Informaciona tehnologija-lekcija 14 - Blockchain

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Information about Informaciona tehnologija-lekcija 14 - Blockchain
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Published on November 18, 2018

Author: pkocovic

Source: authorstream.com

slide 1: BlockChain Petar Kocovic FON April 21 2018 petar.kocovicgmail.com slide 2: World of Money slide 3: Bitcoin Bitcoin is cryptocurrency. Value of Bitcoins is roughly 11.731B Feb 20 2017 Algorithm can generate max 2.1M bitcoins On November 4 2016 was generated 15+M bitcoins April 14 2018 Value - 7978 per BTC Money supply: 16977413 Total value: 135B slide 4: 0.135 Bitcoin slide 5: Silver The value of all above-ground silver stocks estimated by some 1 billion oz is 14B using 14/oz spot price. slide 6: 0.014 0.135 Bitcoin Silver slide 7: World Richest slide 8: Walton family 1 130 Bil Fortune founded: 1962 Company: Wall-Mart HQ: Bentonville AR No of members: 7 slide 9: Jeff Bezos 2 118.8 Bil Fortune founded: 1975 Company: Amazon HQ: Seattle WA No of members: 5 slide 10: 0.118 0.13 0.014 0.15 Bitcoin Silver Walton Family Jeff Bezos slide 11: World’s Biggest Companies April 14 2018 718.3B 789B slide 12: 0.718 0.798 0.13 0.119 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google slide 13: FED Federal Reserves Between 2008 and 2014 FED’s balance sheet jumped to 4.5T from 1T due to controversial quantitativeve easing QE programs slide 14: 4.5 0.718 0.798 0.13 0.118 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED slide 15: Coins and Banknotes The total value of all of the world’s coins and banknotes is roughly 5T slide 16: 5 4.5 0.718 0.798 0.13 0.119 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes slide 17: Real Estate Institutional investors with 1/3 of them public Real Estate companies own about 7.6T of commercial real estate worldwide. This is still fraction of the total of all real estate. slide 18: Commercial Real Estate slide 19: 7.6 5 4.5 0.718 0.798 0.13 0.119 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate slide 20: Gold The world’s total above-ground gold reserves are estimated at 183600t by the World Gold Council. Using price of 1200 world’s gold is worth 7.8T. 17 held by IMF and Central Banks slide 21: 7.8 7.6 5 4.5 0.718 0.798 0.13 0.082 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold slide 22: Narrow Money According to the CIA Facebook the total value of the world’s easily accessible money is 28.6T. This includes the world’s coins banknotes and checking deposits. slide 23: 28.6 7.8 7.6 5 4.5 0.718 0.798 0.13 0.119 0.014 0.155 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money slide 24: All Stock Markets The market capitalization of all the world’s stock markets is equal to 70T slide 25: All Stock Market slide 26: 70 28.6 7.8 7.6 5 4.5 0.58 0.71 0.13 0.082 0.014 0.01 Bitcoin Silver Bil Gates Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money All Stock MArkets slide 27: Broad Money According to the CIA Facebook the total value of the world’s money is 80.9T. This includes the coins banknotes money market accounts as well as saving checking and time deposits. slide 28: 80.9 70 28.6 7.8 7.6 5 4.5 0 0.798 0.13 0.119 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money All Stock MArkets Broad Money slide 29: Global Debt - 2017 The total amount go global debt is 233T. slide 30: Global Debt slide 31: 233 80.9 70 28.6 7.8 7.6 5 4.5 0.718 0.798 0.13 0.189 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money All Stock MArkets Broad Money All Global Debt slide 32: Total Net-Worth World Aprox 3 World GDP 271T slide 33: 271 233 80.9 70 28.6 7.8 7.6 5 4.5 0.713 0.793 0.13 0.082 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money All Stock MArkets Broad Money All Global Debt Total Net-worth World slide 34: 1200 271 233 80.9 70 28.6 7.8 7.6 5 4.5 0.713 0.793 0.13 0.082 0.014 0.15 Bitcoin Silver Jeff Bezos Walton Family Apple Google FED Coins and Banknotes Commercial Real Estate Gold Narrow Money All Stock MArkets Broad Money All Global Debt Total Net-worth World Derivatives slide 35: 1200 80.9 28.6 Narrow Money Broad Money Derivatives slide 36: Derivatives The low-end estimate of size and scope of global derivative market is 630T-1.2Q on a notional contract basis. What is derivative A derivative is a contract between two or more parties that derives of an underlying asset index or entity. Examples: Future contracts Forward contracts Options Warrants Swaps slide 37: –Merriam-Webster dictionary “A substance that can be made from another substance.” In chemistry slide 38: Derivatives in finance works on the same principle. slide 39: –Warren Buffett “Derivatives are financial weapons of mass destruction carrying dangers that while now latent are