Demo Day on the Hill
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D E M O D A Y O N T H E H I L L i n c o n j u n c t i o n w i t h t h e C o n g r e s s i o n a l B l o c k c h a i n C a u c u s G B B C O U N C I L . O R G @GBBCOUNCIL GLOBAL BLOCKCHAIN BUSINESS COUNCIL T A B L E O F C O N T E N T S DEMO DAY BLOCKCHAIN PRIMER BLOCKCHAIN PRIMER 1 USE CASES FINANCIAL SERVICES | EY | UNITED KINGDOM 2-3 BUSINESS PROCESSES | SALESFORCE | UNITED STATES 4-5 SOCIAL IMPACT | DIGINEX | HONG KONG 6-7 MEDIA | ORBS | ISRAEL 8-9 ENERGY | POWER LEDGER | AUSTRALIA 10-11 GOVERNMENT | BITFURY | NETHERLANDS 12-13 IDENTITY | ACCENTURE | IRELAND 14-15 SUPPLY CHAIN | EVERLEDGER | UNITED KINGDOM 16-17 MODERATORS & CONGRESSIONAL REMARKS (BIOS) THE HONORABLE TOM COTTON (AR) 18 THE HONORABLE DAVID SCHWEIKERT (AZ-6) 18 THE HONORABLE TOM EMMER (MN-06) 19 THE HONORABLE TREY HOLLINGSWORTH (IN-09) 19 TOMICAH TILLEMANN, FOUNDER & DIRECTOR, BLOCKCHAIN TRUST ACCELERATOR, NEW AMERICA 20 SANDRA RO, CEO, GLOBAL BLOCKCHAIN BUSINESS COUNCIL 21 STACI WARDEN, EXECUTIVE DIRECTOR, GLOBAL MARKETS DEVELOPMENT, MILKEN INSTITUTE 22 MERCINA TILLEMANN-DICK, COO, GLOBAL BLOCKCHAIN BUSINESS COUNCIL 23 OVERVIEW THE CONGRESSIONAL BLOCKCHAIN CAUCUS 24 THE GLOBAL BLOCKCHAIN BUSINESS COUNCIL (GBBC) 24 GENEVA | WASHINGTON, D.C. | NEW YORK CITY GBBCOUNCIL.ORG @GBBCOUNCIL GLOBAL BLOCKCHAIN BUSINESS COUNCIL B L O C K C H A I N P R I M E R HISTORY OF BLOCKCHAIN Blockchain is a distributed ledger technology that facilitates the transfer of assets digitally with enhanced security and transparency. The first blockchain (now known as the Bitcoin Blockchain) was conceived in 2008 in the wake of the global financial crisis. Since then, blockchain technology has evolved rapidly and is changing the way governments, organizations, businesses, and individuals operate in our increasingly interconnected and digital world. DIGITAL TOKENS (BITCOIN) VS. BLOCKCHAIN Bitcoin (with a capital “B”) is the oldest public blockchain. The digital currency “bitcoin” (with a lowercase “b”) moves on the Bitcoin blockchain. While Bitcoin uses blockchain technology to operate, other blockchains are not reliant on Bitcoin. Blockchains can take many different forms and are the underlying technology for other digital currencies/tokens such as Ether, Emercoin, Litecoin, etc. While blockchain can be used to move cryptocurrencies, the technology can also be employed to move any digital asset — including land titles, identity information, supply chain manifests, and health records. A blockchain can be either public (i.e. Bitcoin) or private (i.e. Hyperledger Fabric) and becomes increasingly secure over time and through broadened use. HOW DOES IT WORK? While each blockchain works differently, we will focus on the oldest and most popular blockchain: Bitcoin. Each transaction on the Bitcoin blockchain is packaged into a group of transactions called a “block.” Each block must be mathematically authenticated before being linked to the chain of already-verified blocks. Before being verified, computers securing and updating the network – known as “miners” – compete to solve a complex mathematical equation for the block. Once the solution is found and the block is considered “solved”, the successful miner receives a reward and the block is assigned a unique ID. The winning miner then broadcasts its success to the rest of the miners on the network, which then verify that the information is correct and add the block to the blockchain This process makes the Bitcoin Blockchain extremely secure, but there are limitations. As the number of miners keeps growing, the complexity of the mathematical equations needed to secure the block increases. This co-relation augments energy consumption due to the higher computing power required to solve equations. On the other hand, transactions can be slow depending on the number of transactions and miners on a given day. Other blockchains have prioritized speed and scalability while still maintaining the inherent security that comes with blockchain architecture. GENEVA | WASHINGTON, D.C. | NEW YORK CITY GBBCOUNCIL.ORG 1 U S E C A S E S WWW.EY.COM USE CASE INDUSTRY: PROFESSIONAL SERVICES HEADQUARTERS: UNITED KINGDOM As industries converge, they create new value and opportunities for business. EY helps organizations identify and capitalize on these new opportunities. EY is a global leader in assurance, tax, transaction, and advisory services. NIGHTFALL: PRIVATE TRANSACTIONS ON PUBLIC BLOCKCHAINS USING ZERO- KNOWLEDGE PROOFS Public blockchains like Ethereum and Bitcoin, which are the most widely used and accessible blockchain systems, do not in their native state support private transactions; blockchains, far from being anonymous, are in fact highly transparent. While individual users may enjoy a level of privacy as