Landscape & Future Directions Jeremy Clark m A I e r e - - PowerPoint PPT Presentation

▶
landscape future directions
SMART_READER_LITE
LIVE PREVIEW

Landscape & Future Directions Jeremy Clark m A I e r e - - PowerPoint PPT Presentation

Jan 27, 2023 117 likes •571 views

Blockchain Technology: Landscape & Future Directions Jeremy Clark m A I e r e h W Jeremy Clark Assistant Professor at the Concordia Institute for Information Systems Engineering (CIISE) in Montreal PhD from the University

slide-1
SLIDE 1

Jeremy Clark

Blockchain Technology:

Landscape & Future Directions

slide-2
SLIDE 2

Jeremy Clark

  • Assistant Professor at the Concordia Institute for Information Systems

Engineering (CIISE) in Montreal

  • PhD from the University of Waterloo (2009)
  • Team of eight graduate students
  • Numerous academic papers on Bitcoin/Blockchain, including one of the

earliest

  • Contributed to courses (Princeton, MIT) & textbook on Bitcoin/blockchain
  • Testified to Senate and House committees on Bitcoin/blockchain

W h e r e I A m

slide-3
SLIDE 3
slide-4
SLIDE 4
slide-5
SLIDE 5
slide-6
SLIDE 6

Digital Revolution Blockchain

slide-7
SLIDE 7

Digital Revolution For business processes based on paper records, digitization increases efficiency

slide-8
SLIDE 8

🚣

slide-9
SLIDE 9

🚣

slide-10
SLIDE 10

🚣

slide-11
SLIDE 11

🚣

slide-12
SLIDE 12

🚣

slide-13
SLIDE 13

🚣

slide-14
SLIDE 14

Digital Revolution

slide-15
SLIDE 15

Database Digital Revolution

slide-16
SLIDE 16

T-2351 T-4528 T-9636 T-9833

slide-17
SLIDE 17

T-2351 T-4528 T-9636 T-9833

Who Owns the Database? Privileged Position Availability Manage Access

slide-18
SLIDE 18

T-2351 T-4528 T-9636 T-9833

Who Owns the Database? Privileged Position Availability Manage Access Reconciliation

slide-19
SLIDE 19

T-2351 T-4528 T-9636 T-9833

slide-20
SLIDE 20

T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833

slide-21
SLIDE 21

T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833

Disintermediation

slide-22
SLIDE 22

T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833

Blockchain

slide-23
SLIDE 23

T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833

Blockchain

Data cannot be changed once written Data is only written if it is true (truth by definition) Everyone sees the same data; no reconciliation Data is readily available

slide-24
SLIDE 24

T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833 T-2351 T-4528 T-9636 T-9833

Blockchain

Data cannot be changed once written Data is only written if it is true (truth by definition) Everyone sees the same data; no reconciliation Data is readily available Data can activate processes which are validated

slide-25
SLIDE 25
  • Securities: stocks, bonds, derivatives, swaps,

repos and post-trade settlement

  • Markets: land deeds, carbon credits
  • Banking: inter-bank settlement, international

payments, remittances, micropayments, loyalty

  • Provenance: luxury goods, organic certifications,

supply chain management

  • Government: voting, registries
  • Coordination: internet of things
  • Identity management: KYC, PKI
  • Fun: gambling, prediction markets

Use Cases

slide-26
SLIDE 26
  • Securities: stocks, bonds, derivatives, swaps,

repos and post-trade settlement

  • Markets: land deeds, carbon credits
  • Banking: inter-bank settlement, international

payments, remittances, micropayments, loyalty

  • Provenance: luxury goods, organic certifications,

supply chain management

  • Government: voting, registries
  • Coordination: internet of things
  • Identity management: KYC, PKI
  • Fun: gambling, prediction markets

Use Cases

Blockchain systems can interact

slide-27
SLIDE 27

Frequently Asked Questions & common misconceptions

slide-28
SLIDE 28

Relation to Bitcoin

Bitcoin is designed to be a currency (BTC) Bitcoin is not a digital form of an existing currency Thus not like Paypal, EFTs, interact-by-email Bitcoin is decentralized: no central bank

slide-29
SLIDE 29

The term blockchain

1) Bitcoin’s protocol for achieving a distributed ledger maintained by an open network of profit- seeking nodes 2) Any distributed ledger 3) The philosophy behind Bitcoin: digitizing commodities, securities, deeds, contracts…

slide-30
SLIDE 30
  • Blockchains and (distributed) databases are similar

and somewhat interchangeable

  • The emphasis is on different things
  • Blockchains are for small data (1MB every 10 min)
  • Blockchains are for validated data
  • Blockchains are not about complex queries (you

download everything)

  • Blockchains are secure against malicious nodes

Blockchain v. Database

slide-31
SLIDE 31
  • CAC-ISO-TC307: Blockchain and electronic

distributed ledger technologies

  • Industry Consortiums: Various

Standards Regulation

  • Use-Case Specific: Mostly pertains to Bitcoin
  • Taxation: capital gain
  • Accounting (IFRS): intangible asset
  • KYC/AML: Fintrac given authority
  • ICOs/Trusts/Exchanges: Securities authorities
slide-32
SLIDE 32
  • By default, blockchains have no confidential

transactions

  • Confidentiality can be added on with encryption but

non-trivial

  • By default, blockchains have no identities

associated to transactions

  • Identities can be added (or conversely, anonymity

strengthened)

Confidentiality & Privacy

slide-33
SLIDE 33

Consistency? Consensus through voting

Proof of Work

slide-34
SLIDE 34

Consistency? Consensus through voting Honest majority

slide-35
SLIDE 35

Consistency? Consensus through voting One vote per ________? Honest majority

slide-36
SLIDE 36

Consistency? Consensus through voting One vote per ________? 1) Entity: trusted list of entities, closed network Honest majority

slide-37
SLIDE 37

Consistency? Consensus through voting One vote per ________? 1) Entity: trusted list of entities, closed network 2) Unit of computational effort: Bitcoin’s blockchain No trust, open network Honest majority

slide-38
SLIDE 38

ACM Queue

slide-39
SLIDE 39

1980 1985 1990 1995 2000 2005 2010 2015

smart contracts public keys as identities Byzantine fault tolerance proof

  • f work

digital cash Merkle Tree [33] Haber & Stornetta [22] Haber & Stornetta [23] Benaloh & de Mare [6] Bayer, Haber, Stornetta [5] Ecash [10] anti-spam[15] hashcash [2] Micro- mint [44] client puzzles

[25]
  • ffline

Ecash [32] DigiCash Byzantine Generals [27] Paxos [28] PBFT [8] Paxos made simple [29] computational impostors [1] Chaum anonymous communication

[9]

Chaum security w/o identification

[11]

b-money [13] Bit gold [42] private blockchains Bitcoin [34] Ethereum Szabo essay [41] Goldberg disser- tation [20] Sybil attack

[14]

Nakamoto concensus linked timestamping, verifiable logs

slide-40
SLIDE 40

More resources

slide-41
SLIDE 41
slide-42
SLIDE 42
slide-43
SLIDE 43

Bitcoin and Cryptocurrency Technologies

Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder with a preface by Jeremy Clark Draft — Feb 9, 2016

Feedback welcome! Email ​bitcoinbook@lists.cs.princeton.edu

For the latest draft and supplementary materials including programming assignments, see our ​Coursera course​. The official version of this book will be published by Princeton University Press in 2016. If you’d like to be notified when it’s available, please sign up ​here​.
slide-44
SLIDE 44

ACM Queue

slide-45
SLIDE 45

@PulpSpy

Q