potentially lethal.” slide 40: Digital Leadership: Blockchain slide 41: Nexus of Forces slide 42: 2013 IMAGINE Nexus of Forces slide 43: 2013 IMAGINE People Business Things Physical Digital Nexus of Forces Digital Business slide 44: 2013 IMAGINE Th P 2014 BUILD Nexus of Forces Digital Business slide 45: Bimodal MODE 2 MODE 1 Bimodal is the practice of managing two separate but coherent styles of work: one focused on predictability the other on exploration. Bimodal Business slide 46: 2013 IMAGINE T 2014 BUILD Bimodal MODE 2 MODE 1 2015 DRIVE Nexus of Forces Digital Business Bimodal Business slide 47: Algorithmic Business slide 48: 2013 IMAGINE T 2014 BUILD Bimodal MODE 2 MODE 1 2015 DRIVE 2016 LEAD Nexus of Forces Digital Business Bimodal Business Algorithmic Business slide 49: Artificial Intelligence slide 50: 2013 IMAGINE T 2014 BUILD Bimodal MODE 2 MODE 1 2015 DRIVE 2016 LEAD 2017 SCALE Nexus of Forces Digital Business Bimodal Business Algorithmic Business Artificial Intelligence slide 51: Digital Scale slide 52: 2013 IMAGINE T 2014 BUILD Bimodal MODE 2 MODE 1 2015 DRIVE 2016 LEAD 2017 SCALE Nexus of Forces Digital Business Bimodal Business Algorithmic Business Artificial Intelligence Digital Scale slide 53: X 1 of Top 10 Algorithms for Digital Leadership slide 54: Example: Money Transfer slide 55: A B 3rd Trusted Party 5 4.9 3 days Classic Banking System slide 56: Blockchain: Concept of the Open Ledger Principle 1 A D A10 5 3 B C A-B 5 B-D 3 1 D-C 1 Chain Open and public to everyone 15 Distributed slide 57: Blockchain: Distributed Principle 2 Concept of the Open Ledger A D 5 3 B C 1 15 Question: Are all of copies synchronized YES 3rd Principle of Block Chain slide 58: Blockchain: Ledger Open and Distributed Principle 3: Synchronization A D 10 5 B C A—B 10 B—D 5 A—B 10 B—D 5 5 B-C 5 Unvalidated Transaction Transaction is not into the ledger slide 59: Blockchain: Ledger Open Distributed and Synchronized Principle 4: Miners A D 10 5 B C A—B 10 B—D 5 A—B 10 B—D 5 5 B-C 5 Miner 1 Miner 2 Role of Miners: Competition who will FIRST take UNVALIDATE transaction VALIDATE and PUT INTO the LEDGER First Miner will get financial reward BTC Actions: - Validating easy - Finding special random KEY investing computation power slide 60: Blockchain: Ledger Open Distributed and Synchronized Principle 5: Broadcasting A D 10 5 B C A—B 10 B—D 5 A—B 10 B—C 5 5 B-C 5 Miner 1 Miner 2 Actions: - Validating easy - Finding special random KEY investing computation power B—D 5 B—C 5 slide 61: https://anders.com/blockchain/block.html slide 62: Cryptography for Blockchain Basics slide 63: 2 SHA-256 Hash Algorithm slide 64: 1 Elliptic Curve Digital Signature Algorithm ECDSA slide 65: Bitcoin protocol specification for wallet generation slide 66: Fundamental building block of modern cryptography is: ONE-WAY FUNCTION a easy to compute b inverse is hard to compute given fxy is easy to compute hard to calculate x given y slide 67: Two main ways: 1 Factorization 2 Elliptic Curve Logarithms y 2 x 3 + ax +b Condition: 4a 3 +27b 2 0 slide 68: https://www.desmos.com/calculator/ialhd71we3 Try: 1 a0 b0 2 a-3 b2 slide 69: secp256k1 • First used for Bitcoin algorithms • Random structure nice properties • 30 faster than other curves • Elliptic curve - Koblitz curve • y 2 x 3 +7 Specification TpabGnh slide 70: secp256k1 •p FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFE FFFFFC2F • 2 256 - 2 32 - 2 9 - 2 8 - 2 7 - 2 6 - 2 4 - 1 The curve E: y 2 x 3 +ax+b over F p is defined by: •a 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000 •b 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000007 The base point G in compressed form is: •G 02 79BE667E F9DCBBAC 55A06295 CE870B07 029BFCDB 2DCE28D9 59F2815B 16F81798 and in uncompressed form is: •G 04 79BE667E F9DCBBAC 55A06295 CE870B07 029BFCDB 2DCE28D9 59F2815B 16F81798 483ADA77 26A3C465 5DA4FBFC 0E1108A8 FD17B448 A6855419 9C47D08F FB10D4B8 Finally the order n of G and the cofactor are: •n FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFE BAAEDCE6 AF48A03B BFD25E8C D0364141 •h 01 y 2 x 3 + 7 Specification TpabGnh slide 71: How to Create Bitcoin Address slide 72: 0 Having a private ECDSA key 18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725 1 Take the corresponding public key generated with it 65 bytes 1 byte 0x04 32 bytes corresponding to X coordinate 32 bytes corresponding to Y coordinate 0450863AD64A87AE8A2FE83C1AF1A8403CB53F53E486D8511DAD8A04887E5B23522CD470243453A299FA9E772377161 03ABC11A1DF38855ED6F2EE187E9C582BA6 2 Perform SHA-256 hashing on the public key 600FFE422B4E00731A59557A5CCA46CC183944191006324A447BDB2D98D4B408 3 Perform RIPEMD-160 hashing on the result of SHA-256 010966776006953D5567439E5E39F86A0D273BEE 4 Add version byte in front of RIPEMD-160 hash 0x00 for Main Network 00010966776006953D5567439E5E39F86A0D273BEE note that below steps are the Base58Check encoding which has multiple library options available implementing it 5 Perform SHA-256 hash on the extended RIPEMD-160 result 445C7A8007A93D8733188288BB320A8FE2DEBD2AE1B47F0F50BC10BAE845C094 6 Perform SHA-256 hash on the result of the previous SHA-256 hash D61967F63C7DD183914A4AE452C9F6AD5D462CE3D277798075B107615C1A8A30 7 Take the first 4 bytes of the second SHA-256 hash. This is the address checksum D61967F6 8 Add the 4 checksum bytes from stage 7 at the end of extended RIPEMD-160 hash from stage 4. This is the 25-byte binary Bitcoin Address. 