This webinar covers how Loyalty Reward Points can be stored on a Blockchain using smart contracts and its Business benefits.
Key Takeaways:
• How to read data from a json string posted by Progress Application via an API call.
• Use of Smart Contracts to write data on an Ethereum Private Network.
• Demonstration of blockchain network in loyalty program network.
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Webinar - Loyalty Reward Points Using Blockchain
1. JKT - a HIGH IQ company,
excelling in innovation & quality
Loyalty Reward Points Using Blockchain
2. SPEAKERS
AKASH GOVANI
Tech Project Manager – Digital
6 years in leading Digital Transformation initiative
IMT Ghaziabad (MBA), Nirma University (CS)
Kumar Gaurav
Blockchain Developer- Digital
B.Tech, IIT Patna
4. BLOCKCHAIN - TRANSPARENCY, EFFICIENT,
AUTHENTICITY, PRIVACY
Broader participation, lower cost, increased efficiency
Distributed
Systems
(Distributed
consensus, Fault
Tolerance,
Replication)
Cryptography
(Merkle
hashes,
Signing, Proof-
of-Work)
Networking
(P2P networks,
communication
protocols)
Databases
(Transaction
processing,
Consistency,
Linearization)
Smart ContractShared Ledger
CryptographyConsensus
Business terms
embedded in transaction
database & executed
with transactions
Ensuring secure,
authenticated &
verifiable transactions
Append-only system of
records shared across
business network
All parties agree to
network verified
transaction
5. Blockchain – Strategic Value
• World Economic Forum survey suggested that 10 percent of global
GDP will be stored on blockchain by 2027
• past two years alone have seen more than half a million new
publications on and 3.7 million Google search results for blockchain
• Venture-capital funding for blockchain start-ups consistently grew and
were up to $1 billion in 2017.
A McKinsey & co analysis suggests the following three key insights on
the strategic value of blockchain:
- encourages permissioned commercial applications.
- Shot Term Value – reducing cost
- Long Term Value – Business Model transformation
- Road Block – difficulty of resolving the “coopetition” paradox
6. Benefits of Blockchain
• Reduction in KYC costs
• Secure Identity
• Compile documentation on customers and stakeholders (KYC) is a
costly, time-consuming process
• Efficient and quicker settlements
• Financial processing can be greatly enhanced via smart contracts
• Lower risk of fraud and theft
• No data centralization as its particularly vulnerable. E.g. theft of
millions of customers' personal data as Yahoo (1 Billion, 2013), JP
Morgan (76 Million, 2014) LinkedIn (117 million, 2012)
• Data is encrypted and immutable
• Automation of tasks
• Automated process and render more security by eliminating the
need for certain human input
• Better pricing
• Behavioral factors compiled by connected devices and exchanged
on a blockchain, can influence risks and thus pricing can be almost
constantly adjusted and optimized
Cut costs
Strengthe
n security
Bring
efficiency
Simplify
compliance
New digital business
models
Goldman Sachs considers that blockchain technology in
banking could save the industry between US$ 3 billion
and US$ 5 billion in costs
7. Blockchain Platforms for Business
•Input–output
•Contract–
Transaction
Rule
•Endorsements
•Adapted runtime
•Purpose-built VM
Determinism
•Read-write sets
•Single spend
•Contract checks
Conflict
Prevention
8. Ethereum
• A distributed blockchain platform which supports app development as both a public blockchain as well as private
configuration.
• At the heart of Ethereum is the Ethereum Virtual Machine, running inside each node that has the capability to
execute smart contracts and store the outcome (transactions) in a blockchain.
Key Elements
• Ether
• The underlying cryptocurrency which is the basic tradeable entity in the network as well as facilitates
execution of smart contracts
• Ethereum Virtual Machine
• The virtual machine on the network running on each node which executes the smart contracts.
• Smart Contracts
• Basically a function performing a user defined function which can be executed on the ethereum network.
Smart contracts are deployed on the ethereum network and are executed by every full node in the network.
10. 10
Blockchain – Loyalty Reward Points
Problem Statement
How to effectively manage a reward points
Proposed Solution
A permissioned blockchain network with stakeholders as participating nodes.
Work
A private Ethereum network was setup. A smart contract was
developed to read data from a JSON string posted by the Progress
application via an API call. The data received from is stored on
Ethereum chain.
