[kictanet] BLOCKCHAINS - Get in the Conversation and Perhaps Conversion..Digital Currency

[Wangari Kabiru]

Happy Monday!

Pray you are well.

Today I have learnt on Blockchains and I am delighted to share of. Learnt from Ashis Gadnis - BANQUAPP.COM and Ric Shreves.

Any persons in this community  in the field?

The last time this discussion was here it was CBK and Bitcoin rundowns and the Ministry. Globally a lot is happening.

The discussion is beyond financial services into data management, humanitarian data and refugee transfers services...and more.

This community needs to have sharp deliberations on this at this year's IGF.

<<< start notes>>>

BTC4D @ ICT4D on 16/05/2016

'The blockchain is the new black..'

First overlay is the web
Second is blockchain - trust layer
Challenge old ways, disrupt governance and centralised authority for enforcing transactions

What is;
A block chain is a distributed ledger via peer-to-peer 
Chain of digital signatures
Protocal for exchanging value over internet without an intermediary
A technology that allows people to exchange trust over transactions - Bank of England

Critical elements in old times is trust.

A block chain is another type of database for recording transactions - one that is copied to all computers
Blockchain can be more than digital currency eg Asset tokenisation - transaction metadata used for transactions

Structure;
Data stored in structures called blocks.

Elements; Header, Content - validated list of assets

15M - No. of Bitcoins in circulation
20B - Maximum no.of Bitcoins (2140), algorithm - manage inflation (unlike Ksh, $)
$56M - 24hour Turnover of Bitcoins
$746 M - Ethirium, 2nd Digital Currency

Volatility of Bitcoin 1.24%
2013 +
2014 -
2015 +

Other Blockchains;
Best known are public; Litecoin, BitShares, Dogecoin, Namecoin.
Others are private

Types; unpermissioned, permissioned

Newer ones;
Ethereum, Microsoft BaaS - Blockchain as a Service

Blockchain can be as a;
Platform - build others on it
Software

What is happening;
R3 working with 40+ banks
Visa working on an independent proof of concept
Citi has 3 blockchains and own digital currency (Citicoin)
SEC, USA Stock Exchange

The players you should know?
R3
Hyperledger
Ethereum - an app platform
Microsoft Azure BaaS - flexible
Ripple
Bitcoin is what is well known

<<< end notes>>>

Be blessed.

Regards/Wangari
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