Open & Private Blockchains at CSCMP Benelux Supply Chain Event
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This document is a series of slides from a presentation by Sam Wouters on blockchains and bitcoin. It discusses the key differences between open and private blockchains, how blockchains work through decentralization, immutability and other principles, and potential applications of blockchain technology beyond digital currency, including for finance, supply chains, identity and more. It argues that open blockchains have advantages over private blockchains in fostering innovation, though private blockchains may have some uses for internal networks.
Open & Private Blockchains at CSCMP Benelux Supply Chain Event
- 2. samwouters.com Speaker on Bitcoin & Blockchain Digital Transformation Consultant at Duval Union Consulting WWW sam.wouters@duvalunion.com Sam Wouters @sdwouters
- 3. ‣ We are a digital consulting company. ‣ Founded in 2009 as DearMedia. ‣ We work for large European clients. ‣ We have a strong vision on the impact of digital and act accordingly. ‣ We are advisors, writers, coaches and entrepreneurs.
- 5. Invented in 2008: a system to eliminate the need for “trusted” third parties bitcoin.org/bitcoin.pdf
- 6. @SDWOUTERS “bitcoin is digital money” Who has heard of Bitcoin before today? Positive image? Negative image? Who fundamentally understands Bitcoin?
- 7. Media that predicted The Death of Bitcoin bitcoinobituaries.com Deaths by publication: DailyPaulCNNCity A.M.ChronBroken Librarian BTC Feed Business Insider BloombergAbout.com Acton BizNews.comArduino TronicapenwarrAOL Financial TimesFester’s DenDavid Seaman FortuneForbesFool.com Fusion Gizmodo Australia IEX International Business Times Javamazon Moneygeek MyBroadBandMother Jones News.com.au NewStatesman NY Mag OUI Share The New York TimesThe KernelThe Calculating InvestorStreet Insider Sputnik NewsPYMNTS.com Reuters Robert Nielsen Salon Seeking Alpha The Underground EconomistThe Telegraph The Washington Post The Weekly Standard USA Today Valley News VICE News Wired YahooWall Street Daily
- 8. @SDWOUTERS Bitcoin has been running non-stop for 7+ years 160M 434K $150M $105B Transactions Blocks in the blockchain in transactions per day currently Transferred over the blockchain 466M 16M 11B 160K bitcoins transferred over the blockchain Amount of Bitcoins that currently exist Value of all bitcoins companies (indirectly) accept bitcoins
- 9. Banks: Bitcoin can’t work, it’s all about the Blockchain
- 10. @SDWOUTERS Bitcoin is a way to digitally transfer ownership without a middleman The blockchain is a database that records ownership throughout time What’s the difference?
- 11. A 5 minute explanation won’t make you understand why they matter
- 12. @SDWOUTERS WHAT can we do with them? HOW do they work? WHY do blockchains exist?
- 15. @SDWOUTERS Why do digital money transfers take days?
- 16. @SDWOUTERS Fees hurt profit margins for businesses 9% FEE?
- 17. @SDWOUTERS Financial innovation is held back by rules and regulations
- 18. @SDWOUTERS But this is innovation!
- 19. Say that to the 40% unbanked adults worldwide…
- 20. And to the people who pay 5-25% money transfer fees @SDWOUTERS
- 21. @SDWOUTERS If you want to send money you have to WAIT PAY
- 22. @SDWOUTERS Yet we can do THIS? @SDWOUTERS
- 23. @SDWOUTERS This is about more than global payments @SDWOUTERS
- 24. We have more debt than can EVER be repaid
- 25. @SDWOUTERS We have unprecedented money printing
- 26. @SDWOUTERS Soon you’ll be PAYING banks so they can do risky investments with your money
- 27. Resulting in "cosy" relationships between financial businesses and regulators. We are fighting a never ending flood @SDWOUTERS
- 28. @SDWOUTERS WHY do blockchains exist? Open Blockchains Private Blockchains Make existing players a few % more efficient Make the world a fairer place
- 29. @SDWOUTERS HOW do they work? WHY do blockchains exist?
