Published on December 19, 2016
1. Building Digital Transaction Systems in the new Banking World (BankOps) Ramit Surana @ramitsurana /in/ramitsurana
2. Agenda • What is Fintech ? • What is a blockchain ? • Current Infrastructure • What is Bitcoin ? • Seriously,Be Careful • About Ethereum • Mist Browser • Building Dapps • IPFS • IOTA
3. What is Fintech ? • Fintech is the short form for Financial Technology • The term explores and empowers the beauty of how the future of financial banks will be in the future with technology.
4. What is Blockchain ? • Blockchain is a shared, immutable ledger for recording the history of transactions. • Blockchain is offered using P2P communication and cryptocurrency methodology.
5. Current Infrastructure(General Idea) Middleware like RuPay,VISA,MasterCard
6. What is Bitcoin ? • Bitcoin is the first blockchain. • Introduced in a white paper by Satoshi Nakamoto. • Works on a series of new concepts that have been introduced in the whitepaper.
7. Seriously !! Be careful !
8. About Ethereum • Decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. • Comes along a wallet and mist browser for secure transactions.
9. How to do It ? • Installing the ethereum cli $ sudo apt-get install software-properties-common
10. How to do It ? • Adding the repository of ethereum $ sudo add-apt-repository -y ppa:ethereum/ethereum • Update your system $ sudo apt-get update
11. How to do It ? • Adding the repository of ethereum $ sudo apt-get install ethereum Try it out using: $sudo geth console
12. Geth • Geth is a go based implementation of a console by Ethereum • Geth has been audited for security and will be the future basis for the end user-facing Mist Browser. • For C++ implementation checkout eth.
13. Mist Browser • Tool to browse, test and develop Dapps. • Easy to use • Separate browser for all your transactions.
14. How to do It ? • Installing Mist Browser from Downloads page:
15. How to do It ? • Installing Mist Browser from Downloads page:
16. How to do It ? Wait for the Download to complete & setup your account to get started
17. Ethereum Wallet • Simple open source wallet to maintain your ether currency. • Easily store currency on your system. • You can also use several different 3rd party companies for managing the wallet.
18. How to do It ? • Installing Ethereum wallet from Downloads page: • Rest setup is similar to mist browser setup and ends us with formation as a account.
19. Building Dapps • Decentralized Application (or 'Dapp') is a piece of software consisting of a user interface (UI) and a decentralized backend; typically making use of a blockchain and smart contracts. • Can be built using various frameworkssuch as Truffle.
20. About IPFS • IPFS is peer-to-peer hypermedia protocol • Future replacement for https certificate methodology. • Each file and its block is given a unique fingerprint called cryptographic hash. • Uses Git like provisioning.
21. The IPFS Stack • IPFS is peer-to-peer hypermedia protocol • Future replacement for https certificate methodology. • Each file and its block is given a unique fingerprint called cryptographic hash. • Uses Git like provisioning.
22. How to do It ? • Download the tar package available at https://ipfs.io/docs/install/. • Run the installation script, found in the package • $ ipfs init Please Note it Down
23. How to do It ? • Try showing the output using: • $ipfs cat ($Hash)
24. IoTA • Applying IoT(Internet of Things) on blockchain. • Aims to provide a distributed ledger for implementing transaction through IoT. • Directed acyclic graph (DAG) as a distributed ledger which stores all transaction data of the IOTA network.
25. Banks using it • NASDAQ – Linq • CitiBank – CitiCoin – Internal Trading System • US Federal Reserve – IBM Implementation
26. IBM Blockchain • The aim of IBM is to have a blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network (e.g. Bitcoin), a blockchain for business provides a permissioned network, with known identities, without the need for cryptocurrencies. • Can be integrated with Bluemix and Watson.
27. Hyperledger Project • Open source collaborativeeffort created to advance cross- industry blockchain technologies. • Fabric is way to easily connect different nodes,blocks and identities in a secured manner so that transactions can happen in a secure manner.
28. Comparing Bitcoin, Ethereum & Hyperledger
29. Banks Embracing Blockchain & Clouds
30. Thank You
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