Business Benefits
• Single source of Truth
• Transparency
Ethereum Private Network on AWS EC2
11. Track n Trace: Technology Stack
BLOCKCHAIN
Oracle
SERVER
12. An AWS instance with Ubuntu preconfigured
Installing pre-requites like NodeJS, npm, Truffle, etc
Installing Go-Ethereum using PPA
Using Geth to setup the nodes as required by the use case
Loyalty Rewards: Deployment steps
13. Loyalty Rewards: Deployment steps – 2/2
Creating the genesis block using geth,puppeth or writing a custom
json file.
Starting the mining process using Geth(blocks will be generated
at a specified rate)
Setting up the node server with embedded web3js to
communicate with the deployed smart contract
Starting the node server to listen to api calls
19. THANK YOU
I N D I A
JK Technosoft Ltd.
A-2, Shopping Complex,
Masjid Moth, G.K. II,
New Delhi – 110048
Tel: +91 11 29222864-65
Fax: +91 11 29228048
NOIDA
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Noida – 201301, INDIA
Tel: +91 120 4606200, 4606300, 4084500,
2539133
Fax: +91 120 2539132
U N I T E D K I N G D O M
JK Technosoft (UK) Ltd.
Atrium Court, 100 The Ring,
Bracknell, Berkshire, RG12 1BW,
United Kingdom
Tel : +44 (0) 1344 393032
U N I T E D S T A T E S
Proserve Consulting Inc.
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New York, NY 10020 USA
Tel: +1 212 265 1626
Fax: +1 212 586 4067
BANGALORE
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Ambalipura Road,
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Bangalore – 560 103
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KOLKATA
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B A N G L A D E S H
JK Technosoft Ltd.
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Banani Model Town
Dhaka-1213
Email: marketing@jktech.com
Notas do Editor
IDS- Indian Armed Force : Automation of all drug distribution depots and connected to all the hospital across the country.
Indian Coast Guard: Design, Development, Implementation, and Support for Automation of Service Healthcare Administration
Air force: Automation of 200 medical units and 11 hospitals across the country.
Kerala: Automation of 1300 medical units which includes Hospitals, medical collages, CHC, PHC, health workers spread across the state.
Dadra Nagar : Automation of 60 medical units which includes Hospitals, CHC, PHC, health workers spread across the UT.
HAL: Supply, Installation and commissioning of HMIS
HIL: Procurement of Services for Post Implementation Support for SAP Systems at HIL for 3 year.
RCF : SAP Oracle Database Upgrade 12C For all SAP Systems at RCF
NTPC: SAP Support Service
BEML: Implementation/upgradation/migration of the following:
1. Up-gradation of SRM Version
2. Implementation of Solution Manager
3. Migration of Tax Structure in SAP ECC 6.0 EhP 7.0 System
4. Implementation of Indian Accounting Standard (IND AS) in the SAP ECC 6.0 EhP 7.0 system
BHEL: SAP Support shall be for both technical and functional modules. SAP functional module includes SD, PP, PS, FI, CO, MM, QM, PM etc. in SAP R3.
EPI: Procurement of Services for Support of SAP Systems at EPI which are being used at our corporate office, New Delhi and other Regional Offices at Kolkata, Chennai, Mumbai, Guwahati, Hyderabad, Oman and Srilanka including the change Management Services
Karnataka Seed: Develop implement the following processes Marketing Management, Production & Processing, Quality Control, Inventory Management, Financial and Management Accounting, Admin & HR Management, Projects Division, Secretarial & Legal Section and MIS
Andhra: DESIGN, DEVELOP, INTEGRATE, MAINTAIN AND ENHANCE APPLICATION & SERVICES FOR Department of Education (Package 2)
DESIGN, DEVELOP, INTEGRATE, MAINTAIN AND ENHANCE APPLICATION & SERVICES FOR Real Estate Regulatory Authority (APRERA)
DESIGN, DEVELOP, INTEGRATE, MAINTAIN AND ENHANCE APPLICATION & SERVICES FOR SPORTS AUTHORITY OF ANDHRA PRADESH (SAAP)
At its core, Blockchain is a data structure made of blocks, where each block is connected to the previous block via a cryptographic hash. Data is appended to blocks as transactions. Once added to a block and validated by the network, data is immutable. Also, Blockchain via various consensus mechanism has the trust built into the system without the need to rely on third-party intermediaries.
http://www.bain.com/publications/articles/putting-social-media-to-work.aspx
Customers who engage with companies over social media are more loyal and they spend up to 40% more with those companies than other customers.