Blockchain_visual-Rituraj
- 1. Blockchain Demo App Rituraj Mehrotra 4th July 2016 Picture source 123rf.comAdopted with thanks from IBM’s ‘Asset Transfer Application’
- 2. OBJECTIVE To visually demonstrate a ‘Chain’ of ‘Blocks’ Rituraj Mehrotra
- 3. A SIMPLE APPLICATION Two Banks (Peers) Transferring Funds (Assets) to each other ANZ CORRESPONDENT Source: tricks-collections.com Rituraj Mehrotra
- 4. User Interface – A blank slate Rituraj Mehrotra
- 5. ACTION #1 Deposit funds with ANZ
- 6. This ball depicts EUR 10,000 FUNDS Transaction Reference (Funds) Colour = CURRENCY Size = VALUE Deposit with = ANZ ACTION #1 – Deposit funds with ANZ Rituraj Mehrotra STEP 1 - CREATE
- 7. ACTION #1 – Deposit funds with ANZ STEP 2 - Funds appear under ANZ STEP 3 - A corresponding block gets added to the ‘Chain’, completing transaction ‘Block’ details Rituraj Mehrotra
- 8. Lets take a closer look at ‘The Block’
- 9. The ‘Block’ – A closer look (Block height) This is the 65th Block in the chain Rituraj Mehrotra
- 10. The ‘Block’ – A closer look (UUID) UUID - Unique Identifier for this transaction Rituraj Mehrotra
- 11. The ‘Block’ – A closer look (CCID) CCID- Unique Hash Identifier for this block CCID for Block 64 UUID for Transaction 65 Other Inputs (e.g. Nonce) Hashing Function CCID for Block 65 Blocks get interlinked, forming a Chain Rituraj Mehrotra
- 12. The ‘Block’ – A closer look (Payload) This Block initializes funds Transaction reference Colour – depicting currency Owner of the funds - ANZ Rituraj Mehrotra
- 13. ACTION #2 Deposit funds with Correspondent
- 14. (Funds) ACTION #2 – Deposit funds with Correspondent Different Currency Lower value Rituraj Mehrotra STEP 1 - CREATE
- 15. (Funds) ACTION #2 – Deposit funds with Correspondent Step 3 - Block 66 gets added to the ‘Chain’, completing transaction Step 2 - USD deposit appear in Correspondent account Rituraj Mehrotra
- 16. (Funds) Block 66 – A closer look Rituraj Mehrotra
- 17. (Funds) Block 66 – A closer look Initialise Funds The new transaction reference Green depicting USD Correspondent as owner Rituraj Mehrotra
- 18. ACTION #3 Transfer funds from ANZ to Correspondent
- 19. ACTION #3 – Transfer funds to Correspondent Step 1 - Drag Red ball from ANZ to Correspondent Step 2 - Block 67 gets added to the ‘Chain’, completing transaction Rituraj Mehrotra
- 20. (Funds) Block 67 – A closer look Rituraj Mehrotra
- 21. (Funds) Block 67 – A closer look This Block sets a new owner to an existing ball (fund) Ball ‘eur01’ is transferred Correspondent is the new owner of ‘eur01’ Rituraj Mehrotra
- 22. ACTION #4 Transfer funds from Correspondent to ANZ
- 23. ACTION #4 – Transfer funds to ANZ Step 1 - Drag Green ball from Correspondent to ANZ Step 2 - Block 68 gets added to the ‘Chain’, completing transaction Rituraj Mehrotra
- 24. Block 68 – A closer look ANZ is the new owner of ‘USD01’ Rituraj Mehrotra
- 25. ACTION #5 Add more funds to Correspondent
- 26. ACTION #5 – Add more EURO to Correspondent Drag Green Marble from Correspondent to ANZ Block 68 gets added to the ‘Chain’, completing transaction Another Euro deposit with Correspondent Block 69 gets added to the ‘Chain’, completing transaction Rituraj Mehrotra
- 27. 65,66,67,68,69… … and the chain builds! No intermediary No settlement No reconciliation Acknowledgement and thanks to IBM. IBM has open sourced ‘Openchain’ code and contributed to ‘Hyperledger’ project being run by Linux foundation Rituraj Mehrotra THANKYOU