BINO - Blockchain In Name Only - how to think about block chain in STM publishing

BINO - Blockchain In Name Only - how to think about block chain in STM publishing

This is an opinionated short presentation arguing that blockchain has no significant value for STM publishing.

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Ian Mulvany

April 02, 2019
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Transcript

  1. Blockchain In Name Only How to think about blockchain in

    STM publishing @IanMulvany - Head of Transformation - SAGE Publishing
  2. While discussing interoperable metadata and interchangeable standards in STM is

    GOOD, blockchain is inappropriate for our industry because it is too complex, requires lack of trust to be valuable and does not offer as much potential ROI as other initiatives.
  3. Blockchain - 1 minute primer

  4. Blockchain Previous Hash Metadata Data Previous Hash Metadata Data Previous

    Hash Metadata Data
  5. Blockchain Previous Hash Metadata Data Previous Hash Metadata Data Previous

    Hash Metadata Data Previous Hash Metadata Data
  6. Blockchain Previous Hash Metadata Data Previous Hash Metadata Data Previous

    Hash Metadata Data Previous Hash Metadata Data
  7. Blockchain

  8. Blockchain - tamper proof

  9. None
  10. None
  11. None
  12. 51% rule

  13. 51% rule

  14. To prevent a coordinated attack transactions are designed to be

    slow - “proof of work”
  15. We need: Previous Hash Metadata Distributed writers Lots of copies

    1 2 A network with no trusted intermediary, and shared copies of the database 4 3 Proof of work scheme to prevent 51% hack Incentive to participate ⏳ • Also lots of potential value if there are interactions between transactions
  16. In STM we don’t have these things: 1 2 4

    3 Distributed writers Lots of copies A network with no trusted intermediary, and shared copies of the database Proof of work scheme to prevent 51% hack Incentive to participate Hard to get to scale across all publishers We have a high trust environment, lots of trusted intermediaries Anonymity is eventually pointless in STM -> low incentives for attack Existing incentive schemes too entrenched to be supplanted
  17. Finally - idea is simple, but implementation is hard -

    case study - Bitcoin 95% of transactions on the bitcoin network may be artificial Not secure Not egalitarian Not efficiently distributed Over 80% of mining is preformed by six mining pools $2.7M stolen from exchanges per day in 2018
  18. Risks It will get attacked and hacked Vendor lock in

    Lack of technical capacity or attention within our organisations Who owns the transaction? Who owns a peer review? Reward systems in academic publishing are hard to shift
  19. Opportunities Let’s us all talk about metadata Submissions as transactional

    events A global append only store Multiple copies, by design Transactional history of articles is interesting
  20. Alternatives AWS S3 DAT Kafka Solid Web Apps

  21. Alternatives for your attention Metadata Standards Distributed Systems Open Publishing

    Systems
  22. None