This is an Executive Leadership Workshop Program by Gokul Alex on the fundamentals and frontiers of Blockchain which is a transformative technology covering key concepts such as value proposition design, competitive advantage, operating models, value streams, architecture frameworks etc. It is a distillation of essential concepts and emerging frontiers in the world of distributed ledger technologies.
Factors to Consider When Choosing Accounts Payable Services Providers.pptx
Blockchain Essentials for Business Leaders - Value Propositions and Advantage Layers
1. What is a
Blockchain ?
A new way of managing data. It introduces a
distributed model whereby a network of participants
replicate and share a database, eliminating the need to
reconcile between disparate datasets.
6. What is not
Blockchain ?
A centralised database
A high volume low value transaction engine
A trusted third party
A centralised automation engine
A centralised reporting tool
A centralised analytics tool
19. What are the advantage layers of
Blockchain Technology ?
Blockchain Technology enables more open, inclusive, and secure business networks, shared operating
models, more efficient processes, reduced costs, and new products and services in banking and finance.
20.
21.
22.
23. Different Models of Blockchain
Public, Private, Permissioned, Permission-less, Federated, Hybrid Models
31. Blockchain is a
Trust Machine
Exchange ofAssets
Common Repository
Complex Value Chain
Guaranteed Security
Guaranteed Traceability
Instant Transactions
Shared Ledger
Auditability
Business ProcessAutomation
32.
33.
34. Blockchain Evolution
Digitisation of Money
Digitisation of Ledger
Digitisation of Records
Digitisation of Contracts
Digitisation of Trust
Digitisation of Value
70. Why do we say Blockchain is tamper
proof and tamper evident ?
Once recorded, the data in any given block cannot be altered retroactively without
alteration of all subsequent blocks, which requires consensus of the network majority
71.
72. What is Blockchain Originally ?
The original blockchain is the decentralised ledger behind the digital currency bitcoin.
73. How is blockchain connected to bitcoin
protocol ?
The invention of the blockchain for bitcoin made it the first digital currency to solve
the double-spending problem without the need of a trusted authority or central server.
74. What is the historic origin of
Blockchain Technology ?
The first work on a cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W. Scott Stornetta. They wanted to
implement a system where document timestamps could not be tampered with. In 1992, Bayer, Haber and Stornetta incorporated Merkle
trees to the design, which improved its efficiency by allowing several document certificates to be collected into one block
80. What is a merkle tree ?
In cryptography and computer science, a hash tree or Merkle tree is a tree in which every leaf node is labelled with the
cryptographic hash of a data block, and every non-leaf node is labelled with the cryptographic hash in the labels of its child
nodes.
90. Blockchain based KYC : Business Needs
Challenges in the current systems and processes
Lack of consistency across companies
High chances of fraud due to information silos
Onerous and time consuming process due to
manual activities
High cost due to paper intensive process
91. Blockchain based KYC : Stakeholders
• Customers,
• Regulators,
• Third Party Verifiers
• Government Agencies
• Banks,
• Insurance Agencies,
• Loan Providers
92. Blockchain based KYC : Data Model
Customer Records
Address Proofs
Identity Proofs
Onboarding Forms
Digital Signatures
93.
94. Blockchain based KYC : Benefits
Automated Process resulting in time and cost
savings
Enhanced customer experience as customer will
have to submit KYC proofs & data only once
Tamper proof database provides security to the
data at rest and data in motion
Enhanced privacy from cryptographic controls
Greater transparency due to shared database