BLOCKCHAIN 101

Blockchain is a database and technology that facilitates an exchange of value within a trustless network, without intermediaries.  

WHO AM IJeff BrandtAKA “Mad Mobile Scientist”

Jeff@blackStarLab.com

BLOCKCHAIN, COINED BY THE INFAMOUS BITCOIN FINANCIAL TECHNOLOGY• What we are talking about

today is Distributed Ledgers • Ledgers because they can

be used for storing transactions such as debits and credit in financial application such as BitCoin.

THE NAME BLOCKCHAIN; THE VISUAL EXPLANATION OF A STEEL CHAIN WITH LINKS

• Instead of links there are chains of blocks, which are connected building a linear chain or ledger.  • Once a block is placed on

the chain it cannot be removed, same as a longitudinal ledger and record.    

IT IS A DATABASE - HOW IT WORKSNew Transaction

Block 4

Block 3

Block 2

Block 1

Blockchain

• Consensus• Decentralize

d Data• Secure Data• Peer-to-peer

SECURITY•  Signed immutable records/blocks - PKI signed  •  Robust Security, PKI encryption• Build in auditing • Nonrepudiation• Distributed DB• Transparent• No Single point of failure• Trust Layer for the Internet

Illustration courtesy of IBM.

NOT FOR ALL SOLUTIONS

Blockchain is a public ledger, however permission solutions are available as digital ledgers

SMART CONTRACTS

Smart Contracts – Executable software that is stored in a database that executes when a specific State and Event occurs.

Blockchain or Distributed Ledgers are not a panacea, However…

Simple, Robust, Transparent

Thanks!Jeff Brandt

AKA “Mad Mobile Scientist”

Jeff@blackStarLab.com@jeffbrandt