blockchain: the next frontier - sti.or.th 101 - v2_0 - printable... · blockchain: the next...

BLOCKCHAIN: The Next Frontier

Sathapon ‘Bank’ Patanakuha• MD & Founder of SmartContract Thailand &

BLOCK M.D.• Board Member of Thai Fintech Association

Confidential&Copyright©2017bySmartContractThailand

CHAINof BLOCK= BLOCKCHAIN

GenesisBlock

Block1

Block2

Block3 Block4

Block5

Block6

Block7Block8

Block9

Block10 Block11

Block6aBlock9a


CENTRALISED DECENTRALISED DISTRIBUTED


3 Blockchain Characterisitcs

1. Integrity2. Transparency3. Availability


Internet of Value

With today’s internet of information you can’t store, move, transact value without a powerful intermediary. And that’s what blockchains solve.


Bitcoin is not equivalent to BlockchainBitcoin is a cryptocurrency.

Blockchain is a technology platform/method for creating decentralized payments that allows authentication and transfer instantaneously for participating vendors and consumers.


Public vs Private Blockchain

Public blockchain is a blockchain that anyone in the world can read, anyone in the world can send transactions to and expect to see them included if they are valid, and anyone in the world can participate in the consensus process.

Private blockchain is a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, one might imagine a consortium of 15 financial institutions, each of which operates a node and of which 10 must sign every block in order for the block to be valid. The right to read the blockchain may be public, or restricted to the participants


Smart Contract

The phrase "smart contracts" was coined by computer scientist Nick Szabo in 1994

It is a computer code that is capable of facilitating, executing, and enforcing the negotiation or performance of an agreement (i.e. contract) using blockchain technology. The entire process is automated can act as a complement, or substitute, for legal contracts, where the terms of the smart contract are recorded in a computer language as a set of instructions.


Example Smart L/C


Initial Coin Offering (ICO)Initial coin offering (ICO) is a crowdfunding via use of cryptocurrency and is applied by cryptocurrency businesses as an alternative to the rigorous and regulated capital-raising process required by venture capitalists, banks, or stock exchanges.

The term may be analogous with 'token sale' or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date. ICOs may sell a right of ownership or royalties to a project. According to Amy Wan, a partner at Trowbridge Sidoti LLP practicing crowdfunding and syndication law, “The coin in an ICO is a symbol of ownership interest in an enterprise—a digital stock certificate, if you will.”[4] In contrast to initial public offerings (IPOs), where investors gain shares in the ownership of the company, for ICOs the investors buy coins of the company, which can appreciate in value if the business is successful.

The Contract Management Platformbased on Blockchain Smart Contract technology to help legal officer, lawyer, procurement, accountants, purchasers, business owners, and individuals in:

• Contract building and signing• Schedule and Work Progress tracking• Contract execution and collection

The Medical Record Management Platform based on Blockchain Smart Contract technology to help Patients, Medical Practitioners, Hospitals, and Healthcare Service Providers in

• Universal health information interoperability • Universal health information accessibility• eRefer & eClaim• patient’s control over records and privacy• transparency for dispute and regulators

[email protected]

www.smartcontractthailand.com

fb.com/smartcontractthailand

medium.com/@sathapon

blockchain: the next frontier - sti.or.th 101 - v2_0 - printable... · blockchain: the next...

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