Bitcoin, Blockchain and the Internet of Value Veronika Kütt Frankfurt School Blockchain Center E-Mail: veronika.kuett@fs-blockchain.de Internet: www.fs-blockchain.de
About FSBC
Our Portfolio Research 1 Foster understanding of blockchain technology and their business potential for a variety of stakeholders. Education 2 Educate executives and students about blockchain technology. Prototypes 3 Develop prototypes to evaluate blockchain concepts The FSBC focuses on the following sectors: and assess applicability in existing business banking, mobility, industry 4.0, internet of things, processes. crypto assets, initial coin offerings Community 4 Build a strong community of blockchain experts, corporates, industry experts and entrepreneurial talents. Start-ups 5 Supporting and cooperating with start-ups on blockchain and DLT related topics. 2
Our Partners Supported by: 3
Blockchain & The Internet of Value
Thought “ Blockchain will do to the financial system what the Internet did to media ” 6
What is it the internet did to media?
Which problem does blockchain actually solve?
Double-spend problem How can we ensure digital value is not being spent twice? 9
Solution today: Trusted intermediaries 10
Bitcoin
Bitcoin: A Peer-to-Peer Electronic Cash System The birth of a libertarian-thought-driven cash system 14
Bitcoin: A Peer-to-Peer Electronic Cash System The building blocks of Bitcoin Game theory Strategic interaction between rational decision-makers 15
Bitcoin: A Peer-to-Peer Electronic Cash System The building blocks of Bitcoin Game theory Strategic interaction between rational decision-makers Decentralization Data is written down by everyone 16
Global distribution of Bitcoin nodes Source: https://bitnodes.earn.com/ 17
Bitcoin: A Peer-to-Peer Electronic Cash System The building blocks of Bitcoin Game theory Consensus mechanism Strategic interaction between How do we make sure rational decision-makers everyone is writing down the same data? Decentralization Data is written down by everyone 18
A public ledger – the Bitcoin blockchain 19
Bitcoin: A Peer-to-Peer Electronic Cash System The building blocks of Bitcoin Game theory Consensus mechanism Strategic interaction between How do we make sure rational decision-makers everyone is writing down the same data? Decentralization Economic incentives Data is written down by Reward for securing the everyone network 20
the result financial sovereignty
Future. The Internet of Value Value will be transferred as quickly and seamlessly as information 22
The information superhighway (1994) Source: Youtube (2018)
(r)evolution ahead
Research Fellow Veronika Kütt veronikakuett Mathematician +49 151 416 415 48 Blockchain Center Veronika.kuett@fs-blockchain.de Frankfurt School of Finance & Management www.fs-blockchain.de
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