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© 2016 IBM Corporation
Making Blockchain Real for
Business
Explained
1
V2.11 10 Feb 16
https://ibm.box.com/BlockExp
© 2016 IBM Corporation 2
Business Networks, Markets & Wealth
• Business Networks benefit from connectivity
– Connected cus...
© 2016 IBM Corporation 3
L
e
d
g
e
r
s
a
r
e
I
• Ledger [1] is THE system of
record for a business
– records asset transfe...
© 2016 IBM Corporation 4
I
n
t
r
o
d
u
c
i
n
g
B
A shared ledger technology allowing any participant in
the business netwo...
© 2016 IBM Corporation 5
Problem - Difficult to monitor asset ownership and transfers in a trusted 
business network
Count...
© 2016 IBM Corporation 6
Solution – shared, replicated, permissioned ledger
Counter-party
records
Bank records
Party C’s R...
© 2016 IBM Corporation 7
Blockchain underpins Bitcoin . . .
1. is unregulated, censorship-resistant
shadow currency
2. Blo...
© 2016 IBM Corporation 8
Blockchain for Business
Smart
Contract
Privacy
Shared
Ledger
Consensus
Ensuring appropriate
visib...
© 2016 IBM Corporation 9
Shared Ledger
• Records all transactions across
business network
• Shared between participants
• ...
© 2016 IBM Corporation 10
S
m
a
r
t
C
o
n
t
r
a
c
• Business rules implied by the
contract . .
• . . embedded in the Block...
© 2016 IBM Corporation 11
P
r
i
v
a
c
y
• Ledger is shared, but participants require
privacy
• Participants need:
– Transa...
© 2016 IBM Corporation 12
C
o
n
s
e
n
s
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s
• … the process by which transaction are verified
• When participants are anon...
© 2016 IBM Corporation 13
I
n
d
u
s
t
r
i
a
l
B
l
Reduce costs and complexity
Improve discoverability
Why?
Trusted recordk...
© 2016 IBM Corporation 14
O
t
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r
P
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t
e
n
t
i
• Securities
– Post-trade settlement
– Derivative contracts
– Securities...
© 2016 IBM Corporation
Hyperledger Project
15
 Linux Foundation - announced 17th December 2015
 New Hyperledger project ...
© 2016 IBM Corporation
Hyperledger Project Members [1]
16
[1] At 17th December 2015
How?
© 2016 IBM Corporation 17
Summary
1. Blockchain is a shared, replicated, permissioned ledger
technology
2. Blockchain can ...
©2016 IBM Corporation
Thank You!
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Elets BFSI CTO Summit - Panel Discussion - Discussion on Block Chain Technology - Praveen Jayachandran, Reserch Scientist, IBM Research

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Elets BFSI CTO Summit - Panel Discussion - Discussion on Block Chain Technology - Praveen Jayachandran, Reserch Scientist, IBM Research

Blockchain technology is a relatively new concept and rapidly growing industry. The disruptive potential of blockchain is widely claimed to equal that of the early commercial Internet. A crucial difference, however, is that while the Internet enables the exchange of data, blockchain could enable the exchange of value; it could enable users to carry out trade and commerce across the globe without the need for payment processors, custodians and settlement and reconciliation entities. This panel discussion will enable having an holistic vision into the trending subject with an effective view-point from eminent stakeholders about the next big thing to happen in this segment.

Session Moderator

Shiv Kumar Bhasin, Chief Technology Officer, State Bank of India

Esteemed Panelists

K R C Murty, VP - Chief Technology Office, Deutsche Bank

Sameer Jaini, Chief Technology Officer, DCB Bank

N Rajendran, Chief Technology Officer, NPCI

Praveen Jayachandran, Reserch Scientist, IBM Research

Key Themes

◆ Bankers’ role in technology ecosystem
◆ Latest technology analysis
◆ Building a digital platform for banks
◆ Ways to keep advance cyber threats at bay
◆ Defending against the unknown
◆ Blockchain revolution
◆ Payment Innovations
◆ Social Banking
◆ Optimising banking technologies : New Vistas
◆ Emerging technologies & impact on banking - benefits and challenges

Website - http://goo.gl/aXJUQe
Queries - http://goo.gl/sgKlPi
Agenda - http://goo.gl/K4yBtU
Glimpses - http://goo.gl/te6JSh
Videos - http://goo.gl/z4T03h

Veröffentlicht in: Technologie
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Elets BFSI CTO Summit - Panel Discussion - Discussion on Block Chain Technology - Praveen Jayachandran, Reserch Scientist, IBM Research

