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Blockchain Technology Presentation Notes

Blockchain technology is a decentralized ledger that records transactions across a network of computers. It works by organizing data into blocks that contain a cryptographic hash of the previous block, creating a chain. Miners verify transactions and receive rewards. Blocks store sender, receiver, amount for transactions like Bitcoin. Blockchain allows for more efficient, secure, and fast money transfer. It also enables enhanced data security and supply chain transparency. While it has potential, issues around energy use, job loss, and private key management must still be addressed for widespread adoption.

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Bilal Ahmed
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99 views

Blockchain Technology Presentation Notes

Blockchain technology is a decentralized ledger that records transactions across a network of computers. It works by organizing data into blocks that contain a cryptographic hash of the previous block, creating a chain. Miners verify transactions and receive rewards. Blocks store sender, receiver, amount for transactions like Bitcoin. Blockchain allows for more efficient, secure, and fast money transfer. It also enables enhanced data security and supply chain transparency. While it has potential, issues around energy use, job loss, and private key management must still be addressed for widespread adoption.

Uploaded by

Bilal Ahmed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Title Slide: Today I am going to talk about Blockchain technology.

Slide 1: Blockchain technology is a decentralized technology that records transactions and


data. Blockchain is a distributed ledger technology, which means transactions are recorded in
multiple places at the same time. Data is put in something called a block then there are people
who verify the transactions and receive money. These people are known as miners and this
process is known as mining. A block contains some data, hash of a block and hash of previous
block. In bitcoin the data stored in the block is the sender, receiver and the amount of coins. The
data depends on what the blockchain is getting used for. A hash is a set of numbers and letters
that are unique to that transaction. This can be compared to being the fingerprint of the block.
The third thing inside a block is the hash of the previous block, creating a chain and in theory
creating an impenetrable system.

Slide 2: Blockchain allows for money to be transacted faster, more efficiently, and more
securely and many banks are working on adopting blockchain technology. Blockchain’s
decentralization and structure make it very hard to hack. For every block submitted to the
blockchain, it also contains data from the previous block, so if there is something wrong with
one block the next block can catch it. Communications can also be affected by blockchain as it
can provide privacy and can allow for people to communicate and transact more freely because
of no centralized authority.

Slide 3: The conventional financial system is not suited for charities. Bank fees eat up
donations for both the donor and the charity. For a charitable transaction using visa it will cost
10 cents plus 1.35% of the transaction. Currency fluctuations raise costs even more so less
money reaches people in need reducing efficiency. Money sent and managed isn’t as
transparent as blockchain. This creates potential for mismanagement and reduced
accountability. Not just this but sometimes it can take weeks for the charity to actually receive
the money. All of this can increase the potential for fraud and corruption. Enter Disberse.
Disberse was founded by Ben Joakim and Paul Currion. Disberse is a small electronic money
institution built on the blockchain, to help charities replace conventional electronic money
institutions. Though Disberse is still in the early stages of development and is raising money
from investors.

Slide 4: Blockchain’s decentralization allows for enhanced data security since data is not
being stored in centralized storage units but across blockchain’s network. Supply chain
complexity can also be solved with blockchain, because it can improve asset recording,
tracking, assigning, linking, sharing, security, and offer transparency. Voting problems can also
be solved with blockchain because when someone votes it can be saved and tracked in real
time and can ensure voter anonymity.

Slide 5: If blockchain is widely adopted then miners will need more facilities to mine the
currency which will take more energy hurting the environment, and not attract other miners as
mining just won’t be worth it financially. Not just this but in the retail and wholesale industries
Blockchain is projected to replace 22 million jobs. Private keys are what creates a public
key(your online signature) so you do transactions. Unfortunately if you forget your password to
your private key the cryptographic value is almost unrecoverable.

Slide 6: The Past - In 2008 the financial systems and major banks of the world crashed
causing a devastating recession. A mysterious man called Satoshi Nakamoto created bitcoin,
defying the conventional financial system. He created bitcoin on something called the
blockchain, in the next decade this newly created technology will take over the world.

The Present - There are many crypto currencies built on blockchain technology but now the
advantages of Blockchain are realized. Many companies are researching how blockchain can
be employed in their day to day business operations.

The Future - There are 50 or so industries starting to deploy blockchain technology including
major banks in the world. Still, many are just prototype ideas and are not yet ready for
production. Experimentation with this technology will increase dramatically.

My Opinion:

I think that blockchain technology is really useful and should be used more often because of
their ability to solve problems with data storage and how it is tamper proof. Blockchain has the
potential to solve the issue of trust between our financial institutions and us. This is because of
the increased transparency. This is why I think blockchain technology is useful and helpful.

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