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New Industrial Revolution: Blockchains SIME Summer May2018
1. The New Industrial Revolution(s)?
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Exploring blockchains and the future of value creation
May 2018
2. Digital is the main reason
just over half the Fortune 500 companies
have disappeared since the year 2000.
-Pierre Nanterme, CEO Accenture, 2016
Yet..Digital disruption
has only just begun.
3. People
• “Net generation”
• 24x7 “mobile” workforce
• Gig economy
• Learning via social media
• Sharing not owning
• Sustainability
•
Technology
• Broadband/wifi
• Smart phones
• Cloud, fog
• Internet of Things
• AI/ML/NN
• Autonomous vehicles
• Smart robotics
• VR/AR/Holography
• 3D printing/ALM
• Blockchains
Open Source
• Software
• Hardware
• Physibles
Convergence of…..
Finance
• Microlending/microfinance
• Crowdfunding/equity/P2P lending
• Cryptocurrencies/tokens
• Blockchains, smart contracts
• Mobile money and payments
• M2M/R2R payments
4. https://bitcoin.org/bitcoin.pdf
“…an electronic payment system based on cryptographic proof
instead of trust, allowing any two willing parties to transact
directly with each other without the need for a trusted third party.”
7. Currency transformation?
Three eras of currencies
1. Commodity-based
2. Politically-based
3. Math-based
- Chris Dixon
1000s of cryptocurrencies
8. What is the Blockchain?
• Decentralized and distributed public digital
ledger (P2P network)
• Records and transaction data stored across
network of computers
• Chronology and integrity of transactions
enforced by cryptography
• Permanent record unless all subsequent
blocks altered through network consensus
Removes need for trusted
third parties/intermediaries
9. Wide variety of blockchain development efforts
● Payment processing & money transfers (IBM with KlickEx and Stellar,
McDonalds with Omise )
● Efficiency in shipping/logistics (IBM with Maersk, EY with Schneider
Logistics)
● Monitoring of supply chains (IBM with Walmar,t WWF)
● Enforcing contracts and human rights in global supply chains (Coca-Cola)
● Immutable data backup (Boeing)
● Asset management in farming (EY in Australia )
● Safety/security of devices on IoT platform (Cisco)
● Food and drug safety (Merck)
● Real estate, land, auto title transfers (Swedish Land Registry)
● Verification of Digital IDs (Microsoft)
● Notarization of Open Government Data (EY with City of Vienna)
● E-government, digital voting, securing health records, grades (Estonia)
11. FIRM FOUNDED EMPLOYEES MKT CAP
BMW 1916 125,000 $60B
UBER 2009 11,000 $48B
MARRIOTT 1927 227,000 $51B
AIRBNB 2008 5,000 $31B
WALT DISNEY 1923 195,000 $167B
FACEBOOK 2004 21,000 $512B
WALMART 1962 2,300,000 $298B
ALIBABA 1999 50,000 $469B
Adapted from Parker & Van Alstyne, with Choudary, 2016, updated January 2018
Something fundamental is changing
12. Shifting market logics – Enabling one-off transactions
between strangers globally
Ericsson & Augur 2011
13. • Third parties and IOT devices on
platform
– Ownership and Fraud
– Operational
– Health & safety
• Payment systems
– Functionality
– Fraud
• Data
– Cyberhacking and security breaches
– Ownership
– Integrity and ethical usage of
personal data
• Regulation & compliance
– Upstream and downstream
– National & international
Increasing
complexity
of trust
14. A means to fill the
increasingly complex
trust gap?
Blockchain technology
15. Drivers
• Food fraud
• Human rights
• Contract breaches
• Sustainability issues
• Regulatory and legal
demands
• Stakeholder pressurehttps://newfoodeconomy.org/blockchain-seafood-supply-chain-traseable-sea-quest-viant-wwf/
Sea Quest Fiji
20. By 2020, 20% of trade finance will incorporate
blockchain technology. (PwC)
By 2027, 10% of global GDP will be stored on
blockchains or blockchain-related technology.
(World Economic Forum)
21. Only 9% organizations active (n=3138)
Q: What are your
organization’s plans
in terms of the
blockchain?
https://www.gartner.com/newsroom/id/3873790
May 2018
22. IOTA – Beyond the blockchain with Tangle
• >USD 10 bln in transactions
• Partnerships with Bosch, Volkswagen, Fujitsu,
Orange, Microsoft
23. “We always overestimate the change that will
occur in the next two years and underestimate
the change that will occur in the next ten.”
- Bill Gates, The Road Ahead, 1996
Scenario
Thinking
24. Want to learn more?
bit.ly/bcdt2016pdfhttps://bit.ly/2rAWccl