The revolution will not be centralized!

AN INTRODUCTION TO BLOCKCHAIN

TECHNOLOGY

(WITH HINTS OF ENERGY!)

PROGRAM:

22 June 2018

MILAN

0. INTRO

1. What is (not) blockchain?

2. A “trustless” & decentralized transaction model

3. So… what is blockchain?!

4. The key concept of “Mining”

5. Other key concepts & common variations

6. The brave new world of utility tokens

7. Considerations & limitations

8. Outcomes / Lessons for the day

A DECENTRALIZED, DIGITAL, PUBLIC LEDGER

WHAT IS BLOCKCHAIN?

WHAT IS BLOCKCHAIN

(AND WHAT IS NOT) ?

BLOCKCHAIN ≠ BITCOIN

“ONE THING”

A DECENTRALIZED, DIGITAL, PUBLIC LEDGER

WHAT IS BLOCKCHAIN?

WHAT IS NOT BLOCKCHAIN?

WHAT IS BLOCKCHAIN

(AND WHAT IS NOT) ?

• P2P Transactions

• Auditing process of transactions: everyone participates.

• Data cannot be manipulated – verified at real time.

• Aggregated transactions (via trust body)

• Auditing process of transactions: occurs at central network node.

• Centralized data can be manipulated

A “TRUSTLESS”& DECENTRALIZED TRANSACTION MODEL

Source: PwC Report: “Blockchain applications in the energy sector”.

SO… WHAT IS BLOCKCHAIN?

TRANSPARENCY

TRUST

A SHARED DATABASE

P2P TRANSACTIONS

ACCOUNTING OF VALUE

SYMMETRY IN INFORMATION SHARING

THE KEY CONCEPT OF “MINING”

OTHER KEY CONCEPTS & COMMON

VARIATIONS

ANONYMITY

PUBLIC (VS) PRIVATE BLOCKCHAIN

GOVERNANCE/INCENTIVE MODELS

“CODE IS GOD”

IMPLEMENTATION APPROACHES

A BRAVE NEW WORLD: UTILITY

TOKENS & UTILITY PLATFORMS

CROWDFUNDING - ICOs

SHAREHOLDING

NEW BUSINESS & SOCIAL-ECONOMY MODELS

A POTENTIAL GAME-CHANGER FOR VALUE

SHARING/ACCOUNTING

A BRAVE NEW WORLD: UTILITY

TOKENS & UTILITY PLATFORMS

Crypto-currency market capitalization, Jun 2018: USD 280 bln.

THE DARK SIDE OF THE MOON:

ICO-FRENZINESS

1,600 COINS/TOKENS

CONSIDERATIONS & LIMITATIONS

IS IT NECESSARY?

IS IT SCALABLE?

IS IT ENVIRONMENTALLY FRIENDLY?

IS IT NECESSARY?

CONSIDERATIONS & LIMITATIONS

IS IT NECESSARY?

IS IT SCALABLE?

IS IT ENVIRONMENTALLY FRIENDLY?

IS IT SCALABLE/REPLICABLE?

WHICH SECTOR IS IT APPLIED ON?

REGULATORY ISSUES (OF ALL SORTS)?

IS IT TECHNICALLY FEASIBLE?

CONSIDERATIONS & LIMITATIONS

IS IT NECESSARY?

IS IT SCALABLE?

IS IT ENVIRONMENTALLY FRIENDLY?

IS IT SECURE?

1. Endpoint Vulnerabilities2. Vendor Risks3. Untested at Full Scale4. Lack of Standards and Regulation5. Untested Code

IS IT ENVIRONMENTALLY

FRIENDLY?

Source: Bloomberg New Energy Finance; “Bitcoin/Ethereum Energy Consumption Index”; 15 Sep 2017.

OUTCOMES / LESSONS

17

MARKOS ROMANOS

markos@Klenergy-tech.com

+45 2035 3002

@klenergy-tech