In his presentation at Blockchain Vlaanderen, Sam Wouters explained why the Blockchain exists, how it works and what can be done with it. Interested in learning more? Check out my website or book me as a speaker: http://samwouters.com/ Twitter: https://twitter.com/SDWouters LinkedIn: https://www.linkedin.com/in/samwouters

1. @sdwouters
THE Blockchain
WHY HOW WHAT

2. @sdwouters
Into Bitcoin since 2013
Digital Transformation Consultant
at Duval Union Consulting
Sam Wouters

3. @sdwouters
One of many
disruptIVE
PLAYERS

4. @sdwouters
Who has heard of Bitcoin before today?

5. @sdwouters
“bitcoin is
digital money”

6. @sdwouters
Positive image?
Who has heard of Bitcoin before today?

7. @sdwouters
Negative image?Positive image?
Who has heard of Bitcoin before today?

8. @sdwouters
Who fundamentally
understands Bitcoin?
Negative image?Positive image?
Who has heard of Bitcoin before today?

9. @sdwouters
Media that predicted the death of Bitcoin
bitcoinobituaries.com

10. @sdwouters
Who has heard of Bitcoin before today?
Negative image?Positive image?
Who owns bitcoins?
Who fundamentally
understands Bitcoin?

11. @sdwouters
“We’re trying to make laws for
something we don’t understand”

12. @sdwouters
Banks try to skip learning about Bitcoin

13. @sdwouters
Nearly all of them are investing in
Bitcoin’s technology, the Blockchain

14. @sdwouters
WHY
does the
Blockchain
exist?

15. @sdwouters
HOW
does it work?
WHY
does the
Blockchain
exist?

16. @sdwouters
WHAT
can we do with it?
HOW
does it work?
WHY
does the
Blockchain
exist?

17. @sdwouters
WHY
does the
Blockchain
exist?

18. @sdwouters
How it began in 2008: a financial system
without “trusted” third parties
bitcoin.org/bitcoin.pdf

19. @sdwouters
Banks built the most complex system in the world
*Insert image of global financial system*

20. @sdwouters
Why do bank transfers take days?

21. @sdwouters
Why can’t we use microtransactions?

22. Financial innovation is held back by rules and regulations

23. But this is innovation!

24. @sdwouters
Say that to the 40% unbanked adults worldwide…

25. And to the people who pay 5-20% money transfer fees!

26. Yet we can do this?

27. @sdwouters
The Blockchain is about
more than global payments

28. @sdwouters
We have more debt than we can ever repay

29. @sdwouters
Governments struggle to track expenses

30. @sdwouters
We have unprecedented money printing
research.stlouisfed.org/fred2/series/AMBSL

31. The money in your bank loses value
Inflation Interest>

32. @sdwouters
If Finance is so messed up
why don’t we fix it?

33. @sdwouters
Governments are not in charge in the financial world
Governments
Corporates
Banks
National central banks
International central banks
Central bank of central banks

34. @sdwouters
Despite regulation, banks won’t stop ‘misbehaving’
cnbc.com/2015/10/30/misbehaving-banks-have-now-paid-204b-in-fines.html

35. Resulting in "cosy" relationships between
financial businesses and regulators.
We are fighting a never ending flood

36. @sdwouters
HOW
does it work?
WHY
does the
Blockchain
exist?

37. Transactions Security
The Blockchain works fundamentally different

38. Transactions Security

39. @sdwouters
Money is sent directly between two parties

40. @sdwouters
Money is sent directly between two parties

41. @sdwouters
THE BLOCKCHAIN
records who owns what, and when

42. @sdwouters
Everyone can participate

43. @sdwouters
Governments and banks dislike…
because they have less control
over us. They can't track what
we do with it, so people can use
it for illegal activities.
CASH

44. @sdwouters
Governments and banks dislike…
because they have less control
over us. They can't track what
we do with it, so people can use
it for illegal activities.
CASH
because they have no control
over us. They can however track
exactly what we do with it.
BITCOIN

45. @sdwouters
Anyone can see where a transaction
is sent to and where it came from

46. @sdwouters
What criminal leaves permanent evidence?

