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Summary of Video:

Blockchain
Blockcahin
Blockchain
Good idea
Blockchain
Lots of applications & ideas for blockchain have failed
Good idea for an application needs to require ALL the core benefits
For blockchain there are 4 core principles
1. Public
2. Decentralized
3. Immutable
4. Trust
If only need some of these, I believe you will have “pretty good” chance
If need all, then high chance of success
Blockchain
Public
Blockchain
On blockchain, all transactions are public
By typing in the wallet addresses can see all the transactions
For ethereum, the solidity contract is public
Blockchain
Decentralized
Blockchain
The data is not stored on one server
On blockchain there are many (can consider infinite) copies of the data all over the world
No one controls this data/value
Blockchain
Immutable
Blockchain
Immutable means non-changeable
That is a core principle of blockchain versus database which is changeable
On blockchain, the data can be considered as chain links
_ each link is locked into the data before and after it
Blockchain
Trust
Blockchain
Trust means do you REALLY know who the people involved are
Blockchain uses unique wallet addresses
Transactions are protected with high security encryption routines
When a transaction is approved by the blockchain there is no doubt about
_ who the payee is
_ the payee has the correct amount in their wallet
_ who the receiver is
When transfer happens,
_ it is valid transaction
_ completed in seconds
Blockchain
Example
Blockchain
Store VIN numbers of cars on public blockchain
Compare to Rich Budek’s 4 core principles for blockchain
1. Public
_ can look up if car is stolen in one location not multiple websites/databases
_ true owner is a uuid so can act as car title
2. Decentralized
_ don’t need to go to manufacturer specific website
_ don’t need to worry about manufacturer going out of business
_ Deloren
_ Even Pontiac
Blockchain
3. Immutable
_ YES !
_ Don’t want theft / modifications to data
4. Trust
_ YES !
_ When buy a car know for sure the seller is the true owner
Blockchain
Thank-you