple)
Contract: conditions for transaction to occur
• If Anthony pays John money, then carpasses from John to Anthony (simple)
• If car won't start, funds do not pass toJohn (as decided by third partyarbitrator) (more complex)
Assets
Anything that is capable of beingowned or controlled to produce value
Two fundamental types of asset
• Tangible, e.g. a house
• Intangible e.g. a mortgage
Intangible assets subdivide
• Financial, e.g. bond
• Intellectual e.g. patents
• Digital e.g. music
Cash is also an asset
• Has property of anonymity
© 2016 IBM Corporation 3
The Blockchain Solution – a shared, replicated, permissioned ledger
Counter-partyrecords
Bank records
Party C’s Records Auditor records
Party B Records
Party A’s Records
Ledger
Ledger
Ledger
Ledger
Ledger
Ledger
© 2016 IBM Corporation 4
Blockchain defined
Blockchain is a technology for a new generation of transactional applications that establishes trust,accountability and transparency while streamlining processes in business networks. Think of it as
an operating system for interactions between participants in a business network. It has the potentialto vastly reduce the cost and complexity of getting things done.
Blockchain is a designpattern made famous by itsuse in Bitcoin. But its usesgo far beyond.
Blockchain can reimaginethe world's most fundamentalbusiness interactions andopen the door to invent newstyles of digital interactions.
IBM is applying Blockchainto a very broad range ofbusiness applications
© 2016 IBM Corporation 5
IBM’s point-of-view on Blockchain
1. Blockchain is a new-style distributed-database technology that enables enterprises tointeract more efficiently and securely across a wide variety of business application
2. Blockchain is not bitcoin; and while it was made popular by bitcoin, the computer sciencebehind blockchain has been in development for the past two decades
3. Blockchain must be built in the open. IBM supports the Linux Foundation’s Hyperledgerproject because of it’s focus on balanced governance methodology and open sourcemeritocracy. This approach will lower risk of adoption and has lead to record adoption bytop industry companies and regulators.
4. Blockchain must be made ready for enterprise applications with a focus on privacy,confidentiality, auditability, performance and scalability. IBM OBC fabric, is built from theground up with these attributes and was donated to the Hyperledger project
5. Blockchain must be permissioned to ensure greater trust across members, whileenabling more optimized forms of consensus which avoids the need to mine, whichcomes are great cost in compute power and performance. Hence, IBM’s view ofblockchain does not include mining of coins, fuel, or any form of currency.
© 2016 IBM Corporation 6
IBM’s point-of-view on Blockchain
6. Blockchain must be extensible to enable experimentation that will lead to innovations inconsensus algorithms, storage, integration and performance. Hyperledger supports a modulararchitecture which allows 3rd parties to create and plug-in new value that they can eithermonetize or place back into the community.
7. Cloud-based deployments will provide the automation needed to quickly and accurately enabledevelopers and operator to adopt blockchain
8. Use-cases for blockchain range from bold ideas to imagine (or re-imagine) business processesto more humble usage patterns to adopt sooner (2016) versus later. IBM defines four styles ofusage with increasing level of difficulty: compliance ledger, asset exchange, consortium ledgerand high value market ledger.
9. IBM Blockchain is conducting business in 2016 across three areas:
– Community development (Hyperledger)
– Cloud deployment which expands Hyperledger with value added features
– Client engagement via the Blockchain Garage.
10. IBM is engaging government and regulators to educate, demonstrate and encourage the broadadoption of Blockchain for Enterprise usage.
