Block chain Technology

1. BlockchainTechnology
Andrew Adamson

2. What is Blockchain?
Introduced in 2008 with Bitcoin.
An open decentralized ledger
Imagine a continuously updated
spreadsheet shared by everyone.

3. Advantages in Business
Reduce cost of transactions by eliminating third
party verifiers.
Decentralized
No single point of failure.
Transparent
Cannot be corrupted.
Every transaction has a unique signature.
Immense interaction with little friction.

4. FutureUses
Stock market trading
Identification systems
Multiple party transactions
“Smart Contracts”
File storage
Land title registrations

5. Revolutionizing the Economy
Needs large scale adaptation
“Bitcoin has the same character a fax machine had.A single
fax machine is a doorstop.The world where everyone has a
fax machine is an immensely valuable thing.”
Larry Summers, Former US Secretary of theTreasury
Comparable to email
Still decades away

6. Sources
 https://www.economist.com/news/briefing/21677228-technology-
behind-bitcoin-lets-people-who-do-not-know-or-trust-each-
other-build-dependable
 https://hbr.org/2017/01/the-truth-about-blockchain