UNDERSTANDING

BLOCKCHAIN
DECENTRALIZED. AUTONOMOUS. EFFICIENT
 The Beginning of the End
I bet taxpayers remember providing more than $812 billion to Citigroup and Bank
of America, two Wall Street banks, in 2009 to bail them out during the 2008
financial crisis. Taxpayers remember that generosity; big banks evidently don't.
- John Kennedy

I believe that the root cause of every financial crisis, the root cause, is flawed
government policies.
- Henry Paulson

The financial crisis happened because no-one could actually say out loud how
bad things were.
- Mark Ravenhill
The Birth of Bitcoin
Satoshi Nakamoto publishes his Bitcoin
Whitepaper on Oct 31, 2008
Bitcoin is the world's first conventional P2P (Peer to Peer)
digital asset transfer system. It did not run on any centralized
systems, and worked autonomously with the help of numerous
Bitcoin users spread around the globe.

Nakamoto, while remaining anonymous, created Bitcoin to be a

concept that competed against centralized financial
institutions and the government.
 Internet Blockchain
Blockchain is a protocol that powers
Internet is a protocol - TCP/IP
cryptocurrencies and smart contracts

Transmit Information Instantly Record and Transmit Value Instantly

Defining Blockchain
Blockchain is an open, distributed ledger that can record transactions
between two parties efficiently and in a verifiable and permanent way

Permanent Privacy-Focused P2P

All transactions recorded Despite being open access, Peer-to-Peer transactions. No

in a blockchain are Blockchains are highly private centralized institutions are
permanent, and cannot be and secure - no confidential required to verify or run
erased or modified details are required transactions. This makes it
available 24x7
Understanding a Decentralized Model
 How Does a Blockchain Work?

Transaction Request Block Creation Broadcasting

A User Requests for a Transaction A block representing the transaction is created The Block is Broadcasted to all nodes of the
network

Transaction Verification Addition of Block to the Chain Node Validation

The transaction gets verified and executed The Block is Added to the Chain All the nodes validate the block and the
transaction
 Why Blockchain Matters

Faster Settlement Immutable

Much faster than the manual settlement The transactions cannot be undone once they
processes in non-blockchain flows. Solana can are recorded in the blockchain
process up to 50,000 transactions per second.

Increased Network Capacity Shared and Distributed

More capable than centralized networks, and Blockchain offers a shared and distributed
available 24x7 ledger that is open and accessible to anyone
who wishes to view it

More Secure Decentralized

Higher security than traditional networks as it No dependency on single server and hence, no
does not have one central server to hack authority
 Birth of New Technologies from Blockchain

NFTs (Non-Fungible Tokens) DeFI (Decentralized Finance)

NFTs are unique digital assets that are verified on DeFi refers to financial applications built on top
a blockchain. They are often used to represent of blockchain technology that are designed to
artwork, music, and other creative works be decentralized and transparent.
Cryptocurrencies Smart Contracts
Cryptocurrencies are digital assets that use Smart contracts are self-executing contracts with
encryption techniques to secure and verify the terms of the agreement between buyer and
transactions and control the creation of new units seller being directly written into lines of code
 WHAT'S SO SMART ABOUT A
SMART CONTRACT?

Contract Created Contract Triggered Contract Executed

A contract is created between two parties Some triggering events are set, such as such as The contract self-executes and automatically
anonymously, and is stored on the blockchain. cab rides, flights and hotel check-in's. follows instructions, such as completing
This smart contract could be something as payments and booking hotels/cabs once certain
simple as a travel itinerary. milestones are reached. It's all in the code.
CHALLENGES
WITH
Scalability Regulation
BLOCKCHAIN Blockchain technology can be slow and Blockchain technology operates in a legal grey
expensive to use, particularly when it comes to area in many jurisdictions, and there is a lack of
ADOPTION processing large volumes of transactions. clarity around issues such as taxation, liability,
and data privacy.

Security Education Governance

While blockchain technology is often touted as Blockchain technology is still relatively new, and Blockchain technology is decentralized by
being secure, there have been several high- many people are unfamiliar with how it works design, which can make it challenging to
profile hacks and security breaches of and what its potential applications are. establish effective governance structures.
blockchain systems.
Career in Blockchain
Does Blockchain's promise for a decentralized, autonomous and
efficient world translate into jobs? Yes, but with a caveat.

You have to innovate - endlesly. In an industry which is as

volatile as Dogecoin's value, you need to embrace the latest
trends and practices.
STARTING YOUR Read, Read & Read
In order to understand the practical applications of

BLOCKCHAIN JOURNEY Blockchain, you have to read through multiple

whitepapers and articles from thought leaders.

Interact with Professionals

Attend Seminars and Network with Professionals from the
industry - pick their brains to understand what goes on
under the hood.

Identify your Niche

Blockchain is a multi-billion dollar industry - identify
your niche and your role in this upcoming space and
focus on becoming a Top 100 leader in your region

Work on Projects - Paid and Unpaid

You can only truly learn once you have begun to work.
While paid work may take a while, do not hesitate to work
on projects without financial incentives. Money will
come once you are experienced.
Any Questions?
Let's discuss what we learned today!