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Global Technology Outlook - Future of Blockchain

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Blockchain: Where are we? Where are we going? This deck summarizes blockchain use cases, feasibility, and future of Blockchain.

Read the paper here: https://peerj.com/preprints/27529/
Read the blog here: https://hackernoon.com/forecasting-the-future-of-blockchain-fefe0b521e3d

Publié dans : Technologie
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Global Technology Outlook - Future of Blockchain

  1. 1. Future of Blockchain Global Technology Outlook Srinath Perera, Ph.D. VP Research WSO2, Apache Member, srinath@wso2.com | @srinath_perera
  2. 2. Analysis Based on ETAC This is an analysis of blockchain, based on the Emerging Technology Analysis (ETAC) framework
  3. 3. Impact? ● Replace current alternatives to trust that are time-consuming, expensive, and weaker (e.g. intermediaries and government inspections.) ● It is faster, often establishing trust within a second ● It is much more secure, guarded by cryptography algorithms and census data ● The resulting system is cheaper and more agile
  4. 4. Blockchain has many Use Cases
  5. 5. Pros and Cons
  6. 6. Challenges ● Limited scalability and latency ○ about 8 minutes and about 2 to 3 transactions per second. ○ Most use cases are not feasible under these limits. ○ Private blockchain have faster algorithms although they provide lesser guarantees. ● Limited privacy ○ Blockchain only provides pseudo anonymizations. ○ However, by analyzing the transaction graph and other related information, it is often possible to link users to transactions. ○ Once one transaction is linked to a user, all his transactions become known. ● Storage constraints ○ each node must store the full history of the blockchain. This forestalls lightweight nodes, such as IoT devices ○ As time passes, the history becomes larger aggravating the problem. ● Unsustainable consensus ○ The current consensus method is cumbersome and consumes a significant amount of energy. ○ Bitcoin uses more energy than Australia.
  7. 7. Risks • Irrevocability – Appeal is not possible – Some use cases, this can be handled with undo transaction, but some others (e.g. land registry) mistake is not reversible without the current owner complying • Regulator Absence – A regulator plays a key role in some use cases – Although not popular, regulators play a crucial role in many systems (e.g. avoid fraud and pyramid schemes – With Blockchain-based systems it is impossible or expensive to fill the missing regulator’s role • Misunderstood Side Effects – Impact beyond CS • Unclear Regulatory Responses – Potential future regulations and laws governing blockchains and their use
  8. 8. Feasibility of Use Case Categories
  9. 9. Read the Paper A detailed analysis is in our recently published paper, “A use case centric survey of Blockchain: status quo and future directions”.
  10. 10. To receive updates on ETAC and ETAC-based emerging technology analysis, subscribe to our newsletter at https://wso2.com/subscribe/gto
  11. 11. THANK YOU wso2.com