Blockchain: The New Age Internet
• Satoshi Nakamoto developed the first database for blockchain
• What is the biggest challenge with digital information?
• Blockchain allows digital information to be distributed without being
copied
• https://youtu.be/27nS3p2i_3g
Problems with conventional internet
• Duplicity
• Privacy
• Intermediaries
• Centralized controls
• Security
The basics
• A blockchain is an immutable time-stamped series record of data that is distributed and
managed by cluster of computers.
• Each of these blocks of data (i.e. block) are secured and bound to each other using
cryptographic principles (i.e. chain).
• The algorithm is based on consensus.
• An open blockchain network has no central authority — it is the very definition of a
democratized system. Since it is a shared and immutable ledger, the information in it is open
for anyone and everyone to see.
• Three pillars of blockchain: 1)Decentralization 2) Transparency 3) Immutabilty
• Costs of blockchain?
• There are infrastructure costs (cloud infrastructure, operating system, middleware, database,
and programming language runtime environment etc.) but hardly any transaction costs
Estimated infrastructure and setup costs
• White Paper professionally drafted (this is FIRST; a clear vision, well
explained, within legal boundaries, is ESSENTIAL in the cryptosphere) -
$750-$1,500.
• Website/basic landing page - $450.
• Complete platform (from basic to platform/mining/wallet and payment
platform with unique ERC20 token) - $1,350-$4,800.
• ERC20 token with smart contract customization as per your choice -
$1,250.
• Advertising and social media control. By the time you have done all of
this you will easily have spent a minimum of $25k to properly develop
and launch your ICO/ITO.
• However, you can have a blockchain-based game or website developed
for $1k-$2k;
Creating a DistributedApp using Public
Blockchain Networks
• Applicable to decentralized business models to enable ‘Peer to peer’
(P2P) transactions using cryptocurrencies
• Eliminating middlemen: In any industry, if you find middlemen and
tampering of records, blockchain can disrupt the existing business model.
examples? RentBerry,
• What are the problems with Facebook?
• Privacy, content censorship, plagiarism, advertisements
• Dapps: you can get paid if your content engages users. Since the user
engagement drives the economic activity, the ads aren‘t needed!
• New Age gaming:decentralized games using collectibles
Are our markets decentralized?
Problems with centralized marketplaces
• A centralized company owns the platform, for e.g. ebay, and takes
commission from sales;
• The infrastructure is centralized, and can be hacked;
• The company owning the marketplace can change terms and
conditions (T&Cs) of trade at will;
• You need to rely on third-party payment systems;
• Your personal sensitive data is held by the centralized owner and
they can sell it to third parties.
Decentralized Online Marketplaces
• No middleman controls the trade between buyers and sellers;
• The terms of trade are determined by buyers and sellers, and no
middlemen intervene;
• The terms of trade are open, transparent, and immutable;
• No tampering of transactions is possible;
• Payment between buyers and sellers is direct, no intermediary has any
role to play;
• Transactions are instantaneous, without depending on a third-party;
• The marketplace is global as soon as it‘s up
• It‘s a permanent marketplace that can‘t be destroyed;
• No personal sensitive data is needed.
Blockchain: transforming the marketplace
• Blockchain is a decentralized distributed database, and all nodes are
involved in maintaing the database. Each has a full record of the database.
There’s no central server for hackers to destroy;
• It‘s a peer-to-peer (P2P) network, hence sellers can directly transact with
buyers without intermediaries;
• T&Cs are coded in immutable smart contracts; besides they are transparent;
• Payment process uses cryptocurrencies thus eliminating third-party payment
providers;
• Cryptographic hash functions, data encryption, and blockchain consensus
algorithm make the system secure.
Blockchain in Marketing
• Engaging and Targeting the Right Audience: BitClave
• Ad Fraud Prevention: adChain
• Disrupting Crowdsourcing: Dataeum
• Decentralization of E-Commerce: OpenBazaar
• Disrupting Influencer Marketing: SocialMedia.Market
• https://youtu.be/hYip_Vuv8J0
Give me some Marketing use
cases
Impediments?
• https://www2.deloitte.com/content/dam/Deloitte/se/Documents/ris
k/DI_2019-global-blockchain-survey.pdf
Is Blockchain overhyped?
