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Power of Blockchain

Presented for the Lansing Capital Area Information Technology Council by David Smith and Phani Mantravadi on September 25 2018.

1) Today's Money is Broken
2) Cryptocurrencies are the Solution
3) Billions of people will use Blockchain everyday like billions use the Internet
4) Blockchain will be as empowering as the Internet
5) Blockchain is growing amazingly fast. Companies and individuals who want to change the course of their lives have the opportunity to try and do that through blockchain's growth.
6) Other technologies that have changed lives and companies are The Advent of the PC (Bill Gates) the Internet (Jeff Bezos), and Social Media (Mark Zuckerberg)
7) Blockchain has changed David Smith's life - he is living beyond his wildest dreams
8) Cryptocurrency Tokens - hype, volatility, price vs. inherent value
9) We need Trust in Society
10) Origin of book keeping
11) Why we need banking today
12) Blockchain reduces the cost of trust
13) What is a Blockchain
14) How Blockchains work
15) How Centralized Ledgers work today
16) How Blockchains (decentralized ledgers) massively improve efficiencies
17) The Path Forward
18) Upcoming Blockchain Projects

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Power of Blockchain

  1. 1. The Power of Blockchain
  2. 2. Money is Broken
  3. 3. $34.3B Overdraft Fees
  4. 4. Inflation Destroys Civilization
  5. 5. Not for Much Longer
  6. 6. Digitally Transfer Information Value
  7. 7. As Empowering as the Internet
  8. 8. Billions Will Use Blockchain Daily
  9. 9. So What?
  10. 10. Do you want to
 Change your Life?
  11. 11. Thursday January 29
  12. 12. 3 Million Users
  13. 13. 4 Days 1Million Sign Ups
  14. 14. Changed Lives
  15. 15. My Story
  16. 16. Are you Ready?
  17. 17. Blockchain Technology CURRENT STATE AND JOURNEY FORWARD
  18. 18. Cryptocurrency tokens u  Recent hype u  Volatility u  Price versus inherent value
  19. 19. One Priceless Asset Trust
  20. 20. Origin of book-keeping u  Pre-renaissance period u  Need for accurate book-keeping for merchants u  Double-entry bookkeeping u  Facilitates measurement and reporting of flow of monetary units u  Principles and standards u  Debit vs Credit u  Asset vs Liability u  Clean book-keeping as a moral obligation
  21. 21. Banking u  Indispensable Intermediaries u  Gatekeepers u  Fees u  Access restrictions u  Curtail innovation u  Market dominance
  22. 22. Blockchain u  Reduce cost of trust u  Decentralized approach to infrastructure u  Revolutionary way to structure economic organizations
  23. 23. Blockchain u  Structure u  A ledger of transactions u  Transaction can represent anything of value u  Examples u  Actual exchanges of money, even Fiat u  Digital stock certificates u  Votes u  Tokenized assets u  Instructions Signature -------------- ledger entries Signature -------------- ledger entries Signature -------------- ledger entries … Signature -------------- ledger entries Sign… Miners race to come up with the ‘solution’, also called block-mining 0x000000000000……zywvjx71f6a97j…7iggetc
  24. 24. How it works u  Entries to ledger controller by consensus protocol u  Entries bundled and chained together as ‘blocks’ u  Immutable and readily accessible shared truth u  Secured by impregnable cryptography
  25. 25. Centralized Ledgers u  Lehman brothers u  Enron u  VISA u  Stark reminder of high price paid for trusting centralized entities
  26. 26. Accounting and Reporting A necessary burden u  Businesses reconcile each others’ records u  Trust u  Time-consuming u  Expensive u  Necessary
  27. 27. High Cost of Trust u  Stifles innovation u  IoT u  Billions of autonomous devices forging new efficiencies u  Microtransactions u  Expensive intermediation of centrally controller ledgers
  28. 28. Path forward u  Rampant speculation inevitable u  No framework to estimate value created or destroyed u  Trough of disillusionment
  29. 29. What to watch for u  Grid+ u  Virginia Voting blockchain