Blockchain Technology The Power House of Solution Building and Delivery in Industry 4.0 Era World Blockchain Summit, Moscow Dr. Paritosh Basu, Senior Professor Trescon Global NMIMS School of Business Management, India @paritoshbasu April 26 - 27, 2018
Ackn know owledg ledgement ment The author acknowledges that graphics, freely available through internet, have been used for this presentation with the sole objective of propagating knowledge.
Wh What t is is Mo Mosco scow w Me Meth thod od The MoS oSCo CoW method is a prioritization technique used in management, business analysis, project management, and software development to reach a common understanding with stakeholders on the importance they place for delivery of each requirement it is known as MoSC SCoW prioritization or MoSC SCoW analysis: ▪ Must have ▪ Ought to have ▪ Should have ▪ Could have ▪ Won’t have
The Gigantic Digital Universe Two Observations ▪ 38.95% CAGR of data increase till 2020 – 4.4 ZB in 2013 to 2020 ZB ▪ Only 37% of generated data will be useful if analysed Two Big Qu Questi stions ons ▪ Will Blockchain be able to contribute to decision making if it is used as a overlay on Data Analytics? ▪ Will DLT be able to serve far better causes of Source: Tech Trends, 2017 Deloitte University Press humanity for inclusive growth of Havenots ? Note: One Zettabyte is equal to one billion terabyte
Power of Mind “ We are born into the world of nature, Our second birth is into the world of spirit. But he who with strong body serving mind, Gives up his power to worthy work. ” Bhagvad Gita, Indian Mythology It is power of mind and spirit that will determine success in Industry 4.0 era “The true sign of intelligence is not knowledge, but imagination. ” – Albert Einstein
Humane Dimension Technology does not have morality, emotion, ethics and value generation skill of its own. The technologist have Success of Blockchain will depend on those human qualities of solution builders, leaving least scope for the user to deploy against humanity with an ulterior motive 7 7 Ts Ts for Su Succe cess ss in Techno hnology logy 7 Ps for Shar ared ed Developmen elopment ▪ Technology ▪ People ▪ Talent ▪ Patience ▪ Truth ▪ Passion ▪ Trust ▪ Perseverance ▪ Transparency ▪ Piety ▪ Tenacity ▪ Purity ▪ Timeline ▪ Penance
Humane Dimensions Blockchain will attain ‘Darling of the Mass’ status like ▪ ‘Internet’ if it is adopted and applied with the mindset of universal altruism It should be grounded on the humane foundation of ▪ sustainable shared values Blockchain technologists cannot become just another ▪ Technology-tribe, but should be harbingers of developments shared with mass for inclusive happiness
Break Sovereign Boundaries ▪ www has transcended geographical boundaries, Blockchain will have to transcend sovereign / political boundaries ▪ Blockchain should have its own ism irrespective of globalisation and protectionism ▪ Blockchain must rewrite the inclusive character of #Industry4.0 ▪ Customers must have options for self-initiated executable contract with parties anywhere in the world ▪ Humanity is one and the world is its home. Hence the need of a global Regulatory Body for directional guidance, monitoring ▪ Regulators must have more insight to control through oversight
#BlockchainOfThings ▪ Internet of Things and Blockchain Worldwide 20.4 Bln. connected things will be in use in 2020, as against 8.4 Bln. in 2017 - up 242%. But the centralised model that currently supports the billions of smart devices connected to the IoT devices fails to address several critical risk issues. – Gartner’s Research* Will IoT device like tracking / tamper proofing seals powered by Blockchain be able to eliminate cyber-physical gap and create a transparent and responsible system for logistics management? ▪ Big data and AI’s predictive analysis could dovetail perfectly with automatic execution of smart contracts - Combination of Big Data and Blockchain will enable data analytics from proactive to reactive > predictive analysis ▪ Omnicahnnel delivery with Interoperability between blockchain platforms will add versatility and more user acceptance * Source: https://inves8r.com/2017/11/24/the-blockchain-of-things-why-it-is-a-major-game-changer-for-internet-of-things /
7WH Principle of Solution Building for Value Creation ▪ What are the latent needs / demands of society and humanity ▪ Who are the service providers and target customers ▪ When the solution is to be delivered, updated and upscaled ▪ Where is the universe of customer located and for what value ▪ Whose regulations are to be complied with and for what risks ▪ Whom should the user refer to in case of trouble ▪ Whether any better solution being offered by competitors ▪ How to assess and track users’ delight and ensure sustainability #Destr strupt upt traditional business models and #Bizrupt upt the latest process of service delivery with significant #LegalDis alDisruptions uptions
Blockcha hain in believes s in one e sing ngle le versio sion n of Truth th, and d is built lt on the e found undati tion on of Trust t ? What t you u trust ust is not ot necessaril ssarily y True, and What t is true e is not ot necess ssaril arily y what t you ou Trust st
Converge toward Industry 5.0 Convergence to Industry 5.0 will be faster when each ▪ customer is enabled to personalize his / her need using the same blockchain platform Handle unique elements of each business specific ▪ transaction and not by fit all size straight jacket solutions Minimise value destruction across user-specific applications ▪ Enable the Smart Contract to be self-governing and to handle ▪ specificities of each transaction If a #Startup wants the market lion’s head as the Winning ▪ Trophy do what it has never done and solve customers’ problems it never perceived
Blockchain & Risk-Enabled Performance Management C S y m b a e r C r t y b S e C r e o c n S u e t c u r I t y r r I a t c y t Risk Management is a priority and not an afterthought. Practically nothing is safe
Don’t challenge your limits, limit your challenges
“A vision is not a project report or a plan target. It is an articulation of a desired end result in broader terms” . A. P. J. Abdul Kalam, Ex President of India 15
Thank y you
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