Blockchain in IT.pptx
- 1. Understanding Blockchain by Bina Ramamurthy [email protected] https://www.linkedin.com/in/bina-ramamurthy/ January 30, 2021
- 2. 2 Plan for this talk • Discuss how I got started on blockchain technology • My journey • My background • How can you get started? • Coursera Blockchain Specialization MOOC • Blockchain in Action book
- 3. About me I enjoy teaching and have been teaching for more than three decades. NSF-supported Data-intensive computing grants and SUNY IITG grant in blockchain SUNY chancellor’s award for excellence in teaching Coursera specialization on blockchain (140,000+ global learners) I am most proud of is my recent project: writing Blockchain in Action book
- 4. My Blockchain Journey …2009 2013 2016-2017 2017-2018 2018-2021 …….. Learning, researching Coursera blockchain MOOC Blockchain courses 2018 – introduced in the curriculum… Book
- 5. Evolution of computing systems 5 Personal computing systems
- 6. Bitcoin & Blockchain Bitcoin 0.1.0 was released on 9 January 2009 2007-2008 financial meltdown Bitcoin showed that -- a fact recorded on a blockchain can be automatically verified by anybody thus establishing trust and transactions among unknown peers Innovation: blockchain technology Idea: What worked for cryptocurrency should work for other business transactions
- 7. A Brief History of blockchain 8/4/2022 E-Commerce Communication mobile apps … The Internet Protocol (TCP/IP) Cryptocurrency: Bitcoin: 2008/2009 The Blockchain Protocol Peer-to-peer autonomous digital currency system among unknown peers with no intermediaries Validation, Verification, Immutable recording
- 8. Bitcoin • Bitcoin : peer-peer cryptocurrency that does not require a middle entity such as a bank to complete a transaction between the sender and receiver. • Created by a secretive person (s) known as Satoshi Nakamoto. • Runs on the Internet • To keep track of the transactions, an ingenious ledger technology has been devised. • This ledger is distributed and is a collection of blocks of transactions. • How do you trust the ledger? The trust model out of this distributed ledger is an important contribution of Bitcoin. • The distributed ledger and associated concepts are called the “blockchain” • Bitcoin technology is the genesis for the advent of blockchain revolution. 8/4/2022 8
- 9. BLOCKCHAIN IS NOT JUST ABOUT CRYPTOCURRENCY ANYMORE! 8/4/2022 E-Commerce Communication mobile apps … The Internet Cryptocurrency: Bitcoin: 2008/2009 The Blockchain Validation, Verification, Immutable recording Computing infrastructure: Smart contracts Autonomous, Decentralized, applications: 2013 We need code to verify and validate application-specific rules and criteria
- 10. • Trust is a critical component for trade and any type of business transaction. • We develop and model our trust based on ad hoc means: Recommendation systems, our own knowledge, business experts on the news, etc. • Blockchain is about “trust automation”. • Take a look at the evolution of our Internet as shown here. Blockchain: A Trust Layer over the Internet The Internet HTTP HTTPS Security HTTPS Security Web application Secure web application Secure & Trusted web application Blockchain Trust Year 2000, RFC 2818 Standard Year 2009, Blockchain-based trust No standards yet Year 1991, RFC 7230
- 11. Blockchain: The Decentralization Infrastructure (1) 8/4/2022 Functions of the intermediaries are shifted to the peer participants and the blockchain nodes: Disintermediation: validation, recording, verification using blockchain software Traditional Centralized System Decentralized System 1: Decentralization
- 12. Blockchain: The Distributed Immutable Ledger (2) • Eve Transactions Transactions Validate Gather Block New Block Consensus Verify Confirm Modify Chain invalid Transactions Block Blockchain
- 13. Blockchain: The Disintermediator (3) Verification Validation Recording Consensus All defined by the blockchain protocol, and implemented. For example, consider checking in for your flight at the airport. Trust & Security
- 14. • Decentralization • Disintermediation • Distributed Immutable Ledger • Blockchain is a trust layer on the internet. • On a strong foundation of more than 40 years of scientific research (cryptography, hashing, p2p, consensus protocols) • Enabling automation, accountability, auditability, efficiency, accuracy, fidelity, fairness, and inclusiveness. • 8/4/2022 Summarizing, the blockchain is about
- 15. Key takeaway about blockchain It is trust layer over the internet.
- 16. Why should you care about blockchain? The need is in developing applications, in solving problems and designing solutions using blockchain.
- 17. How can you get involved? Where can you get started? Single stop solution for thought leaders, policy makers, regulators, designers, problem solvers, enterprise architects, developers, programmers and users.
- 18. How to read the book? • Look at the first chapter (Chapter 1 and Chapter 12) first. • Read ONLY the problem statements for the problems discussed in the chapters. 1. Digital democracy (Ballot-Dapp) 2. A marketplace for unused airline seats (ASK-Dapp) 3. A blind auction framework (BlindAuction-Dapp) 4. An incentivization model and side-channel for micropayments for global level operations such as global plastic cleanup (MPC-Dapp) 5. A token model for real estate transactions and for tokenization of assets (RES4-Dapp) 6. An educational credentialing model and a new way of thinking about degrees, skills, and education (DCC-Dapp) • Programmers and developers, we have provided a wealth of code for learning through worked out examples and with extensive instructions.
- 19. Education recommendation Step 1: Create courses – 2 courses Basics, Advanced Step 2: Create a certificate program: 2 courses + capstone project course Step 3. Think about minor or track in blockchain Only then think about graduate degree.
- 20. I am ready for any questions now. ??
Editor's Notes
- #8: Where is the innovation? Bitcoin is a live proof of a robustness