E-Business: Blockchain a New

Technology
Mahesh Shirole
VJTI, Mumbai
Agenda
 Blockchain Technology
 Bitcoin
 Blockchain Smart Contracts
 Block Chain Use Cases
what’s next on the plate for a
traditional e-Commerce business?
 The answer is relatively simple and straight-forward—
BLOCKCHAIN
 The eCommerce industry has disrupted the way we shop &
live, and blockchain is on its path to disrupt eCommerce
 Blockchain technology could be an e-commerce monopoly
breaker
 The power of giants such as Amazon, eBay and Alibaba lies in
centralization and data superiority
 Blockchain is about decentralization and shifting data
ownership back to the user, thus completely changing the
way business is done.
Blockchain Technology
 “A blockchain is a distributed database of records of all transactions or
digital events, which have been executed and shared cryptographically
on network of participating parties using peer-to-peer
communication”

 Blockchain Technology (BCT) is a combination of different

technologies such as
 public/private key cryptography,
 distributed databases,
 cryptographic hash functions,
 consensus algorithm, and
 decentralized processing
Why Blockchain matters to business
people?

 With blockchains, many existing business processes in many

industries can be streamlined to save time, save money, and
reduce risk.
 Every transaction that involved any value required a
middleman, that created friction, delay, and expense—and a
central point of failure that hackers could attack
 Even if the traders don’t know or trust each other, they can
trust the technology to record the transaction in a tamper-
proof way
BlockChain Technology
• It could potentially impact all sectors of the
economy
• It has been employed in different sectors of the
industry like
• financial,
• energy,
• logistics to supply chain management,
• health sector,
• gaming industry, and
• online gambling
Bitcoin
 A distributed, decentralized digital currency system
 Released by Satoshi Nakamoto 2008
 Effectively a bank run by an ad hoc network
 Digital checks
 A distributed transaction log
Security in Bitcoin
 Authentication
 Am I paying the right person? Not some other impersonator?
 Public Key Crypto: Digital Signatures
 Integrity
 Is the coin double-spent?
 Can an attacker reverse or change transactions?
 Digital Signatures and Cryptographic Hash
 Availability
 Can I make a transaction anytime I want?
 Broadcast messages to the P2P network
 Confidentiality
 Are my transactions private? Anonymous?
 Pseudonymity
Public Blockchain Networks
 In Public Blockchain, Ledgers are visible to everyone on the
network and anyone can verify the transaction
A Typical Layered Architecture of
Crypto-currency
Blockchain Smart Contracts
Block Chain Use Cases
 Questions ?