"Blockchain Webinar – A Revolution You Can’t Stop" by Intellectsoft

More Details:
Intellectsoft Software Development Company: intellectsoft.net
Blockchain Consulting & Development Lab: blockchain.intellectsoft.net

Intellectsoft software development company presents here its opinion on one of the hottest and still trending topics this year – blockchain revolution. By being a full-scale mobile-first enterprise, it attracted professionals in the field who accumulated expert knowledge on this ambiguous innovation. And managed to create an overview that is easy-to-understand for anybody interested in the topic – and highly practical at the same time.
In this presentation, Intellectsoft concentrates on answering the question why blockchain is an innovation we cannot already stop – and so, need to follow properly. In such a new reality, the company starts its overview by explaining the background of blockchain and its specific technological features – how it works, what are its building blocks, how to use it beneficially for the business. In particular, the company satisfies an interest of people all over the world to understand how this technology is able to transform not only the corporate design but also the whole world fundamentally. In addition, the benefits of Smart Contracts are well-explained – along with an explanation of that popular and strange word ‘mining’ means. Also, Intellectsoft provides the typology of blockchain with an emphasis on determining the specific advantages of each type of transactions. In this context, the representatives of certain industries can gain most advantages while incorporating blockchain in their business practice. What is also important, these blockchain developing and consulting experts clarify the necessary knowledge recommended to obtain before diving into this technology. And this enables trying the innovation – and being confident it’ll work good!

