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Which blockchain ? The future at a crossroad

Explore the dynamics of blockchain technology at a crossroad, examining keys, transactions, consensus algorithms, and the disruptive potential of open, public ledgers. Delve into the debates surrounding private versus public blockchains, decentralized control, and the race to shape Web 3.0. Consider the implications for industries built on centralized trust models and how the rise of public blockchains could reshape the internet landscape. Discover the importance of research, experimentation, and fostering knowledge sharing in navigating the evolving blockchain ecosystem.

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Which blockchain ? The future at a crossroad

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  1. Whichblockchain?The future at a crossroad Antonio Sassano Roma 12 Dicembre, 2017

  2. The Distributed Ledger (BlockChain) Private KeyA Public KeyA A Transaction 3 Transaction 2 Transactionn Transactionn Transactionn Transaction 2 Transaction 1 Transaction 2 Transaction 2 Transaction 1 Transaction 1 Transaction 1 Transaction 4 Transaction Signed by A Private KeyB B Public KeyB • Signed & ReadableTransactions (CryptoSignature) • Betweenanonymous «entities»: Humans or Machines • A transactioncan be: • the effect of an executable code (Smart Contract) • the transfer of a cryptocurrency • the trade of anyimmaterial asset (e.g. spectrum) BLOCK k+3 BLOCK k BLOCK BLOCK k+1 BLOCK k+2 BLOCK • A ConsensusAlgorithmvalidates the Block • WhichBlockis the next one? • Proof of Work: Computer power decides • Proof of Stake: Assets «atstake» decide • Algorand: FBA, Sortition and .. Mathematics • The «chain» of transactionsis«immutable» and «tamperproof» • Everybodycan read and write on the blockchain (Public) • No Centralized Trust Authority«certifies» the transactions • Highly Secureby design (Bitcoinas «showcase») Shared and verifiable by all stakeholders Thisis the Open, Public, Permissionless, Borderless, Distributed Ledger SeminariBordoniBlockChain - 25 Settembre, 2018

  3. The main takeaway The Open, Public, Permissionless, Borderless, Distributed Ledger is (can be) totally disruptive for ALL Central Trust BasedIndustries SeminariBordoniBlockChain - 25 Settembre, 2018

  4. (Only) Public BlockChains are Trustable and Secure - Only in the Public BlockChainALL stakeholders decide - Trust and Security High «by design». Efficiencyneedsresearch (Algorand) - Ifsome stakeholders «do not decide» wehave a Private BlockChain High «by design» (ConsensusAlgorithm) High «by design» (Bitcoinexample) Low (now!) All Stakeholders + Crypto + Math Not a BlockChain Low Low High Consortium (Private BC) Wehave a limited trust In Central Authorities • Single Point of Failure • Denial of Service • … HackedEveryday Dictators are Efficient Very Low Very Low Centralized Very High Trust of the Stakeholders (Cyber)Security Consensus RedDecide GreenOnlyStakeholders Efficiency SeminariBordoniBlockChain - 25 Settembre, 2018

  5. The race to shape Web 3.0 is on Web 2.0non-interoperable silos (platforms) APPS CLOUD Platforms Internet Protocol «Lean» Open Protocol Internet Protocol DAPPS Web 3.0 PrivateBlockChain ORACLIZE CORDITE Private BlockChains • Nothing«really» changes • Central Control and Silos • Data to Dapps and Platforms • In OTT .. We Trust • No interoperability • Efficiency«for free» (no research) CLOUD Platforms SeminariBordoniBlockChain - 25 Settembre, 2018

  6. … and is an information war • Banks + Mgmt Cons + Tech • BitcoinBlockChain? BAD! • Why? No Trust, Slow and … • … anyone can join / validate! • Banks + Mgmt Cons + Tech • Hyperledger?: Isolated silos ! • Corda? SameasEthereumbut ..«Right design for enterprises» SeminariBordoniBlockChain - 25 Settembre, 2018

  7. The «new beast» is the Public BlockChain Web 2.0 non-interoperable silos (platforms) APPS CLOUD Platforms Internet Protocol Web 3.0 PublicBlockChain DAPPS • Decentalised Cloud (IFPS) • Decentralised Control • Dataowned by producer • «FatProtocol» paradigm • Tokens movevaluedownward • Democracy «by design» BITCOIN STREAMR BANCOR BRAVE + BAT Public BlockChain EOS.IO ALGORAND Internet Protocol SeminariBordoniBlockChain - 25 Settembre, 2018

  8. Whowillprevail? • The History of Internet: • The dream: A resilient network without a C&C Center • The (once) Big PlatformsAttempt (’80-’90) «We are the secure, fast and efficient network»: • DNA (DECNet Internet 17k Nodes in 1989) • SNA (IBM), DSA (Honeywell) • TCP/IP and the WWWmade all of them obsolete! • Here we are again: • The dream: A resilient «book of transactions» with no Central Trust • The Big PlatformsAttempt: Private BlockChain • But can Notaries, Bank, Insurance, Administrations, OTT, …. Intermediaries in general survive in a Distributed World ? • Or Public, Open BlockChainwill make all of them obsolete! • We do not know. Butsurelytwothings are mandatory: • Researchand sharing of (good) Knowledge • Experiments on real life problems SeminariBordoniBlockChain - 25 Settembre, 2018

  9. the role of Fondazione Ugo Bordoni • Basic Skills: • Cryptography and (Cyber)Security Certification • Data Mining • Telecommunications(Network, Spectrum) • Knowledge of PA processes • OurGoals: • Foster a Permanent Forum on «Distributed Ledger» Technology • (Active) Participation to the EuropeanBlockChain Forum • (Active) Participation to the Italian Task Force on BlockChain • OurExperimentalProjects: • BlockChain for Dynamic Spectrum Management • Internet of Things– MicroPayments(5G) • Supply Chain Certification(FraudDetection) • Digital and AuthorshipRights Management SeminariBordoniBlockChain - 25 Settembre, 2018

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