Demystifying blockchain Dec'18
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The document presents several real world examples of startups using blockchain technologies and cryptocurrencies, including Maecenas which tokenized a Andy Warhol painting and allowed fractional ownership, Kleros which builds decentralized arbitration systems for disputes, Etherisc which develops insurance products using smart contracts, and Trustory which aims to establish the veracity of news stories using a decentralized protocol.
Demystifying blockchain Dec'18
- 1. Presents Real world examples of Startups using Blockchain and Cryptocurrencies
- 2. About me (aka firesofmay) ๏ I'm Mayank Jain (Based in Pune). ๏ I'm a Software Engineer. ๏ Currently: ๏ Community Lead at Maecenas ๏ Community Manager at Etherisc ๏ Growth Hacking at OwnedLabs ๏ Mentor at 91Springboard
- 3. Past/Present Startups I've worked with cofound.it
- 4. 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 50s-60s Hardware Era Microprocessor: Open Source Computer 70s-80s Software Era 90s-00s Networks Era Linux & the Web: Open Source Software 2010 to ?? Crypto Era Cryptonetworks: Open Source Data Transistors replaced expensive vacuum tubes microprocessor replaced old CPUs networks replaced properitory software
- 5. 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 50s-60s Hardware Era Microprocessor: Open Source Computer 70s-80s Software Era 90s-00s Networks Era Linux & the Web: Open Source Software 2010 to ?? Crypto Era Cryptonetworks: Open Source Data Tech monopolies are historically broken by adding an "open source" layer
- 8. Salvator Mundi by the renowned Leonardo da Vinci. Recently sold at $450M
- 9. What are the issues in buying/ selling Paintings?
- 10. Users can buy a small piece of the painting What if? Original Painting
- 11. Users can buy a small piece of the painting What if? Painting Tokens Trading of Tokens
- 12. It is easy to prove fake from original What if?
- 13. What if? We can cut down cost by removing intermediaries
- 14. What if? Price discovery becomes easy due to ease of exchange
- 15. The first open blockchain platform that democratises access to Fine Art
- 17. In Sept'18, Maecenas successfully tokenized and auctioned a 31.5% stake in Andy Warhol’s 14 Small Electric Chairs (1980) collectively raising $1.7m
- 19. Next auction A Picasso Painting to be Tokenized on the Maecenas Platform 1/5
- 21. Alice hires Raj to build a website Dispute Resolution Alice sends payment to Raj Raj delivers the website Alice not satisfied Dispute Raj from India Alice from USA
- 22. 1B DISPUTES IN ONLINE TRANSACTIONS IN 2017 EBAY HAS 60M DISPUTES A YEAR Total Online Transactions 3-5% of online transactions end in a dispute
- 23. WHAT PROBLEM DOES KLEROS SOLVE? High volume of low value disputes where: - Courts and traditional arbitration methods are too expensive and complex. - Enforcement is hard or impossible without smart contracts.
- 24. WHAT IS KLEROS SOLUTION? • Decentralized autonomous organization • Crowdsourced jurors to solve disputes. • Blockchain guarantees evidence integrity, transparency in jury selection • Incentives for honest rulings and smart contract enforcement.
- 25. Sign a contract for a freelance website and select Kleros as arbitrator. Alice sends payment to an escrow smart contract. DISPUTE E-COMMERCE SUBCOURT FREELANCING SUBCOURT JURY SELCTION Users stake PNK tokens to be randomly selected as jurors. The more PNK a user stakes, the higher the probability he will be drawn as juror. Jurors are drawn among users who staked tokens. USER X Not Selected USER X Not Selected ALICE ALICE RAJ ALICE WINS THE SMART CONTRACT SENDS FUNDS TO ALICE Jurors are paid arbitration fees and the case is closed.
- 26. 1. Protecting the system against the sybil attack (Fake Accounts) and the 51% attack. Pinakion (PNK) is an Ethereum ERC 20 token that fulfils three functions:
- 27. 2. Incentivizing jurors to vote honestly using the concept "Schelling focal point Introduced by the Nobel Memorial Prize- winning American economist Thomas Schelling in his book The Strategy of Conflict (1960). Pinakion (PNK) is an Ethereum ERC 20 token that fulfils three functions:
- 28. 3. Liquid Voting Pinakion (PNK) is an Ethereum ERC 20 token that fulfils three functions:
- 29. https://dogesontrial.dog/ Beta Pilot to test Cryptoeconomics
- 30. Round Is a Doge Is NOT a Doge 1 0 3
- 31. Round Is a Doge Is NOT a Doge 1 0 3 2 2 1 3 0 14
- 32. Round Is a Doge Is NOT a Doge 1 1 2 2 0 6 3 3 12 4 5 26 5 22 31 6 24 98 2/5
- 36. Flight Delay insurance in Action
- 41. TruStory
- 43. There are three phases to a story Phase 1 When a story gets posted, others have the chance to back it, challenge it or add supporting or counter- evidence to it
- 44. https:// www.newsbtc.com/ 2018/04/07/no-india-not- banned-bitcoin-trading- government-confirms/ Submits evidence to prove it's not a TruStory
- 45. Phase 2 During the voting period, people can stake their tokens and vote on it with their reputation.
- 46. Phase 3 After the voting period, the story gets established as true or false on the platform.
- 48. Some Blockchain Projects World Computer First Cryptocurrency Digital identity DAI: Decentralised Stable Coin Monero: Privacy Focused Payments for IOT Devices
- 49. Some Blockchain Projects Decentralised Prediction Marketplace Run your own online Smart Contract Casino Rent your computer for decentralised computation Decentralised cloud file storage Decentralized ad-network Governance of Decentralised organizations
- 50. Some examples of Indian Blockchain Startups Nucleus Vision Matic.Network
- 51. The Blockchain ecosystem https://coinmarketcap.com/ Click here to view expanded Image
- 53. @firesofmay linkedin.com/in/firesofmay/mayank@firesofmay.com Further Reading • https://avc.com/2018/12/centralization-vs-decentralization • Placeholder Thesis • http://cdixon.org/2015/01/31/come-for-the-tool-stay-for-the-network/ • https://www.maecenas.co/ • https://etherisc.com/ • https://springrole.com/ • https://www.trustory.io/ • https://medium.com/@james_3093/the-dai-stablecoin-is-a-game-changer-for- ethereum-and-the-entire-cryptocurrency-ecosystem-13fb412d1e75