Transcript

1. BLOCKCHAIN – A REVOLUTION YOU CAN’T STOP DECEMBER 14th, 2017 WEBINAR
2. 9+ years of experience in tech Co-founder and CTO of multiple startups 12+ years of experience in tech and consultancy Microsoft, Western Union, Transpay TIM KOZAK Head of Blockсhain department at Intellectsoft SERGEI BULGAKOV Senior FinTech Consultant at Intellectsoft INTRODUCTION
3. MEET INTELLECTSOFT Enterprise software solutions FinTech projects www.intellectsoft.net 300+ DEVELOPMENT TEAM 200+ PROJECTS DELIVERED 10 YEARS Blockchain-based solutions Mobile product development EXPERTS IN: 7 OFFICES AROUND THE WORLD
4. What is blockchain and how it works Main benefits of blockchain Smart contracts Real-life use cases AGENDA Public vs Private blockchains Q&A Announcements
5. WILL BLOCKCHAIN CHANGE OUR LIVES? YES, RADICALLY! WHAT BLOCKCHAIN IS
6. CHALLENGE: WHAT BLOCKCHAIN IS: UNDERSTAND BLOCKCHAIN IN 10 MINUTES
7. A FORMAL DEFINITION: A blockchain is a decentralized and distributed database, a public digital ledger that is used to record transactions. WHAT BLOCKCHAIN IS
8. IT’S NOT JUST ONE THING ACCESS KEYS DATA FINGERPRINTING MULTIPLE COPIES THE WATCHDOG BLOCKCHAIN BUILDING BLOCKS
9. BLOCKCHAIN BUILDING BLOCKS It’s a mathematical technique used to validate the authenticity and integrity of a message, software or digital document. ACCESS KEYS Holds account address Gives access Signs transactions Impossible to guess No “Forgot my password” You can have a bunch of them
10. Creates the chain Gives immutability Integrity can be checked Used everywhere A cryptographic hash function is a kind of algorithm that can be run on a piece of data, like an individual file or a password, to produce a value called a fingerprint. DATA FINGERPRINTING BLOCKCHAIN BUILDING BLOCKS
11. DATA FINGERPRINTING intellect 718b3ba4d288a23b8fdb5aee2d64e580da4e04da506013409c363471285 718b3ba4d288a23b8fdb5aee2d64e580da4e04da506013409c363471285 add7619137296248fb3738da9819e61fff3fa21b011c72508e9a61f60c0b73c0 intellect Intellect EXAMPLE
12. Creates the chain Gives immutability Integrity can be checked Used everywhere A cryptographic hash function is a kind of algorithm that can be run on a piece of data, like an individual file or a password, to produce a value called a fingerprint. DATA FINGERPRINTING BLOCKCHAIN BUILDING BLOCKS
13. No single place to hack Multiple copies to compare Distributed across the world A blockchain database isn’t stored in any single location, meaning the records it keeps are easily verifiable. No centralized version of this information exists for a hacker to corrupt. MULTIPLE COPIES BLOCKCHAIN BUILDING BLOCKS
14. BLOCKCHAIN BUILDING BLOCKS New data approval Runs 24/7 on all copies Checks signatures and balances (Consensus) Algorithm that runs on a distributed network and decides which version of data is a valid one. THE WATCHDOG
15. COMPONENTS IN ACTION From To Amount Sign User with an Access Key It’s suggested as a new row to the last record Shared with everyone! Every dog checks funds and signatures PRIVATE KEY Majority approves Record gets closed and fingerprinted BLOCK 25 BLOCK 26 TRANSACTION addr1 addr2 10 { } 2 NETWORK 4 CONSENSUS 6 1 CONSENSUS 5 BLOCK 25 3 BLOCK 25 7 BLOCKCHAIN 8 It is there forever.
16. THE END RESULT: Highest level of security — no one except you can access your account Self sufficient and unstoppable Fast and works 24/7 No stealing. No editing. No guessing. No hacking If you gave something away there, it’s not yours anymore HOW IT WORKS
17. BLOCKCHAIN IS NOT ONLY ABOUT TRANSFERRING MONEY SMART CONTRACTS
18. IT’S ALSO ABOUT TRUST Sell a house Borrow a car for 2 hours Run an auction for your baseball cards Collectively buy gold Release securities Run crowdfunding with no fees Share medical data SMART CONTRACTS
19. AND ALL THIS: Can’t be broken Can’t be changed Can’t be stopped And no need to trust someone to watch the rules or keep the papers SMART CONTRACTS
20. Code that runs on a blockchain Can accept money, store assets, securities, company structures, payment rules, tokens, anything THAT’S EXACTLY WHAT SMART CONTRACTS ARE SMART CONTRACTS Every step is recorded Completely transparent and trustworthy Can automate complex processes Decentralized and autonomous
21. WHICH INDUSTRIES WILL BENEFIT FIRST? Cross-border payments settlement & reconciliation Bill payments Lending Equity trading Crowdfunding KYC/AML Birth certificates Tax filing Authentication Licensing Record management Voting Permits Cargo tracking Full transparency & real-time reporting Record management Prescription management Mortgages Smart utility grids Land registry Property records FINANCIAL SERVICES GOVERNMENT LOGISTICS / SUPPLY CHAIN HEALTHCARE REAL ESTATE BLOCKCHAIN AND FINTECH
22. POTENTIAL APPLICATIONS The blockchain is radically changing the future of transaction based industries
23. BLOCKCHAIN FOR FINANCIAL SERVICES BLOCKCHAIN AND FINTECH Real-time payments Lower fees Higher transparency Full accountability Seamless experience Straight-through processing (5 sec) Lower fees and FX rates Full transparency about the parties involved Full KYC & AML Transactions at your fingertips – As a result banks can save up to $20* Billion a year by leveraging blockchain technology. (Source: Santander Bank research data) CUSTOMERS DEMAND: BLOCKCHAIN CAN OFFER:
24. CURRENT PROCESSING VS. BLOCKCHAIN 5-7 days less FX/corresponding banks fees
25. CURRENT PROCESSING VS. BLOCKCHAIN Real-time transaction with immediate settlement and reconciliation - Ideal for high-volume, low-value 24/7 payments Open source distributed payment protocol with transactions in any currency Uses a consensus ledger to settle transactions Doesn’t require an intermediary Offers enhanced security & KYC Provides real-time FX rate Allows a drastic cost reduction and improves operational efficiency BLOCKCHAIN AND FINTECH
26. BLOCKCHAIN FOR GOVERNMENT BLOCKCHAIN AND GOVERNMENT Massive paperwork Data breaches Disparate legacy systems Fraud Long response times Automated document flow Data can’t be modified Coordination between agencies Resistant to hacking Direct access to data without intermediaries ONE common ledger instead of a hundred CURRENT CHALLENGES: RESULT:
27. e-ESTONIA The Estonian government built a blockchain ecosystem for various public services: e-Identity e-Court e-Police e-Healthcare e-Vote e-Register e-Tax e-School BLOCKCHAIN AND GOVERNMENT Source: www.e-estonia.com
28. BLOCKCHAIN FOR HEALTHCARE Growing number of patients Overloaded facilities Limited access to medication Fraudulent prescriptions Faster processing of new patients Faster data and inventory updates Easy access to suppliers/pharmacies Efficient tracking and consumption ONE common ledger instead of a hundred CURRENT CHALLENGES: RESULT: BLOCKCHAIN AND HEALTHCARE
29. e-ESTONIA HEALTHCARE In order to keep health information completely secure and at the same time accessible to authorised individuals, the electronic ID-card system used by the e-Health uses blockchain to ensure data integrity: A record of personal medical history is kept, tracked, and updated Full visibility of who checks a person’s health data, who modifies it and why As a result 97% of prescriptions are digital Medical errors are minimized Insurance claims settle much faster Permissions allow restricting access to sensitive personal information Immutable BLOCKCHAIN AND HEALTHCARE Source: www.e-estonia.com
30. PUBLIC VS PRIVATE BLOCKCHAIN HOW TO BUILD YOUR BLOCKCHAIN VS
31. PUBLIC BLOCKCHAIN DOWNSIDES All information is public Not so fast Rules are set by creators Permissionless (anyone can use it) Code is opensource HOW TO BUILD YOUR BLOCKCHAIN
32. PRIVATE BLOCKCHAIN BENEFITS All benefits of a public blockchain High performance Customizable rules Integrations with existing systems Permissions levels Control over level of transparency HOW TO BUILD YOUR BLOCKCHAIN
33. EXPERTISE REQUIRED HOW TO BUILD YOUR BLOCKCHAIN Business analysis Knowledge of different kinds of Blockchains (Multichain, Parity, Hyperledger, NXT, etc.) Networks and security Expertise in Smart Contracts Experience in building client and server applications
34. QUESTIONS? THANK YOU
35. THANK YOU ANNOUNCEMENTS Free eBook about blockchain in all details
36. THANK YOU! www.intellectsoft.net/solutions/blockchain PALO ALTO, CA 721 Colorado Avenue, Suite 101, Palo Alto, CA 94303 NEW YORK, NY 315 W 36th St. New York, NY 10018 +1 (855) TOP DEVS info@intellectsoft.net LONDON, UK 22 Great Marlborough Street London, W1F 7HU +44 20 3887 0078 +1 (650) 300 4335