  1. 1. © 2016 IBM Corporation Making Blockchain Real for Business Explained 1 V2.11 10 Feb 16 https://ibm.box.com/BlockExp
  2. 2. © 2016 IBM Corporation 2 Business Networks, Markets & Wealth • Business Networks benefit from connectivity – Connected customers, suppliers, banks, partners – Cross geography & regulatory boundary • Wealth is generated by the flow of goods & services across business network • Markets are central to this process: – Public (fruit market, car auction), or – Private (supply chain financing, bonds) What ?
  3. 3. © 2016 IBM Corporation 3 L e d g e r s a r e I • Ledger [1] is THE system of record for a business – records asset transfer between participants. • Business will have multiple ledgers for multiple business networks in which they participate. [1] The principal book (or computer file) for recording and totaling financial transactions by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account. What?
  4. 4. © 2016 IBM Corporation 4 I n t r o d u c i n g B A shared ledger technology allowing any participant in the business network to see THE system of record (ledger) What?
  5. 5. © 2016 IBM Corporation 5 Problem - Difficult to monitor asset ownership and transfers in a trusted  business network Counter-party records Bank records Party C’s Records Auditor records Party B Records Party A’s Records API-integrations Incident What? Inefficient, expensive, vulnerable Ledger Ledger Ledger Ledger Ledger Ledger
  6. 6. © 2016 IBM Corporation 6 Solution – shared, replicated, permissioned ledger Counter-party records Bank records Party C’s Records Auditor records Party B Records Party A’s Records What? Consensus, provenance, immutability, finality Ledger Ledger Ledger Ledger Ledger Ledger Participants have multiple shared ledgers NOTE : Participants same as before
  7. 7. © 2016 IBM Corporation 7 Blockchain underpins Bitcoin . . . 1. is unregulated, censorship-resistant shadow currency 2. Blockchain ensures “cash like” coin passing • unique, • immutable, • final 3. Bitcoin is the first Blockchain application • Blockchain is not 4. Digital currencies different from cyptocurrency What?
  8. 8. © 2016 IBM Corporation 8 Blockchain for Business Smart Contract Privacy Shared Ledger Consensus Ensuring appropriate visibility; transactions are secure, authenticated & verifiable Business terms embedded in transaction database & executed with transactions All parties agree to network verified transaction Append-only distributed system of record shared across business network Broader participation, lower cost, increased efficiency What?
  9. 9. © 2016 IBM Corporation 9 Shared Ledger • Records all transactions across business network • Shared between participants • Participants have own copy through replication • Permissioned, so participants see only appropriate transactions • THE shared system of record What?
  10. 10. © 2016 IBM Corporation 10 S m a r t C o n t r a c • Business rules implied by the contract . . • . . embedded in the Blockchain & • executed with the transaction • Verifiable, signed • Encoded in programming language • Example: – Defines contractual conditions under which corporate Bond transfer occurs What?
  11. 11. © 2016 IBM Corporation 11 P r i v a c y • Ledger is shared, but participants require privacy • Participants need: – Transactions to be private – Identity not linked to a transaction • Transactions need to be authenticated • Cryptography central to these processes What?
  12. 12. © 2016 IBM Corporation 12 C o n s e n s u s • … the process by which transaction are verified • When participants are anonymous – Commitment is expensive – Bitcoin cryptographic mining provides verification for anonymous participants but at significant compute cost (proof of work) • When participants are known & trusted – Commitment possible at low cost • Multiple alternatives – proof of stake where fraudulent transactions cost validators (e.g. transaction bond) – multi-signature (e.g. 3 out of 5 participants agree) • Industrial Blockchain needs “pluggable” consensus What?
  13. 13. © 2016 IBM Corporation 13 I n d u s t r i a l B l Reduce costs and complexity Improve discoverability Why? Trusted recordkeeping Shared trusted processes
  14. 14. © 2016 IBM Corporation 14 O t h e r P o t e n t i • Securities – Post-trade settlement – Derivative contracts – Securities issuance – Collateral management • Trade Finance – Bill of Lading – Cross-currency payment • Syndicated Loans • Intra-bank settlement • Retail Banking – Cross border remittances – Mortgage verification – Mortgage contracts (smart contract) • Public Records – Real estate records – Vehicle registrations – Business license and ownership records Why?
  15. 15. © 2016 IBM Corporation Hyperledger Project 15  Linux Foundation - announced 17th December 2015  New Hyperledger project to transform the way business transactions are conducted around the world  Project members understand that an open source, collaborative development strategy supporting multiple players in multiple industries is required Enable adoption of shared ledger technology at a pace and depth not achievable by any one company or industry How?
  16. 16. © 2016 IBM Corporation Hyperledger Project Members [1] 16 [1] At 17th December 2015 How?
  17. 17. © 2016 IBM Corporation 17 Summary 1. Blockchain is a shared, replicated, permissioned ledger technology 2. Blockchain can open up business networks by taking out cost, improving efficiencies and increase accessibility 3. Blockchain addresses an exciting and topical set of business challenges, which cross every industry 4. IBM supports the Linux Foundation Hyperledger open standard, open source, open governance Blockchain 5. IBM has an easy to access, proven and incremental engagement model giving customers the confidence to get started NOW
  18. 18. ©2016 IBM Corporation Thank You!

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