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Andrew Sanders VP Hospitality – DataArt Solutions, Inc This document is the property of DataArt The document or any part of it may not be used or reproduced without written permission.
Andrew Sanders
VP Hospitality – DataArt Solutions, Inc
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
1. What it is
2. Why it was invented
3. How it works
4. Where we are in its stage of evolution
5. Why the fuss?
6. What organizations are already doing
7. How it could impact hospitality and travel
8. What you should be planning/doing if you’re not already
Q&A
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The document or any part of it may not be used or reproduced without written permission.
Guaranteed trust means it can eliminate the middleman
A blockchain is simply a database which has several interesting characteristics
• It’s immutable, meaning that records can only be added and never deleted or changed
• It’s distributed among many computers that can store full or partial copies
• Theoretical 100% uptime due to so many devices
Is a ”Trust enabler” between two parties
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The document or any part of it may not be used or reproduced without written permission.
Era Invention By Behavior Revolution
3500BC The Wheel The Mesopotamians Pottery (300 yrs later: Chariots)
200BC The Compass Han Dynasty Navigation
c.1440 The Printing Press Gutenberg Printing (within 60 years 20m volumes had been printed)
c.1770 The Steam Engine James Watt The Industrial Revolution
1876 The Telephone Alexander Graham Bell Global Business and Communication
1879 The Electric Light Bulb Thomas Edison The ability to work in otherwise dark hours; sleep patterns
1928 Penicillin Alexander Fleming Ability to cure infectious diseases; antibiotics
1930s Contraceptive Pill Sexual Revolution
1930s Nuclear Fission Nuclear Age
1960s The Internet Lawrence Roberts Information Age
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Year Milestone
1965 Two computers at MIT Lincoln Labs communicate with one another using packet-switching technology
1968 Beranek and Newman Inc (BBN) complete their definition of “Interface Message Processor” (IMP)
1968 BBN awarded DoD contract for ARPANET
1969 ARPANET, an early packet switching network, is the first to implement TCP/IP (for e-mailing)
1973 Global networking begins: Computers in London and Norway connect to ARPANET. The term ”Internet” is born
23 August 1991 Public can access the World Wide Web for the first time
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The document or any part of it may not be used or reproduced without written permission.
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
You are here
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
A blockchain is simply a database which has several interesting characteristics
• It’s immutable, meaning that records can only be added and never deleted or changed
• It’s distributed among many computers that can store full or partial copies
• Theoretical 100% uptime due to so many devices
Is a ”Trust enabler” between two parties
It can eliminate the middleman
Is so important, it’s not revolutionary but foundational
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The document or any part of it may not be used or reproduced without written permission.
Blockchain conceptualized in 2008 by “Satoshi Nakamoto”
Bitcoin cryptocurrency established on a blockchain platform
Guaranteed, trusted record of data or assets of value
• Eg money, property deeds, titles, patents, IP, ID, music, basically any digital transaction
Allows two parties to immediately establish a trusted relationship without using a middleman
• Eg banks, notary public, title companies, credit agencies, the DMV
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The document or any part of it may not be used or reproduced without written permission.
Traditional transaction record or ledger showing history
2007 Buy a house
2009 Add an addition
2010 Renovate kitchen
2011 Replace a window
2012 Paint the outside
2014 Change the bathroom
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Data
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Traditional transaction record or ledger showing history – with manipulation
2007 Buy a house
2009 Add an addition
2010 Renovate kitchen
2011 Replace two windows
2012 Paint the outside
2014 Change the bathroom
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Data
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The document or any part of it may not be used or reproduced without written permission.
1/3: State-of-the-art encrypted keys are added to each record (hash keys)
1ac3
5e1a
e1ac
9b34
fb9c
42ec
2007 Buy a house
2009 Add an addition
2010 Renovate kitchen
2011 Replace a window
2012 Paint the outside
2014 Change the bathroom
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3
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5
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Data
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
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2/3: Each new record contains historic data for the previous record to guarantee it is in sequence
Data
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2/3: Each new record contains historic data for the previous record to guarantee it is in sequence
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Data
“chain”
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The document or any part of it may not be used or reproduced without written permission.
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
2007 Buy a house
2009 Add an addition
2010 Renovate kitchen
2011 Replace a window
2012 Paint the outside
2014 Change the bathroom
1ac3
5e1a
e1ac
9b34
fb9c
42ec
2007 Buy a house
2009 Add an addition
2010 Renovate kitchen
2011 Replace two windows
2012 Paint the outside
2014 Change the bathroom
1ac3
5e1a
e1ac
7a24
ca18
da2e = = = = = =
Which one wins? Copy 1 Copy 2
Comparison of two distributed ledgers highlights discrepancies
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Discrepant records immediately identified and rejected
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Custodian
Custodian
Custodian
Custodian
Broker
Broker
Broker
Broker
Buyer
Buyer
Buyer
Buyer
Clearing House
Main ledger
Clearing House
Clearing House
Clearing House
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Broker Custodian
Custodian Broker
Buyer
Buyer
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• Become chronologically validated
• Automatically rejected discrepancies
• Become trusted by definition
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“Blockchain” Distributed Ledger Technology (DLT)
Blockchain
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• Early stages, lots of learning
• No clear direction
• It will impact commerce
• Important to develop a strategy and take blockchain into account in development projects
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• Financial services – banking, stock broking, FX, settlement
• Voting
• Music streaming
• Real estate
• Supply Chain Management
• Travel and Hospitality
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• Around 80% of banks are known to be working on their own blockchain technology
• Barclays Bank: Sep’16: 7-10 day transaction took four hours
• IBM and government of Dubai on trade
• Nasdaq
• Walmart
• Casino hotels
• Hotel chains in Japan accepting Bitcoin
• WebJet: building a hotel distribution solution with Microsoft
• Winding Tree: travel distribution platform
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• Booking transactions/history
• Payment/Settlements
• Any authentication of assets
• Mobile Key
• Loyalty programs: immediate award and availability of points, identification, personalization, interoperability, conversion of points to cryptocurrency
• Any hospitality middleman is facing disruption: peer-to-peer services that challenge the business model of companies like Airbnb, Uber/Lyft
• Travel insurance (eg Etherisc’s Flight Delay app)
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• Educate yourself and your teams
• Develop a short and medium term strategy (pilot and vision)
• Influence the industry on strategy and priorities
• Find suitable talent internally
• Source expertise externally
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
1. What it is
2. Why it was invented
3. How it works
4. Where we are in its stage of evolution
5. Why the fuss?
6. What organizations are already doing
7. How it could impact hospitality and travel
8. What you should be planning/doing if you’re not already
Q&A
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
Andrew Sanders
VP Hospitality – DataArt Solutions, Inc
This document is the property of DataArt
The document or any part of it may not be used or reproduced without written permission.
