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Private Blockchain (Private DLT)

Private Blockchain (Private DLT)

- Blockchain for business vs. bitcoin
- Private blockchains for enterprise
- Blockchain myths
- Blockchain Plans
- DLT (Blockchain) - what it really is?
- Blockchain Applicability Framework
- Blockchain Use Cases
- Private DLTs vs. APIs
- MultiChain overview


Robert Witkowski

November 08, 2018

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  1. Distributed Ledger Technology with MultiChain Robert Witkowski, Senior Software Engineer,

    ASC LAB Private Blockchain (Private DLT)
  2. 2 Blockchain for business vs. bitcoin Bitcoin is: • An

    unregulated shadow-currency • The first blockchain application • Resource intensive Blockchain for business is: • Identity over anonymity • Selective endorsement over proof of work • Assets over cryptocurrency
  3. 3 Private blockchains for enterprise • Private shared database •

    Control of capacity + cost • Designated „miners” • No cryptocurrency • Collective admin • Hide the details • Blockchain as tool not ideology
  4. 4 Blockchain myths • Blockchain is all about money •

    Blockchain and Bitcoin are the same thing • Blockchain are immutable • Only big companies can use blockchains • Can store Excel files on blockchains • All blockchains are public • Only criminals use blockchains • Blockchain is only a buzz https://thenextweb.com/syndication/2018/03/11/13-common-blockchain-myths-explained/
  5. 5 … chain is not really a chain, block is

    not a block
  6. 6

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  8. 8 Blockchain Plans The analyst firm makes three specific predictions:

    • Through 2022, only 10% of enterprises will achieve any radical transformation with the use of blockchain technologies. • By 2022, at least one innovative business built on blockchain technology will be worth $10 billion. • By 2026, the business value added by blockchain will grow to slightly over $360 billion, then surge to more than $3.1 trillion by 2030.
  9. Image: Gowling WLG & BizWord

  10. 10 DLT (Blockchain) - what it really is? Blockchain is

    a software for handling a distributed database (distributed ledger). Specific features: • distributed character - multiple copies of the database • no central server - peer-to-peer architecture, changes are communicated directly between copies of databases • each copy of the database contains a set of data connected in a chain • data is inseparably connected and protected by cryptography - impossibility of change (immutability)
  11. 11 DLT (Blockchain) - what it really is? • consensus

    process - network participants must agree to carry out each specific transaction • each user has access to the entire database and change history • the database can be public or private (permissionless/permissioned) • the possibility of programming the method of making changes to data in the database by smart contracts
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  15. 15 Data: IDC / Chart: ZDNet Business value

  16. 16 Private DLTs vs. APIs • APIs define what is

    to be sent from business entity A to B (message) • APIs don’t ensure temper evident (proof synced state) for critical business facts API endpoint A API endpoint B Message: please change your state Message: OK, I changed my state (DB) or did I?
  17. 17 Private DLTs vs. APIs • Private distributed ledger ensure

    the same state established by consensus algorithms • Full copy of the ledgers • Synced • Hard to temper with Ledger @ node A Ledger @ node B Consensus No more lies Ledger @ regulatory node
  18. 18

  19. 19 MultiChain – why? • If you’re more of an

    enterprise software developer (worked with Java/.NET, probably some scripting on the side) and you’re familiar with some basic sysadmin activities like creating a Virtual Machine, Virtual Network etc. => go with MultiChain. • If you’re more of a hipster hacker coding mostly in Python/Ruby/Go, then you’ll feel more at home with Ethereum.
  20. 20 MultiChain – good use cases • Permissioned blockchain –

    Validation by consensus, not proof of work • General storage and search – 64MB of data per transaction – Streams: key-value, identity, time series
  21. 21 MultiChain – licence If you or your customer require

    support, or you would like to redistribute MultiChain as part of a commercial or proprietary software solution, Coin Sciences Ltd offers a Commercial License with the following terms: • Base price per network: US $25,000/year for the first 4 nodes. • Price per additional node: US $2,500/year. • Discounts are possible for networks of more than 40 nodes.
  22. 22 https://github.com/asc-lab/blockchain- multichain