© 2016 IBM Corporation 7
Key Concepts and Benefits of Blockchain for Business
SmartContract
SmartContract
PermissionsPermissionsSharedLedgerSharedLedger
ConsensusConsensus
Ensuring appropriatevisibility; transactions aresecure, authenticated &verifiable
Ensuring appropriatevisibility; transactions aresecure, authenticated &verifiable
Business terms embeddedin transaction database &
executed with transactions
Business terms embeddedin transaction database &
executed with transactions
All parties agree tonetwork verifiedtransaction
All parties agree tonetwork verifiedtransaction
Append-only distributedsystem of record sharedacross business network
Append-only distributedsystem of record sharedacross business network
SavesSaves
Time
Transactiontime from days
to nearinstantaneous
LowersLowers
Cost
Overheads andintermediary
costs
ReducesReduces
Risk
Tampering, fraud &cyber crime
Benefits:
Key Concepts:
© 2016 IBM Corporation 8
Shared Ledger and Smart Contracts
Shared Ledger
• Records all transactionsacross business network
• Shared between participants
• Participants have own copythrough replication
• Permissioned, so participantssee only appropriatetransactions
• THE shared system of record
Smart Contracts
• Business rules implied by thecontract …embedded in theBlockchain &
• Executed with the transaction
• Verifiable, signed and encoded inprogramming language
• Example:
– Defines contractual conditionsunder which corporate Bondtransfer occurs
© 2016 IBM Corporation 9
Privacy and Pluggable Consensus
Permissions for Privacy
• Ledger is shared, but participantsrequire privacy
• Participants need:
– Transactions to be private
– Identity not linked to atransaction
• Transactions need to beauthenticated
• Cryptography central to theseprocesses
Consensus to verify transactions
• Anonymity is expensive
– Bitcoin cryptographic mining
• Participants known & trusted
– Lowers cost of consensus
• Pluggable Consensus alternatives
– Proof of Stake
– Multi-Signature (e.g. 3 of 5)
– PBFT (cross checked securemessage exchange)
© 2016 IBM Corporation 10
BlockchainUser
CertificateAuthority
BlockchainDeveloper
BlockchainNetworkOperator Traditional
ProcessingPlatforms
TraditionalData
Sources
Blockchain
B2Btransactions
access to logic
accessto data
createsapplications
operates
accessessecurity
certificates
Regulator
performsoversight
The Participants in a Blockchain Network
RU
D
O
© 2016 IBM Corporation 11
ValidatingNode B
ValidatingNode B
Validating Node CValidating Node C
ValidatingNode A
ValidatingNode A
ValidatingNode D
ValidatingNode D
ValidatingNode E
ValidatingNode E Blockchain Network A chain network that services
solutions built for a particular industry.
Shared Ledger: Records all transactions across business network
Consensus: Transaction validation & commitment
Non- ValidatingNode
Non- ValidatingNode
ChaincodeChaincode
StateStateLogicLogicChaincodeChaincode
ChaincodeChaincode
ChaincodeChaincode
Proprietor(s) setup and define thepurpose of a chain network. They are thestakeholders of a network.
Auditors(s): Individuals or organizationswith the permission to interrogatetransactions and the blockchain network.
Solution Users: end users typically initiate transactionson a chain network through applications made availableby solutions providers.
Non-Validating node: Constructstransactions and forwards them tovalidating nodes. Peer nodes keepa copy of all transaction recordsso that solution providers canquery them locally.
Solution Provider: Organizations thatdevelop mobile/web applications forsolution users to access chain networks.,they own either NV or Validating node.
Public transactions:transactions with itspayload in the clear
Membership Service (PKI)
ECAECA TCATCA TLS-CATLS-CAReg. AReg. A
Registration Authority: Assigns registration username & registration password pairs to networkparticipants. This username/password pair will be used to acquire enrollment certificate from ECA.
Enrollment CA (ECA): Issues enrollment certificates (ECert) to network participants that have alreadyregistered with a membership service. ECerts are long term certificates used to identify individual entitiesparticipating in one or more networks.
Transaction CA (TCA): Issues transaction certificates (TCerts) to ECert owners. An infinite number ofTCerts can be derived from each ECert. TCerts are used by network participants to send transactions.
TLS CA: Issues TLS certificates to systems that transmit messages in a chain network. TLS certificates areused to secure the communication channel between systems.
Chaincode (Smart Contract): Applicationlogics stored and executed on the blockchain.
Chaincode State: Chaincodes accessinternal state storage through state APIs.States are created and updated bytransactions calling chaincode functions withstate accessing logic.
Confidential transactions:transactions where its payload isencrypted and is only visible tostakeholders of this transaction
Confidential chaincode:chaincodes that only pre-definedsubset of validators can view andexecute
The Blockchain Network
© 2016 IBM Corporation 12
Blockchain Technical Terminology
Membership
Smart Contract Systems Management
Events
Consensus Network Wallet
Shared Ledgercontains the current world state of the ledger anda Blockchain of transaction invocations
encapsulates business network transactions incode. transaction invocations result in gets andsets of ledger state
a collection of network data and processing peers forminga Blockchain network. Responsible for maintaining aconsistently replicated ledger
manages identity and transaction certificates, aswell as other aspects of permissioned access
creates notifications of significant operations on the Blockchain(e.g. a new block), as well as notifications related to smartcontracts. Does not include event distribution.
provides the ability to create, change and monitor Blockchaincomponents
securely manages a user’s security credentials
responsible for integrating Blockchain bi-directionally with externalsystems. Not part of Blockchain, but used with it.
Systems Integration
© 2016 IBM Corporation 13
BlockchainforBusiness–IBMStrategy
Open Source Code: Blockchain builtfrom the ground up for business;Permission | PrivacyConfidential | Auditable
Open Governance – 40 memberboard.
