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IBM Confidential: © 2016 IBM Corporation
Blockchain: Point of ViewLuca CompariniIBM France – Blockchain Leader
IBM Confidential: © 2016 IBM Corporation
A look to the past
IBM Confidential: © 2016 IBM Corporation 3
The genesis block of business ledgers(double entry book-keeping)
« Tractatus XI particularis de computibus et scripturis »
Luca Pacioli (1494)
Ledger: the system of record for a business (Business will have multiple ledgers for multiple business networks in which they participate.)
Transaction: an asset transfer onto or off the ledger
IBM Confidential: © 2016 IBM Corporation 4
The genesis block of transactional business machines
IBM System 360, 1965 IBM Hard Disk, 1956 (5 MB)
IBM Confidential: © 2016 IBM Corporation 5
The genesis block of International Business Machines
IBM Cheese-Cutter, 1920IBM Scale, 1911 IBM Time-Stamp(Proof of Existence Machine)
IBM Confidential: © 2016 IBM Corporation 6
The genesis block of shared distributed ledgers
Satoshi Nakamoto (?)
Bitcoin P2P e-cash paper Satoshi NakamotoSat, 01 Nov 2008 16:16:33 -0700
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.
The paper is available at: http://www.bitcoin.org/bitcoin.pdf
The main properties: - Double-spending is prevented with a peer-to-peer network. - No mint or other trusted parties.- Participants can be anonymous. - New coins are made from Hashcash style proof-of-work. - The proof-of-work for new coin generation also powers the
network to prevent double-spending.
IBM Confidential: © 2016 IBM Corporation 7
The genesis block of Blockchain and IoT
Supply ChainSmart Object
RetailerJanuary 2015Project ADEPTIBM + Samsung
Smart ContractDigitalized self-executable contract
with embedded business logic
https://www.youtube.com/watch?v=U1XOPIqyP7A
IBM Confidential: © 2016 IBM Corporation 8
http://www-935.ibm.com/services/us/gbs/thoughtleadership/internetofthings/
Device Democracy
IBM Confidential: © 2016 IBM Corporation
IBM Perspective
IBM Confidential: © 2016 IBM Corporation 10
Same ingredients, different qualities, different Use Cases
Based on:- Swanson, T. (2015). Consensus as a service: a brief report on the emergence of permissioned, distributed ledger systems. - Brown, R. G. (2015) Towards an unified model for replicated, shared ledgers.
PermissionedPermission-less
Design points:- Public network with no 3rd parties- Trustless environment- “Censorship-Resistance”
Consensus:- Expensive, slow- Incentives intrinsic to platform
Design points:- Private / Semi-private network- Actors known / knowable- Regulated Industries
Consensus:- Protocol assumes known actors- Incentives extrinsic to platform
IBM focus is here
IBM Confidential: © 2016 IBM Corporation 11
Other challenges to make Blockchain real for BusinessPrivacy & Confidentiality
IBM Confidential: © 2016 IBM Corporation 12
Other challenges to make Blockchain real for BusinessGovernance…
IBM Confidential: © 2016 IBM Corporation 13
Make Blockchain real for Business
Confidentialpermission
control
Privateun-linkable identity
Shared Ledgersingle source of
truth
Securetamper proof
(extra security)
Audit-able prove identity &
ownership
Viable100+ year
architecture
Smart Contractsbusiness logic
Digital assetsRecord depository
ConsensusModular protocol
PermissionedParticipants
Identity
IBM Confidential: © 2016 IBM Corporation 14
IBM Confidential: © 2016 IBM Corporation 15
Hyperledger experience at BlockFest 1.0
IBM Confidential: © 2016 IBM Corporation 16
Hyperledger experience at BlockFest 1.0
IBM Confidential: © 2016 IBM Corporation 17
Supply Chain Financing – Demo ContextAbout IGF :§ IBM Global Finance (IGF), the internal Bank of IBM § Lends $44bn a year to 4000+ partners to pay suppliers (IBM clients or not)§ 2,9 million invoices § 25,000 disputes for $100 million § 44 days to resolve dispute
Shadowchain employed for IGF…§ Not replacing the current system with a full Blockchain system§ The technology is only used to enrich current IGF lending system
"No, I'm not suggesting the moonshot of immediately redoing our global financing, lending system on a blockchain. But we havenow employed a shadow chain: my definition of shadowchain is it's not replacing the primary business process, it's being used to enrich that business process with a useful function that it currently doesn't do.”
Source: IBM blockchain leader Jerry Cuomo
IBM Confidential: © 2016 IBM Corporation
Thanks ! Questions ?