- 30. @SDWOUTERS Open Blockchains HOW do blockchains work? 1 Censorship resistance
- 31. @SDWOUTERS Ownership is TRANSFERRED directly between two parties
- 32. @SDWOUTERS Transactions are synchronised through the network
- 33. How do we Record transactions so nobody can change them? @SDWOUTERS
- 34. The blockchain is a global “bookkeeping” system It records who owns what, and when @SDWOUTERS
- 35. @SDWOUTERS Open Blockchains HOW do blockchains work? 1 Censorship resistance 2 Decentralization
- 36. @SDWOUTERS Problems Solutions Central point of failure Decentralized network Expensive to secure Shared security cost Trust who is in charge Trust a fixed set of rules Centralized All organizations
- 37. @SDWOUTERS Problems Solutions Central point of failure Decentralized network Expensive to secure Shared security cost Trust who is in charge Trust a fixed set of rules Decentralized The Internet & Bitcoin Centralized All organizations
- 38. The Bitcoin network is 20.000 times stronger than the top 500 supercomputers in the world Blockchains are secured by computing power from people and companies all over the world @SDWOUTERS
- 39. @SDWOUTERS Open Blockchains HOW do blockchains work? 3 Immutability 1 Censorship resistance 2 Decentralization
- 40. … The “miners” verify transactions and add them to the next block in the Blockchain
- 41. @SDWOUTERS Change a transaction? Change the link
- 42. @SDWOUTERS The network will see and reject your fraud
- 43. @SDWOUTERS To convince them you need to create a longer blockchain than the entire network combined
- 44. @SDWOUTERS Miners earn new currency and tiny transaction fees for their work and electricity
- 45. @SDWOUTERS Open Blockchains HOW do blockchains work? 3 Immutability 1 Censorship resistance 2 Decentralization 4 Open access
- 46. Send payments on any network, without risk
- 47. An open blockchain is open to anyONE without identification or authentication @SDWOUTERS
- 48. @SDWOUTERS No criminal wants to leave permanent evidence
- 49. @SDWOUTERS Open Blockchains 3 Immutability 5 Open innovation 1 Censorship resistance 2 Decentralization 4 Open access HOW do blockchains work?
- 50. Anyone can develop new applications for an open blockchain, without permission
- 51. @SDWOUTERSinternetlivestats.com/internet-users/ The same force driving internet innovation for 20 years
- 52. @SDWOUTERS Creates huge value for consumers, economic growth, jobs
- 53. @SDWOUTERS Open Blockchains Private Blockchains Editability 3 Centralization 4 Interoperability 1 Business innovation 5 Permissioned access 2 3 Immutability 5 Open innovation 1 Censorship resistance 2 Decentralization 4 Open access HOW do blockchains work?
- 54. @SDWOUTERS WHAT can we do with them? HOW do they work? WHY do blockchains exist?
- 56. Money is the tip of the iceberg
- 57. @SDWOUTERS What other opportunities are out there? Finance Internet of Things? Energy? Supply chain? Identity? Property? Legal?
- 58. @SDWOUTERS The major challenge of Supply Chain blockchains Getting everyone on the same chain
- 59. @SDWOUTERS Potential solutions: Sidechains or Interledger blockstream.com interledger.org
- 60. @SDWOUTERS “Blockchain could disrupt everything”
- 61. @SDWOUTERS THE BLOCKCHAIN is an inefficient database
- 62. Imagine a massive decentralized Dropbox synchronizing 24/7
- 63. But all these banks are investing in blockchains!
- 64. @SDWOUTERS 3 Immutability 5 Open innovation 1 Censorship resistance 2 Decentralization 4 Open access Banks/governments won’t replicate the BlockchainOpen Editability 3 Centralization 4 Interoperability 1 Business innovation 5 Permissioned access 2 Private
- 65. @SDWOUTERS When open blockchains solve privacy & scalability companies may build services on them instead Security Neutrality Development
- 66. @SDWOUTERS Private blockchains may have “use cases” like intranets do The Blockchain The Internet “Private” Blockchains Intranets
- 67. @SDWOUTERS Private blockchains can learn from Open ones The Blockchain The Internet “Private” Blockchains Intranets Sidechains Live environment
- 68. @SDWOUTERS The open Blockchain will create the most value The Blockchain The Internet “Private” Blockchains Intranets >
- 69. samwouters.com Speaker on Bitcoin & Blockchain Digital Transformation Consultant at Duval Union Consulting sam.wouters@duvalunion.com Sam Wouters @sdwouters WWW