BLOCKCHAIN

a revolution
 A TRUST PROTOCOL
 Users had to give away too much personal data to 3rd
parties.
 in 2008, when global capital system went down,
Satoshi Nakamoto introduced Bitcoin.
 This protocol set up rules to verify the data
exchanged among billions of devices without going
through a trusted 3rd party.
Blockchain technology has
a profound implicatios for
every business and every
aspect of our lives.

It's about power and

potential of underling
technology platforms.
what really is blockchain?
• Bitcoin or other digital currency isn't saved in a file
somewhere. it is represented by transactions recorded
on a blockchain.
• A global spreadsheet or ledger.
• Each Bitcoin transaction entered on it is verified by a
large -to-peer peernetwork. Each blockchain is
distributed.
• it runs on computers provided by volunteers around
the world.
In business, expectations are
that the other party will at with
integrity- which boils down to-

1. Honesty
2. Consideration
3. Accountability
4. Transparency
How it works?
• Say I want to buy a piece of artwork, maybe a painting I
saw in an online gallery, to buy it, I would open my
wallet app. Say, for example, a Bitcoin wallet. Bitcoin is
the most popular cryptocurrency. There are others I
could use but I'll keep things simple and go with bitcoin.
With my bitcoin wallet, I create a message specifying the
amount of bitcoin I want to send to buy the painting. I
enter the gallery's public key as where I'm sending that
bitcoin to. Then, I use my private key to sign the
message verifying that it's me who's sending it. This two-
step process is called public-key cryptography.
Blokchain design principles
technology is not ready for prime time!!..
1. Infrastructure is unevenly distributed
2. System lacks the transactional capacity for mass
usage
3. Inaccessibility to third person
4. Liquidity
5. High Latency
6. Behavioral changes
7. Societal changes
8. Possible lack of legal choices in world of transaction
finality and unstoppable smart contracts
 job killer!!..
• The blockchain could become an
amazing platform for radical
automation.

• Computer code rather than

human beings could do the work
of managing assets and
coordinating talent.
Lots of tech executives from top tier companies like Microsoft and Facebook
believe high-tech innovation may briefly disrupt labor markets.

The overall consensus is that innovation will create the next generation of jobs
in the long run. The displacement of humans with automation is really nothing
new.

Now I'm sure blockchain platform has the potential to abolish tens of
thousands of jobs of professional services firms in auditing, accounting, and
finance
THANKYOU!!!...

ZAINUB
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500055388
BTECH CS+ LLB cYBER
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