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IBM Confidential: © 2016 IBM Corporation Blockchain: Point of View Luca Comparini IBM France – Blockchain Leader

TIAD 2016 : IBM Blockchain Point of view

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Page 1: TIAD 2016 : IBM Blockchain Point of view

IBM Confidential: © 2016 IBM Corporation

Blockchain: Point of ViewLuca CompariniIBM France – Blockchain Leader

Page 2: TIAD 2016 : IBM Blockchain Point of view

IBM Confidential: © 2016 IBM Corporation

A look to the past

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IBM Confidential: © 2016 IBM Corporation 3

The genesis block of business ledgers(double entry book-keeping)

« Tractatus XI particularis de computibus et scripturis »

Luca Pacioli (1494)

Ledger: the system of record for a business (Business will have multiple ledgers for multiple business networks in which they participate.)

Transaction: an asset transfer onto or off the ledger

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The genesis block of transactional business machines

IBM System 360, 1965 IBM Hard Disk, 1956 (5 MB)

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The genesis block of International Business Machines

IBM Cheese-Cutter, 1920IBM Scale, 1911 IBM Time-Stamp(Proof of Existence Machine)

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The genesis block of shared distributed ledgers

Satoshi Nakamoto (?)

Bitcoin P2P e-cash paper Satoshi NakamotoSat, 01 Nov 2008 16:16:33 -0700

I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.

The paper is available at: http://www.bitcoin.org/bitcoin.pdf

The main properties: - Double-spending is prevented with a peer-to-peer network. - No mint or other trusted parties.- Participants can be anonymous. - New coins are made from Hashcash style proof-of-work. - The proof-of-work for new coin generation also powers the

network to prevent double-spending.

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The genesis block of Blockchain and IoT

Supply ChainSmart Object

RetailerJanuary 2015Project ADEPTIBM + Samsung

Smart ContractDigitalized self-executable contract

with embedded business logic

https://www.youtube.com/watch?v=U1XOPIqyP7A

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http://www-935.ibm.com/services/us/gbs/thoughtleadership/internetofthings/

Device Democracy

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IBM Confidential: © 2016 IBM Corporation

IBM Perspective

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Same ingredients, different qualities, different Use Cases

Based on:- Swanson, T. (2015). Consensus as a service: a brief report on the emergence of permissioned, distributed ledger systems. - Brown, R. G. (2015) Towards an unified model for replicated, shared ledgers.

PermissionedPermission-less

Design points:- Public network with no 3rd parties- Trustless environment- “Censorship-Resistance”

Consensus:- Expensive, slow- Incentives intrinsic to platform

Design points:- Private / Semi-private network- Actors known / knowable- Regulated Industries

Consensus:- Protocol assumes known actors- Incentives extrinsic to platform

IBM focus is here

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Other challenges to make Blockchain real for BusinessPrivacy & Confidentiality

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Other challenges to make Blockchain real for BusinessGovernance…

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Make Blockchain real for Business

Confidentialpermission

control

Privateun-linkable identity

Shared Ledgersingle source of

truth

Securetamper proof

(extra security)

Audit-able prove identity &

ownership

Viable100+ year

architecture

Smart Contractsbusiness logic

Digital assetsRecord depository

ConsensusModular protocol

PermissionedParticipants

Identity

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Hyperledger experience at BlockFest 1.0

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Hyperledger experience at BlockFest 1.0

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Supply Chain Financing – Demo ContextAbout IGF :§ IBM Global Finance (IGF), the internal Bank of IBM § Lends $44bn a year to 4000+ partners to pay suppliers (IBM clients or not)§ 2,9 million invoices § 25,000 disputes for $100 million § 44 days to resolve dispute

Shadowchain employed for IGF…§ Not replacing the current system with a full Blockchain system§ The technology is only used to enrich current IGF lending system

"No, I'm not suggesting the moonshot of immediately redoing our global financing, lending system on a blockchain. But we havenow employed a shadow chain: my definition of shadowchain is it's not replacing the primary business process, it's being used to enrich that business process with a useful function that it currently doesn't do.”

Source: IBM blockchain leader Jerry Cuomo

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IBM Confidential: © 2016 IBM Corporation

Thanks ! Questions ?