Blockchain value-addedmanged service on SoftLayerand System Z:Identity | Consensus | Audit |System Integration |Hardware-assist forPerformance & Security.
Blockchain Solutions forFinancial Services;Trade Finance | Capital Markets
Blockchain GarageNY | London | Singapore | Japan
Blockchain GBS Practice
IBM BlockchainLinux
Hyperledger ProjectBlockchain SolutionsBlockchain Garage
Community + Code Cloud Clients
© 2016 IBM Corporation 14
IBMBlockchainPlatform
Capabilities
• Complete DevOps Lifecycle via Bluemix
• Smart contract language and API standards
• Enterprise-grade identity, security and privacy
• Seamless hybrid integration with legacy systems
• Market leading performance and scalability
IBM Differentiators
• Deep cryptography: skills, assets, IP from Research
• Hybrid Integration: WebSphere gateway & connectors
• Optimization: on Z with crypto hardware & blue cores
• Industry & domain expertise manifest in IBM solutions
• Future: Analytics & cognitive leadership on blockchain
© 2016 IBM Corporation 15
IBM Blockchain Architecture &Code offered to Linux Foundation
Openchain Services
Openchain APIs, SDKs, CLI
CHAIN-CODE
Chain-code
ServicesAP
Membership
Services
Registration
Attributes
Reputation
Blockchain Services
Consensus
Manager
Distributed
Ledger
P2P
Protocol
Ledger
Storage
Secure
Container
Secure
Registry
TRANSACTIONSBLOCKCHAI
NMEMBERSHIP
Event HubEvent Hub
MEMBERSHIPIdentity, Privacy and Auditability ofblockchain participants.
BLOCKCHAIN | TRANSACTIONSDistributed transaction ledgerwhereby the ledger is updated byconsensus
CHAIN-CODE“Smart Contracts”, provide ability torun business logic against theblockchain
APIs, SDKs, CLIGives developers the ability toprogrammatically control theblockchain networkOpen Source Code: Blockchain built from the ground up for business;
Permission | Privacy | Confidential | Auditable
© 2016 IBM Corporation 16
Blockchain – Perfect for Open Source
● New, potentially revolutionary technology
● Requiring multiple specialized skills to develop
● Used by multiple parties
● Controlled and monetized by no one
● Strong governance model
So the Hyperledger Project was created at the Linux Foundation
© 2016 IBM Corporation 17
Introducing Hyperledger
A collaborative effort created to advance blockchaintechnology by identifying and addressing important
features for a cross-industry open standard fordistributed ledgers that can transform the waybusiness transactions are conducted globally.
© 2016 IBM Corporation 18
NEWLY ANNOUNCED
© 2016 IBM Corporation 19
Election Announcements
BlytheMasters
CEO
Board Chair:Technical SteeringCommittee Chair:
General Member BoardRepresentatives:
Chris FerrisCTO Open Technology
Craig YoungCTO
CharlesCascarilla
CEO
© 2016 IBM Corporation 20
Connecting with the Hyperledger Project Community
• Mailing Lists: http://lists.hyperledger.org/
• Github : http://www.github.com/hyperledger
• Slack (if you need an invite, please click https://slack.hyperledger.org/)
• Wiki: https://github.com/hyperledger/hyperledger/wiki
• IRC: #hyperledger on freenode.net
• Code of Conduct https://github.com/hyperledger/hyperledger/wiki/Hyperledger-Project-Code-of-Conduct
• Working Group Meetings (Calendar)https://github.com/hyperledger/hyperledger/wiki/PublicMeetingCalendar
© 2016 IBM Corporation 21
6 Proposed Code contributions
© 2016 IBM Corporation 22
60+ Developers Attended First Hackathon
© 2016 IBM Corporation 23
Consolidation begins?
Fabric
Sawtooth Lake
© 2016 IBM Corporation 24
Current activity
• Requirements & Use cases WG – Patrick Holmes, Intel
• Architecture WG – Ram Jagadeesan, Cisco
• Identity WG – Christopher Allen, Blockstream
• Whitepaper WG – Dave Voell, J.P. Morgan
• Fabric Incubator
• Sawtooth Lake Incubator
• Release Integration - TBD
© 2016 IBM Corporation 25
© 2016 IBM Corporation 26
What’s next?
• Monthly “hackathon”
• Hire an Executive Director
• Exploration of Sawtooth Lake Incubator
– What can Fabric learn from STL and vice-versa
• Initial draft of Whitepaper to be published
• Requirements review by Technical Steering Committee
© 2016 IBM Corporation
Please join us!www.ibm.com/blockchain
www.hyperledger.org
@christo4ferris
@ajodowd
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