How Blockchain Transforms B2B Transactions

Editor's Notes

• #3: To that end, I would like to take a few minutes to discuss three topics with you: The key elements of the Crowdz solution and the technology behind it. How the Crowdz solution can provide powerful benefits for BASF. And a 4-phase plan for us to work together. Do you have any questions before we begin?
• #6: In Step 2 of our development, the blockchain pulls all of this together. But just what is the blockchain—this technology that PC Magazine recently called “The Invisible Technology That’s Changing the World”? There are four key characteristics of blockchain: It’s based on a distributed global network of computer systems. Unlike the regular Internet, it operates without a central governing authority. It manages vast volumes of information & transaction records. And it does so in permanent, tamper-proof databases called “digital ledgers.”
• #9: Let me make this concept a bit more concrete for you.   Consider the chair you’re sitting in. It was bought by the Barclays Purchasing Department from a reseller in London called ARAM. These chairs come from a Swiss designer.   The chair was manufactured in Germany.   The plastics that the chairs are made from comes from a plastics facility in mainland China that uses raw materials mined from throughout Asia.   This sounds like a rather complicated supply chain for a chair, and IT IS!  
• #10: In fact, at least 300 different pieces of paper from at least 20 companies were required to make the chair you are sitting on today!  
• #11: However, there’s a glaring omission in China’s program: this new Silk Road has no digital infrastructure. It still is a very manual process, with a lot of paperwork that my family would recognize 100 years ago!
• #16: Block chain technology is challenging the status quo in a radical way . By using math and cryptography provides open decentralized database of any and every transaction involving a value- money, goods, properties, work or even vote.. “Blockchains are ledgers, but they accept inputs from lots of different parties. The ledger can only be changed when there is a consensus among the group. That makes them more secure, and it means there's no need for a central authority to approve transactions.” Creates Ledger of transaction on the internet, that is secure, tamper proof and easily accessile Like Internet- it doesn’t have central authority, instead has a shared record of transactions distrusted amoung vast network of users.
• #17: Like Internet- it doesn’t have central authority, instead has a shared record of transactions distributed among vast network of users. Made of series of blocks of data each of which records a batch of transaction Blocks are electronically chained together and locked up with advanced cryptographic to get permanent and public records for every transactions
• #18: Like Internet- it doesn’t have central authority, instead has a shared record of transactions distributed among vast network of users. Made of series of blocks of data each of which records a batch of transaction Blocks are electronically chained together and locked up with advanced cryptographic to get permanent and public records for every transactions
• #19: Like Internet- it doesn’t have central authority, instead has a shared record of transactions distributed among vast network of users. Made of series of blocks of data each of which records a batch of transaction Blocks are electronically chained together and locked up with advanced cryptographic to get permanent and public records for every transactions
• #29: Our long-term opportunity is even greater than connecting the silk road. In the same way that the Internet became the backbone for ecommerce, Crowdz will become the backbone for all of global commerce. We look forward to partnering w/ you on this $9 Trillion market!