Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.
Protocol Components
Commercial platforms &
services targeting Financial
Retail & Commercial Banks Central Ban...
Prochain SlideShare
Chargement dans…5

2016 Blockchain Ecosystem Market Map

FirstPartner's 2016 Blockchain Ecosystem Market Map gives a clear visual overview of the emerging blockchain landscape, highlighting key companies, projects, technologies and trends.

The Map summarises three main areas of focus emerging around the core blockchain or distributed ledger protocols:
Bitcoin and Cryptocurrencies: Providing an alternative to centrally managed "fiat" currencies, this sector includes Bitcoin exchanges, Bitcoin wallets, miners and cryptocurrency payment processors. The map illustrates how these companies interact and features some leading players including Coinbase, Circle, Kraken and 21 Inc.

The Financial Services Blockchain: This has been the main area of focus over the last 12 months as attention shifts from Bitcoin to Financial Services applications. An increasing number of players are focussing on commercialising blockchain technologies for banks, securities, derivatives and asset markets and institutional investors - and are attracting VC funding to do so. Ripple and Ethereum are leading candidate protocols for payment processing and smart contracts and players including Ripple, Chain and Digital Asset Holdings are gaining traction with Financial Institutions. The Map highlights leading technology companies and some of the banks, card schemes and processors who are investing in or evaluating distributed ledger technologies.

Other Use Cases: The distributed ledger concept and its ability to support transparent and tamperproof asset registration, proof of ownership and asset transfer transactions makes it potentially applicable to multiple non-financial use cases. The Map highlights a number of candidate use cases including publishing, legal, distributed data storage, document management and IoT. Some of the pioneering initiatives and companies exploring these applications are included.
Crucially the Map also provides a clear pictorial explanation and summary of the leading protocols at the heart of the ecosystem and concepts including coloured coins and smart contracts that supplement them to make a number of the proposed services possible.

You can download a copy of the map at www.firstpartner.net.