00010966776006953D5567439E5E39F86A0D273BEED61967F6 9 Convert the result from a byte string into a base58 string using Base58Check encoding. This is the most commonly used Bitcoin Address format 16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM slide 73: 3 Cryptography for Mining slide 74: Code must be difficult to find… slide 75: … Easy to Verify slide 76: Example Hash of some integer x multiplied by another y must end 0. hash xyac23dc….0 slide 77: Example cont Let’s fix x5. Solution is y21. hash5211253e9373e…5e3600155e860 slide 78: Consensus If there is more than one node in the network Two steps: 1. Verification of hash and proof 2. Resolving conflicts If a valid chain is found whose length is larger shorter will be replaced slide 79: What to Expect in 2018 slide 80: No. 1 Most Searched Term on the Web Browsers slide 81: Business Impact is not Uniform Technologies Work in Progress but Rampant RD “Blockchain-based Transformation” Potential Radical Change to Business and Technology Paradigms slide 82: Potential Radical Change to Business and Technology Paradigms slide 83: Intelligent Digital Mesh AI Foundation Intelligent Apps and Analytics Intelligent Things Digital Twins Cloud to the Edge Conversational Platforms Immersive Experience Blockchain Event-Driven Model Continuous Adaptive Risk and Trust slide 84: Four Types of Blockchain Initiatives and How They Differ Blockchain Disruptor Digital Asset Market Efficiency Play Record Keeper Revenue Growth New Business Models Cost Savings Current Business Models slide 85: Business Value-Add of Blockchain: 3.1 Trillion by 2030 slide 86: Business Impact is not Uniform and There are Interdependencies slide 87: Innovation 
 Trigger Peak of Inflated 
 Expectations Slope of 
 Enlightenment Plateau of 
 Productivity Trough of 
 Disillusionment Positive Hype Negative Hype Hype Cycle slide 88: Innovation 
 Trigger Peak of Inflated 
 Expectations Slope of 
 Enlightenment Plateau of 
 Productivity Trough of 
 Disillusionment Positive Hype Negative Hype Hype Cycle Less than 2 years 2-5 years 5-10 years more than10 years obsolete before plateau Blockchain for customer service Blockchain for oilgas Blockchain in retail Blockchain-based ACH payments Blockchain for CSPs Blockchain in Manufacturing Blockchain in Supply Chain Blockchain in Healthcare Blockchain in Utilities Blockchain in Insurance Blockchain in Life Science Blockchain in Education Blockchain in Government Blockchain in Banking and Investment Services slide 90: A SWOT Analysis of Blockchain for Retail Strengths Weakness • Distributed resilience and control • Decentralized network • Open source • Security and modern cryptography • Asset provenance • Native asset creation • Dynamic and fluid value exchange • • Lack of ledger interoperability • Customer unfamiliarity and poor user experience • Lack of intraledger and interledger governance • Lack of hardened/tested technology • Limitation of smart contract code programming model • Wallet and key management • Poor tooling and poor developer user experience • Skills scarcity and cost • Immature scalability • Lack of trust in new technology suppliers Opportunities Threats Reduced transaction costs Business process acceleration and efficiency Reduced fraud Reduced systemic risk Monetary democratization New business-model enablement Application rationalization and redundancy Legal jurisdictional barriers Politics and hostile nation-state actors Technology failures Institutional adoption barriers Divergent blockchains Ledger conflicts/competition Poor governance Decentralized business models slide 91: A 4 Step Process for Evaluating Blockchain for Supply Chain slide 92: A 4 Step Process for Evaluating Blockchain for Supply Chain slide 93: A 4 Step Process for Evaluating Blockchain for Supply Chain slide 94: A 4 Step Process for Evaluating Blockchain for Supply Chain slide 95: Technologies Work in Progres but Rampant RD slide 96: What Architecture do You Need slide 97: Electricity took Two Decades to be Adopted slide 98: BlockChain Petar Kocovic FON April 21 2018 petar.kocovicgmail.com

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