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Blockchain

Group 1
Bella Felicia
Divanka Alberta
Nisa Afifah
Olivia Gracia
Panji
Qurri Cempaka
What is blockchain? Digital, distributed transaction ledger
“A blockchain is a digital information recording method capable of recording data using
a logbook approach”
“A type of data structure that enables identifying and tracking transactions digitally and
sharing this information across a distributed network of computers, creating in a sense
a distributed trust network. The distributed ledger technology offered by blockchain
provides a transparent and secure means for tracking the ownership and transfer of
assets” (Stroud, 2015)
– Decentralized & distributed  every party can authorized & record
– Without 3rd party
– Cryptography  memastikan data yang dikirim aman (harus memiliki public key &
private key)
Components of Blockchain

– Messages
– Blocks
– Block headers (informasi dari block sebelumnya)
– Time stamp
– Hashing (membuat key (private) dimana untuk menerima data, harus memiliki
key pasangannya)
– Chaining
Main Characteristics of
Blockchain
– Transparency  setiap pihak memiliki transaction ledger yang sama (tidak perlu
rekonsiliasi)
– Time stamped  akan selalu memiliki informasi waktu
– Immutable  setelah diinisiasi, tidak bisa dihapus/dihilangkan
– No single point of failure  data dimiliki bersama dan consensus, sehingga
terhindari dari error
– Irrevocable  mirip immutable, tidak dapat diperbaiki, kecuali menginisiasi
transaksi baru (harus di-approve oleh pihak lainnya)
– Programmable  bisa di-custom sesuai kebutuhan
PUBLIC
– Bisa masuk bebas sebagai partisipan, melihat, meng-approve

PRIVATE
– Lebih terbatas  ada syarat atau limitasi (contoh: dalam perusahaan, melimitasi
dalam mengakses data)
– Sudah digunakan di Hainan Airlines

HYBRID
– Masih memerlukan autorisasi tertentu (contoh: self assessment pajak)
What are blockchain’s typical key
performance characteristics? (IBM)
1. It is designed to be distributed and synchronized across networks, which makes it ideal for multi-
organizational business networks such as supply chains or financial consortia. It also encourages organizations
to come out from behind their firewalls and share data.
2. You can’t just do whatever you want to the data. The types of transactions one can carry out are agreed
between participants in advance and stored in the blockchain as “smart contracts,” which helps give
confidence that everyone is playing by the rules.
3. Before one can execute a transaction, there must be agreement between all relevant parties that the
transaction is valid. For example, if you’re registering the sale of a cow, that cow must belong to you or you
won’t get agreement. This process is known as “consensus” and it helps keep inaccurate or potentially
fraudulent transactions out of the database.
4. Immutability of the data. Once you have agreed on a transaction and recorded it, it can never be changed.
You can subsequently record another transaction about that asset to change its state, but you can never hide
the original transaction. This gives the idea of provenance of assets, which means that for any asset you can
tell where it is, where it’s been and what has happened throughout its life.
How does a typical blockchain
transaction work?
Step 1: A user signs off on a transaction from their wallet application, attempting
to send a certain crypto or token from them to someone else.
Step 2: The transaction is broadcasted by the wallet application and is now waiting
to be picked up by a miner on the according blockchain.
Step 3: Miners on the network select transactions from these pools and form them
into a ‘block’.
Step 4: By selecting transactions and adding them to their block, miners create a
block of transactions. To add this block of transactions to the blockchain, the block
first needs a signature. This signature is created by solving a very complex
mathematical problem that is unique to each block of transactions.
How does a typical blockchain
transaction work?
Step 5: The miner that finds an eligible signature (solution) for its block first,
broadcasts this signature to all the other miners.
Step 6: Other miners now verify if that solution corresponds with the problem of
the senders’ block (if the hash input actually results in that signature). If it is valid,
the other miners will confirm the solution and agree that the block can be added
to the blockchain.
Step 7: If the majority of the miners reaches consensus, the block gets added to
the blockchain. Every time another block gets added on top of this block, it counts
as another ‘confirmation’ for the block beneath it.
Explain the benefits of blockchain!
a. Greater transperancy
b. Enhanced security
c. Improved traceability
d. Inceased efficiency & speed
e. Reduced cost
(IBM)
What are obstacles to widespread
blockchain adoption?

According to Deloitte analysts, in order to be adopted by enterprises on a mass


scale, blockchain technology should overcome five major obstacles:
• time-consuming operations;
• lack of standardization;
• high cost and complex blockchain applications;
• regulation uncertainty;
• absence of collaboration between blockchain companies.
When are blockchain technologies
likely to deliver significant value?

People started to realize around 2014 that blockchain could be used for more than
cryptocurrency. Then, they started to invest in and explore how blockchain could
alter many different kinds of operations.
(Forbes)
Explain which industry sectors
might be affected!

Banking Healthcare Politics Real Estate

Legal Industry Security Government Education


What are key legal and
regulatory issues?
Sumber
https://www.ibm.com/blogs/cloud-computing/2017/04/11/characteristics-blockchain/
https://www.forbes.com/sites/bernardmarr/2018/07/16/here-are-10-industries-blockchain-is-
likely-to-disrupt/#2d990f6db5a2
https://www.ibm.com/blogs/blockchain/2018/02/top-five-blockchain-benefits-transforming-
your-industry/
https://www.forbes.com/sites/bernardmarr/2018/02/16/a-very-brief-history-of-blockchain-
technology-everyone-should-read/#3b32ba5c7bc4
https://medium.com/coinmonks/how-a-miner-adds-transactions-to-the-blockchain-in-seven-
steps-856053271476
https://coindiary.net/deloitte-identifies-five-obstacles-to-blockchains-widespread-introduction/
https://dailysocial.id/longform/payung-hukum-blockchain/

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