47. @sdwouters
Digital currencies lowest risk in money laundering

48. @sdwouters
Transactions are synchronised through the network

49. @sdwouters
Every X minutes, they are permanently
recorded in a new block in the blockchain
…

50. @sdwouters
Nobody can manipulate it

51. Transactions Security

52. Problems Solutions
Central point of failure Decentralized network
Expensive to secure Shared security cost
Trust who is in charge Trust a fixed set of rules
Centralized
All organizations

53. Problems Solutions
Central point of failure Decentralized network
Expensive to secure Shared security cost
Trust who is in charge Trust a fixed set of rules
Centralized Decentralized
All organizations The Internet & Bitcoin

54. @sdwouters
An open blockchain is secured by computing power
from people and companies all over the world

55. @sdwouters
In return for their efforts, these “miners”
earn Digital currency and tiny transaction fees

56. The miners and nodes verify the transactions
and add them to the next block in the Blockchain

57. @sdwouters
When you change a transaction in the past
the link to that block changes as well

58. @sdwouters
The network will know that your version
has been messed with and reject it

59. @sdwouters
You need to create a longer blockchain
than the entire network combined

60. @sdwouters
The Bitcoin network is over 25.000 times stronger
than the top 500 supercomputers in the world

61. Problems Solutions
Central point of failure Decentralized network
Expensive to secure Shared security cost
Trust who is in charge Trust a fixed set of rules
Decentralized
Who is in charge of the network/computers?

62. @sdwouters
Improvements can be proposed by
developers around the world
bitcoin.org/bitcoin.pdf …
github.com/bitcoin/bips

63. @sdwouters
If the majority of the network agrees,
the code can be changed / UPDATED

64. @sdwouters
WHAT
can we do with it?
HOW
does it work?
WHY
does the
blockchain
exist?

65. @sdwouters
Sending money
1 BTC

66. @sdwouters
Sending money
0.00000001 BTC1 BTC

67. Money is the
tip of the iceberg

68. @sdwouters
Logical evolution
INTERNET
Transfer information
BLOCKCHAIN
Transfer ownership
TEXT IMAGES PROGRAMS VIDEOS
MONEY CONTRACTS PATENTS ASSETS

69. @sdwouters
Everledger stores unique info and ownership
of diamonds on the Bitcoin blockchain
everledger.io

70. @sdwouters
“The Blockchain could disrupt everything”

71. @sdwouters
THE BLOCKCHAIN IS AN
INEFFICIENT DATABASE

72. @sdwouters
Better sharing of data?
WHY IS a Blockchain
Amazing TO USE?

73. @sdwouters
3
Censorship
resistance
2
Immutability
WHY IS a Blockchain
Amazing TO USE?
Decentralization
4
1
Open
Innovation
5
Open
Access

74. @sdwouters
3
Censorship
resistance
2
Immutability
5
Open
Access
Decentralization
4
1
Open
Innovation
Banks/governments won’t
replicate the Blockchain

75. @sdwouters
Should we have forbidden these too
because criminals can use them?
Technology always reflects society

76. @sdwouters
Remember them, they outweigh the bad minority

77. @sdwouters
But all these banks are investing in BLOCKCHAINS!

78. @sdwouters
They are no longer trying to build a “private blockchain”

79. @sdwouters
Some still try to build private blockchains
Controlled Innovation
Controlled Access
(Auditable) Privacy
High Transaction Capacity
No Volatile Cryptocurrency
No Mining Security Costs

80. @sdwouters
The Open Blockchain will create the most value

81. @sdwouters
Bitcoin is driven by the same force that grew
the Internet to billions of users: Open innovation

82. @sdwouters
Don’t skip learning about it

83. If Bitcoin is so great,
why isn’t everyone using it?

84. ‣ Bitcoin is only 7 years old, it
still needs a lot of development.
‣ This has never been tried
before and it is about money,
not information.
‣ Bitcoin is like the Internet in
the 90s:
‣ People don't get it.
‣ It looks ugly.
‣ We have few use cases.
‣ People don’t see how it will
change the world.
‣ Those who are disrupted by it
will do everything to stop it.
‣ Mainstream 10 years later
‣ Mass adoption 20 years later

85. @sdwouters
Perhaps you think you don’t really need it

86. @sdwouters
But the world does

87. Thanks!
Want to learn more?
WWW
@sdwouters
sam.wouters@duvalunion.com
samwouters.com