Database for the Internet Why Blockchain Matters to Big Data Big Data Meetup London Nov. 3, 2016 Bruce Pon @brucepon
Why Blockchain Matters to Big Data - Big Data London Meetup - Nov 3, 2016
Apr 16, 2017
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Database for the Internet
Why Blockchain Matters to Big Data
Big Data Meetup LondonNov. 3, 2016Bruce Pon
@brucepon
What is a Blockchain? Global View
Business LegalTechnical
All-in-one system that unlocks immense value -value exchange, database, validation mechanism
What is a Blockchain? Component View
Database EncryptionConsensus
What Is a Blockchain? Feature View
Decentralized AssetAutonomyImmutable
A pragmatic definition that allows for an expanded opportunity surface and blue ocean thinking
The First Use Case for Blockchain
Bitcoin is a cryptocurrency, that uses the underlying characteristics of blockchain to issue a digital currency
= BlockchainBitcoin is an implementation
of the technologyBlockchain is the core
technology
Blockchain Disrupts Centralized Parties
Trusted Third Parties • Shared Single Source of Truth• Conducted via consensus rules• Enforced with transparency
Centralized Blockchain Model
Centralized to Decentralized
Strengths:1. Lower coordination overhead2. Efficient
Weaknesses:1. Centralized power2. Silos3. Hackable
Centralized Model Decentralized
Centralized to Decentralized
Strengths:1. Real-time Processing2. Hack-resistant3. Asset autonomy
Weaknesses:1. Performance & Scalability2. Governance & Security
Blockchain technology allows
The Digitization of Value• Next wave of digitization
• Weave into the fabric of our society
• Larger than the internet
The Internet Drove the Digitization of Information
Knowledge freely shareable for the world
spawned billion dollar companies:
- Amazon
Gave voice to the powerless
Connected the powerful
The blockchain is a truly open, distributed, global platform that fundamentally changes what we can do online, how we do it, and who can participate.
Call it the world wide ledger.
The Internet of Everything needs a Ledger of Everything.
- Don & Alex Tapscott
Image Credits: Ripple
Blockchain Technology will Impact $100 Trillion in Value
The “Real” First Use Case for Blockchain
Source: http://www.looiconsulting.com/wp-content/uploads/2014/08/Four-Vs.png
3 Ways to Unlock Big Data with Blockchains
Decentralized AssetAutonomyImmutable
SharedControl
UniversalExchange
AuditTrails
3 Ways to Unlock Big Data with Blockchains
SharedControl
UniversalExchangeAudit
Trails
3 Ways to Unlock Big Data with Blockchains
SharedControl
UniversalExchangeAudit
Trails
Audit Trails for Big Data Using Blockchain
Audit Trails for Big Data Using BlockchainSource: http://www.bloomberg.com/news/articles/2011-09-01/the-f-35-s-global-supply-chain
Global Database
3 Ways to Unlock Big Data with Blockchains
SharedControl
UniversalExchangeAudit
Trails
Example: Data Pipeline
IoTSensors HDFS
StorageCleaning
NormalizationMongoDBStorage
Analytics
Creating Immutable, Time-Stamped Data
CreateTx
Write toDB
SignTx
Or if you’re already using a distributed database that BigchainDB wraps, then simply swap out that database with it’s blockchainified version.
BACK OFFICE EFFICIENCY SUPPLY CHAIN RISK MODELS
Unlocks Data Lakes and Big Data Tools
Data Transparency
3 Ways to Unlock Big Data with Blockchains
SharedControl
UniversalExchangeAudit
Trails
Digital Assets
Digital assets which have value and can’t be copied.
TOKENS TICKETS SECURITIES CREDIT CURRENCY
Asset Sovereignty
$
BANK
COURT
EXCHANGE
Own your private data, intellectual property, financial assets, land property without the
reliance on others to secure it.
A truly global world where no government can take away what is yours
Assets “Live” in the Network
A scalable blockchain database for the decentralized enterprise
Anatomy of a Diamond FraudProof-of-Concept
January 2016
Case Study: The Diamond Supply Chain
30
• Conducted 6 week Proof-of-Concept
• Entered 1 Mio diamonds into BigchainDB from multiple data sources – Certification Labs, pricing services, and marketplaces
• Developed custom analytics and machine learning tools to understand and assess the data
How much fraud is there on a major diamond marketplace?
Conclusion: 7% of all listings have RED flags and are most likely fraudulent. This works out $750 Million per year of fraud on a single marketplace
What is Diamond Fraud?
How Detect Fraud?
Let’s Scrape for Data
Anatomy of a Diamond Fraud
34
Anatomy of a Diamond Fraud
36
• Diamond listing identified• Three fraud indicators are found:
1. Offer price is suspiciously low2. Is the Certification Lab
trustworthy?3. “Appraisal” value serves as a
mental anchor to convince buyers that they’re getting a deal
Anatomy of a Diamond Fraud
37
• Ascribe’s GemInSights is a backend prototype to monitor and track diamonds entering the supply chain – with a Rating scorecard that flags suspicious diamonds
• Findings - RED Flags:1. DGI lab
• Online Diamond ID Lookup function finds no diamond correlating to cert# on listing
• No sample certificates to show buyers authentic certificates
2. Price Estimator• List price is 70% less than
expected based on analytics it’s “too good to be true”
3. Related Sightings• Exact same listing has shown up
multiple occasions – once stored in BigchainDB, it’s immutable
To get started with blockchain apps and use cases,Sign up for early access at:
https://ipdb.foundation/ipdb-testnet
- Erik Brynjolfsson
Electricity is an example of a general purpose technology, like the steam engine before it. General purpose technologies drive most economic growth, because they unleash cascades of complementary innovations, like lightbulbs and, yes, factory redesign.
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