  • Soyez le premier à commenter

2016 Blockchain Ecosystem Market Map

  1. 1. Protocol Components Commercial platforms & services targeting Financial Institutions Retail & Commercial Banks Central Banks & Initiatives Liquidity Provision Complaince Policy - Bank of England - Banque de France - Deutsche Bundesbank - European Central Bank The following major central banks have undertaken assesments or issued statements on regulation, potential risks to financial systems and/or benefits but none yet has a definitive policy stance. National Clearing Market Insight Proposition Development Product Launch Customer Engagement 2016 The Blockchain Ecosystem www.firstpartner.net Richard Warren rwarren@firstpartner.net +44 (0) 870 874 8700 @firstpartner hello@firstpartner.net Like what you see? Contacts Author www.firstpartner.net Copyright FirstPartner Ltd 2015 Contact us for in-depth insight into your target markets! FirstPartner Introduction The blockchain combines cryptography & distributed computing to deliver secure, direct peer to peer transactions without the need for a central party. At its heart is the Distributed Ledger. This is a tamper proof, public, network-hosted, record of all consensus verifiedtransactions. Initially realised via Bitcoin & similar “cryptocurren- cies”, focus & investment is now shifting to the potential of blockchain technology to revolution- ise the infrastructure & processes of established Financial Institutions & other enterprises. This Map summarises the key principles behind the blockchain & the emerging ecosystem addressing payments, banking & other potential use cases. Blockchain numbers Sources: 1 CoinDesk & Crunchbase 2 Venturescanner.com reviewed Nov 2015 3 FirstPartner research 4 CoinDesk State of Bitcoin Report Q3 2015 5 Blockchain.info checked 16th Nov 2015 6 Bitcoinity.org 7 Coin ATM Radar checked Oct 2015 The Distributed Ledger Payment Use Cases Retailing Financial InclusionRemittancesPerson 2 Person Interbank Clearing Trading & MarketsForex The Cryptocurrency Ecosystem Specialist companies facilitating transaction validation, currency exchange, storage & payment on existing cryptocurrency newtworks (primarily Bitcoin) Established Financial Ecosystem Regulated financial instutions & platform vendors exploring blockchain technology as an alternative to centralised & correspondent payment processing Other Use Cases Data Distributed storage of and access to business data Legal Executing smart legal contracts e-Identity Registering and validating individual identity IoT Registering and validating connected devices Crowd Funding Raising finance & distribut- ing equity Proof of Ownership Tamper proof registration & “stamping” of physical & digital assets Market Places Trading & sharing of physical & digital assets & services Publishing Digital asset rights manage- ment, distribution & payment Blockchain Distributed P2P Networks Dogecoin Consensus: Proof of Work Currency: Doge - on & off-network Issuance: Mining Reward. Unlimited Latency: 1 minute Litecoin Consensus: Proof of Work Currency: LTC - on and off-network Issuance: Mining Reward. 84M Limit Latency: 2.5 minutes Anatomy of a Transaction Bitcoin Debit CardsWallets Exchanges Mining Mining Technology & Commercial Operations 21 INC Mining Pools - Ghash.io - F2Pool - AntPool - Slush'spool International Remittance BitCoin ATM Money Transfer Operators Stellar Validation: Distributed consensus Currency: Lumens on-network only Issuance: 100 BN then 1% issued PA Latency: 2-5 seconds Ripple derivative. Financial focus Crypto 2.0 - Building on the Bockchain Smart Contracts Encode & validate “conditions” for a transaction between parties. Potentially faciliate legally binding transactions over the blockchain Securities Markets Open Protocols for Institutions Bitcoin Based Cryptocurrencies Securities & Derivatives & Asset Trading Platforms Smart contracts & blockchain for transparent trading & post trade settlement Financial Infrastructure & APIs Enable implementation of private Blockchains/ sidechains &/or the development & securing of financial applications Institutional Investment Interbank Networks Colored Coins & Open Assets Bitcoins altered to represent an asset. Exchanged via the Open Assets Protocol. Allows trading of physical & other assets $ $ £ ¥€ Merchants Users sender 2 Verification Consensus Prevents “double spend” or validation of fraudulent transactions: Proof of work: miners compete to validate blocks by solving highly processor/RAM intensive cryptographic problems for reward Distributed consensus: majority validation by trusted subnetworks of peer nodes within the network. Used by Ripple & Stellar Proof of stake: achieves distributed consensus by network users proving their ownership of currency. Used by Peercoin & Bitshares The Currency The medium for transaction settlement within the newtork & rewarding miners. Cryptographically generated, protocol rules detremine issuance & destruction. May be tradeable “off the newtork” (e.g. Bitcoin) or only exist on network (e.g. XRP) BTransaction Instruction -prior transaction(s) -recipient address -value & conditions -digital signature nodes or miners: -propogate Verified Block 1 Initiation 3 Completion the network -group into “candidate blocks” -validate signatures -verify through “consensus” “Value” recipient Blockchain The Ledger AKA the Blockchain. A Public record of all transactions - stored across a distributed P2P network of servers. Verified transactions are added in “blocks” and the history provides proof of value or assets “owned”. Core Blockchain Protocols The R3 Consortium Technologyy led initiative of 30+ banks to design & apply distributed ledger technology to global financial markets Protocols, platforms & SDKs that build on top of core blockchain protocols to enable additional transaction types & services Enabling Layers - The Federal Reserve - Monetary Authority of Singapore - People’s Bank of China - Reserve Bank of India Card Schemes Market Makers Ethereum Validation: Proof of Work Currency: ETH on-network only Issuance: Mining Reward. Latency: 12 seconds Smart contract & distributed app focus 475 Bitcoin ATMs installed worldwide $921million Cumulative VC invest- ment in Bitcoin & blockchain companies to Oct 2015. $462 million of this in 2015 alone. 1 805 Number of early stage Bitcoin & blockchain companies identified by Venture Scanner 2 11mNumber of registered Bitcoin wallets in Sept 2015 - up from 6.6m in Sept 2014 4 106,000 Number of merchants who accept Bitcoin4 $4.9bn Bitcoin capitalisation Nov 2015. Bitcoin accounts for around 90% of the capital value of all cryptocurrencies5 $2.7bn value of Bitcoin trading in Sept 2015 6 30+ Banks & Financial Institutions known to be testing, analysing or investing in the blockchain technologies 3 $121million Largest cumulative funding total - raised by Bitcoin computer developer 21inc.1 7 Data & Analytics Investors Enabling the Financial Services Blockchain Balancingthe Benefits Risks - Unproven technology - Untested capacity/scalabilitty - Low transaction speed - Possible concensus prototcol flaws - Cryptocurrency price volatility - Uncertain regulatory status Blockchain Benefits - Ecosystem simplification - Faster interbank clearing & settlement - Lower transaction costs - Reduced counterparty risk - Transaparency & auditability - Ease of software development/integration Merchant Payment Processing Bitcoin Processing PSPs Supporting BitcoinBitcoin PoS Risk & Fraud Management Multiservice Companies Mining Exchange Wallet Processing Resilience Vs. Protocol Commercialisation Ripple: facilitating multiple Financial Institutions focussing on payment solutions Consensys: building an Ethereum based ecosystem & partnered with Microsoft for Ethereum Blockchain as a Service Key Security/HSMs Ripple Validation: Distributed consensus Currency: XRP on-network only Issuance: At inception -100 BN units created. Latency: 3 seconds Consensus based protocol designed specifically for existing financial institutions. Supplementing existing processes & directly suporting fiat currencies, lead use cases are international paymemts & inter Financial Institution settlement Bitcoin Validation: Proof of Work Currency: BTC - on and off-network Issuance: Mining Reward. 21M Limit Latency: 10 minutes Created as an alternative to central bank controlled fiat currencies, Bitcoin was the first working Cryptocurrency. It remains dominant but lack of scalability and other inherent flaws will likely prevent mass adoption. FirstPartner EVALUATIO N C O PY