one small entry in a “sea” of transactions, for enterprise users, this lack of privacy makes adoption of public blockchains impractical for most applications: modern analytical tools would allow competitors to sift through the blockchain and discern business operations and strategy. Private blockchains were created to provide enterprise users with a blockchain-like architecture while increasing privacy, but these systems are not decentralized and, consequently, they lack the network effects, scale, and immutability of large public blockchains. EY does not believe that centralized blockchains serve the public interest or are ever likely to achieve significant network effects. Consequently, EY created Nightfall to make it possible for enterprise users to transact securely and privately on public blockchains. Nightfall makes use of a mathematical innovation called a Zero Knowledge Proof (ZKP), which allows users to prove certain items are true without revealing the underlying information. This allows for provably secure, private transactions on public networks. While ZKPs have been available to consumers through specialized cryptocurrency transactions for some time, Nightfall is the first solution that allows any asset or token to be transferred in complete privacy and is designed for enterprise adoption. GENEVA | WASHINGTON, D.C. | NEW YORK CITY GBBCOUNCIL.ORG 2 EY has made Nightfall available as a public domain application to anyone who wants to use it. The system is designed to support privacy with full regulatory compliance. Transaction data from Nightfall users can be integrated into EY’s Blockchain Analyzer for financial statement audits and transaction analytics. Users can also implement both white lists and black lists for allowed and blocked addresses to comply with regulatory requirements such as Know Your Customer (KYC) and Anti-Money-Laundering (AML) rules. EXTERNAL LINKS NIGHTFALL VIDEO: HTTP://BIT.LY/EY_NIGHTFALL_VIDEO EY OPSCHAIN VIDEO: HTTP://BIT.LY/OPSCHAIN_VIDEO EY BLOCKCHAIN ANALYZER VIDEO: HTTP://BIT.LY/EY_BCA_VIDEO EY BLOCKCHAIN HOME PAGE: HTTPS://WWW.EY.COM/EN_GL/BLOCKCHAIN NIGHTFALL BUSINESS INTRODUCTION: HTTPS://BIT.LY/2O3SIUJ MATH EXPLAINER: HTTP://BIT.LY/NIGHTFALL_MATH NITGHTFALL CODE REPO: HTTPS://GITHUB.COM/EYBLOCKCHAIN/NIGHTFALL PRESENTED BY PAUL BRODY, GLOBAL BLOCKCHAIN LEADER, EY Paul is responsible for driving EY’s initiatives and investments in blockchain worldwide. With blockchain services in the Americas, Europe, and Asia, Paul’s team works with service lines to build a portfolio of services across tax, audit, and business transformation. He has extensive experience in the areas of IoT, supply chain and operations and business strategy, developed over 20 years at multiple start-ups, McKinsey, and IBM. Paul has a BA in Economics and a certificate in African Studies from Princeton University. GENEVA | WASHINGTON, D.C. | NEW YORK CITY GBBCOUNCIL.ORG 3 WWW.SALESFORCE.COM USE CASE INDUSTRY: BUSINESS PROCESSES HEADQUARTER: UNITED STATES Salesforce is a customer relationship management (CRM) solution that brings companies and customers together. It's one integrated CRM platform that gives all your departments - including marketing, sales, commerce, and service — a single, shared view of every customer. SALESFORCE BLOCKCHAIN As companies develop more digital systems and are in possession of more data, interoperability of systems and the ability to securely share data becomes important. Existing centralized ledgers and databases make it difficult and time-consuming for companies to safely share information with partners. To address these growing issues, Salesforce developed Salesforce Blockchain, a platform that allows companies to harness and share data in an ever-evolving network of partners and third parties, all without sacrificing trust and without code, enabling companies to easily and quickly stand up these networks. The blockchain tracks and authenticates data that is shared between companies. This system can be used for advanced, secure, and fast asset management and workflows. In this session, Salesforce will highlight how blockchain is applied to education to transform the student experience, enabling students to easily transfer between institutions and to carry with them a lifelong transcript of learning. The 21st-century economy requires that businesses develop innovative new ways to work together. As workflows and data sets become larger and more complex, it is crucial that companies have an effective platform that facilitates sharing without jeopardizing security. Blockchain technology is already being used by some of the largest corporations in the world to create efficiencies while protecting valuable and sensitive data. GENEVA | WASHINGTON, D.C. | NEW YORK CITY GBBCOUNCIL.ORG 4 PRESENTED BY ADAM CAPLAN, SENIOR