Deep dive: enterprise blockchain
- 1. Data Deep Dive: The Enterprise Blockchain
- 2. Is the Blockchain Really Over, Or Just Getting Started?
- 3. Bitcoin Price Chart Search popularity for “blockchain”
- 4. The ICO Boom, Then . . . $0B $8B $15B $23B $30B 0 300 600 900 1,200 2015 2016 2017 2018 # of ICOS Total Raised $21.5 $6.6 $0.9$0.0 1,075 453 51 77 51 453 1,075 Source: CoinSchedule
- 5. . . . and Now Source: CoinSchedule
- 6. Still an Electricity Hog (enough to power 4.3 million homes)
- 7. Where’s the Beef? “A particular concern, given the amount of money and time spent, is that little of substance has been achieved. Of the many use cases, a large number are still at the idea stage, while others are in development but with no output. The bottom line is that despite billions of dollars of investment, and nearly as many headlines, evidence for a practical scalable use for blockchain is thin on the ground.” —McKinsey report on Blockchain, January 2019
- 8. And Yet The Technology Is Real, Progress Is Being Made. . .
- 9. Across corporations, startups, protocols, + platforms
- 10. Let’s Take A Step Back and Assess The Situation • Hundreds of Projects + Startups • Attracting lots of technical talent • Solves many thorny problems around trust + transparency • Growing set of industry use cases
- 11. A 2018 Deloitte Survey of enterprise executives: • 84% believe blockchain technology will eventually become mainstream • 74% believe there is a compelling business case for blockchain Source: Deloitte
- 12. 43% consider blockchain a critical priority Source: Deloitte
- 13. What is the Blockchain? A. Distributed Ledger B. Distributed Database C. Decentralized Trust Network D. All of the Above
- 14. When is the blockchain the right answer? • When trust is difficult or expensive to achieve • There is a real business problem • Complex transactions or inefficient business processes • Coordination between multiple parties is involved • A business network exists • Assets or rights are being transferred
- 15. When is the blockchain NOT the answer? When centralized trust or current technologies already work!
- 16. “Blockchain is Silicon Valley raising the pirate flag again and doing something interesting and slightly dangerous and subversive.” —Chris Dixon The Blockchain is a Return to Permissionless Innovation (What made the Internet Great in the first place)
- 17. The Big Debate: Permissioned vs. Permissionless “Decentralizing the network secures it. If you run a highly permissioned system where you control the nodes, you are merely opening with the same single point of failure weaknesses already inherent in non-blockchain centralized systems we have today.” —Dustin Dreifuerst
- 18. Most Enterprises Are Going With Permissioned Blockchains Source: Deloitte
- 19. “Cryptocurrencies—coins and tokens built into specific blockchains—provide a way to incentivize individuals and groups to participate in, maintain, and build services.” —Chris Dixon Tokens and Services Can tokens do for cloud-based services what open source did for software?
- 20. Where is Blockchain Being Used? Source: Deloitte
- 21. Low-Hanging Fruit Source: Deloitte Trade Finance Identity/Know Your Customer (KYC) Health Data Supply Chain Insurance Loyalty Programs Food Safety Provenance Distributed Energy Digital Identity Services Digital Asset Management Royalty Payment Distribution Cross-Border Payments Smart Contracts Custody & Asset Tracking Transaction Settlements Regulatory Compliance IoT Machine-as-a-Service Patient data ownership Medical data aggregation Insurance claims clearing Clinical supply chains Provider credentials Value-based care payments
- 22. Industry Pilots Source: Deloitte Label-as-a-service for protecting the supply chain with tamper-evident labels Buhler—Tracking crops from Farm to ForkInsurewave/Maersk—Marine insurance Royalty payments to game publishers Rezjet—Payment reconciliation for online travel
- 23. The U.S. is lagging adoption Source: Deloitte
- 24. How Can Your Company Get Started? 1. Find the blockchain enthusiasts inside your company 2. Ask them to help identify problems that can be solved with the blockchain 3. Find the right tools and technologies for your industry 4. Join a consortium 5. Start a pilot
- 26. Check Out These Enterprise Blockchain Startups
- 27. Research More Blockchain Startups on the Traction Platform
- 28. 2019 Traction Tech Council Agenda