Blockchain presentation for Devfest 2018
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Blockchain technology is a decentralized and transparent ledger that records transactions across a network, offering trustless systems for various applications like property registries and peer-to-peer transfers. Smart contracts, which operate on blockchains, automate and enforce agreements in a decentralized and immutable manner. There are two types of blockchains—permissioned and permissionless—with the latter, exemplified by Bitcoin, allowing unrestricted access and participation.
Blockchain presentation for Devfest 2018
- 2. What Is A Blockchain? ● A blockchain is a ledger that keeps a shared record of all the transactions distributed over a vast network of users. ● Key aspects of blockchain are- ○ Decentralization ○ Immutability ○ Trustless ○ Transparency
- 3. Why Blockchain ? - To create a trustless system - Ex. Exchange of items, - To create an Immutable system - Ex. Credit history - For decentralised system - Ex. Peer to Peer Money transfer, where no central bank is required - For transparency - Ex. Registries of real estate properties. Anyone can view provenance of ownership. - For anonymity - Ex. In case of media censorship by government, people can use blockchain to create anonymous public forums, where they can discuss without being censored.
- 4. Trust ?
- 5. Trust ?
- 8. What are smart contracts? ● A smart contract is a program whose execution is ○ Decentralized ○ Immutable ○ Trustless ○ Transparent ● Analogous to traditional contracts, ○ A smart contract is an agreement that can be enforced through a blockchain. ● An example of a smart contract can send, receive and store money. ● It can also interact with other smart contracts or any computational systems connected to the internet.
- 10. Smart contract
- 11. Permissioned Blockchain Sometimes referred to as “private” blockchains, you are required to have some sort of permission to access any or parts of that blockchain. There are a multitude of variants and hybrid permissioned/permissionless blockchains that exist. For example a blockchain may be public to read the information but require permission to access or transact on their network.
- 12. Permissionless Blockchain Bitcoin as was already described above is the example of a permissionless blockchain. There is no barrier to entry to use it. Anyone can run a node, run mining software/hardware, access a wallet and write data onto and transact within the blockchain (as long as they follow the rules of the bitcoin blockchain). There is no way to censor anyone, ever, on the permissionless bitcoin blockchain.
Editor's Notes
- #2: Good Evening friends, Myself Tanuj Soni I am a XYZ at Techracers, my work revolves around blockchain projects and how this technology can revolutionize the way things operate in real-world. Today i will be talking about the basics of blockchain and why it is important. Further i will be discussing Smart Contracts and Blockchain Use Cases with you. Although, the time is limited, i hope this tech conversation will help you gain key insights on blockchain.
- #3: Blockchain technology has become relevant on the market following the appearance of Bitcoin, as it represents its back-bone, and the innovation that makes digital currencies so interesting and full of potential.
- #4: In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. This is so thanks to the fact that blockchains provide a historical record of all transactions. In the future, it is believed that blockchain technology will revolutionize the way B2B/user transactions and processes are carried out, especially following the introduction of other technologies such as automation, artificial intelligence, Internet of Things and machine learning.
- #5: Trust Issue? Ex. Order something online, and do an online payment, is due ti the fact that you trust them. It may happen that you paid and didn’t get anything. In that case you can’t do much, you have to go to Police start a case and all those stuff. Also sometimes it may happen that, you won’t get the stuff you ordered This is in case when you trust someone, Imagine dealing with someone whom you don’t trust, would you able to do transaction for goods or exchange? Let’s say in our case -
- #6: Trust Issue? This is in case when you trust someone, Imagine dealing with someone whom you don’t trust, would you able to do transaction for goods or exchange? Let’s say in our case -
- #7: Tx are syncing in real time with all 4 parties
- #8: Replace users/parties with Computer systems, and you got a blockchain system
- #9: You might be hearing a lot about Smart Contract nowadays But what are these? What problems do they solve? In layman terms Smart contracts are contracts just like contracts in real world, Like a Rental Agreement, Policy Document Main difference is that they are Digital. In Fact it's just a simple computer program stored in the blockchain.
- #12: Blockchain being an emerging technology, there is quite a bit of confusion on the market relating to the differences between permissioned and permisionless networks. Let's find out! Permissioned Distributed Ledgers Sometimes businesses need to share data but not with everyone. For example, if you are a bank and your customer wants to transfer money to a friend you will have to share this data with the other bank. However, you don’t want anyone besides the involved parties to know what’s being moved. On the other hand, permissionless distributed ledgers are the same as Bitcoin — anyone can join and have access to the ledger. There are no authorization nor restrictions on who can view which data. Trust is enforced by cryptographic proof of work
- #13: Now that we have a general understanding of decentralized and centralized systems we can more readily understand permissionless and permissioned blockchains. They allow every user to create a personal address and begin interacting with the network, by submitting transactions, and hence adding entries to the ledger. Additionally, all parties have the choice of running a node on the system, or employing the mining protocols to help verify transactions.
- #14: USE CASES: DISTRIBUTED ENERGY SYSTEM BLOCKCHAIN BASED ELECTRICITY/WATER DISTRIBUTION GRIDS BLOCKCHAIN BASED CARBON EMISSION TRACKING ASSET MANAGEMENT SYSTEM LAND AND PROPERTY MANAGEMENT VEHICLE TRANSPORTATION MANAGEMENT BUILDING DESIGN, CONSTRUCTION AND INSPECTION CERTIFICATION HEALTHCARE MANAGEMENT SYSTEM ELECTRONIC HEALTH RECORDS IDENTIFICATION OF COUNTERFEIT DRUGS PROCESSING OF INSURANCE CLAIMS BLOCKCHAIN FOR eGOVERNANCE GOVERNMENT WELFARE DISTRIBUTION FILE TRANSFER AND SHARING CIVIL ID LINKING (AADHAR) PUBLIC GRIEVANCE MANAGEMENT IDENTITY (KYC) MANAGEMENT BIRTH AND DEATH REGISTRATION IDENTITY VERIFICATION BANKING AND INVESTMENT SERVICES AGRICULTURE SECTOR PRODUCT TRACKING ISSUES DENTIFICATION OF COUNTERFEIT PESTICIDES FOOD TRACEABILITY AGRI DATA MONITORING LOAN AND GOVT. SCHEMES FOR FARMERS
- #15: You can learn more about these in techracers website and medium channel. For more discussion, we can get in touch with me offstage.
- #16: Hope you get the idea about the blocckhain and digital ledger technology Have a great time.