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Blockchain for Decision Makers
Blockchain for Decision Makers

Blockchain for Decision Makers: A systematic guide to using blockchain for improving your business

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Profile Icon Romain Tormen
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Mex$179.99 Mex$639.99
eBook Sep 2019 184 pages 1st Edition
eBook
Mex$179.99 Mex$639.99
Paperback
Mex$799.99
Subscription
Free Trial
Arrow left icon
Profile Icon Romain Tormen
Arrow right icon
Mex$179.99 Mex$639.99
eBook Sep 2019 184 pages 1st Edition
eBook
Mex$179.99 Mex$639.99
Paperback
Mex$799.99
Subscription
Free Trial
eBook
Mex$179.99 Mex$639.99
Paperback
Mex$799.99
Subscription
Free Trial

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Blockchain for Decision Makers

Basics of Blockchains and the Illustration of Village Beta

Blockchain has been pushed into the limelight by a new and controversial form of digital currency called Bitcoin. The success stories of early Bitcoin investors and the launch of Ethereum, a platform allowing the creation of decentralized applications, brought blockchain and cryptocurrencies to the frontier where decision-makers and executives started to pay attention to this emerging piece of technology. Many curious persons began to wonder how it could help them in their personal or professional enterprises, leading them to believe that this innovation could be an appropriate answer to their business issues. The Economist, on October 31, 2015, published the first well-known article about blockchain (https://www.economist.com/printedition/covers/2015-10-29/ap-e-eu-la-me-na-uk).

As a decision-maker, being educated...

The significance of blockchain in the business world

The latest Gartner's Hype Cycle, published on August 20, 2018, shows how far blockchain is from massive adoption: 5 to 10 years (https://www.gartner.com/en/newsroom/press-releases/2018-08-20-gartner-identifies-five-emerging-technology-trends-that-will-blur-the-lines-between-human-and-machine).

The Gartner's Hype Cycle is a visual graphical representation of emerging technologies' maturity and adoption. It is an annual report published by Gartner, an information technology research and consultancy firm.

As stated by Gartner, blockchain has shown many great stories and successful proof of concepts propelled by a wide media coverage and publicity, but still faces many failures and scalability issues. Some products have seen the light, with a real impact on economy and society (Bitcoin and Ethereum are the most well...

Understanding blockchains

Before diving instantly into the technical part, which will be covered in Chapter 2, A Technical Dive into Blockchain, you should first have an overview of what a blockchain is. If you have already read or heard about the topic, you might have figured out that it is appropriate for any use case relying on trust being ensured by a third party and where value is exchanged between different stakeholders. With the help of a simple example taken from an imaginary situation, the following sections will hopefully unravel the things you might have been confused about and the things you are eager to understand.

Using centralized ledger systems

Imagine a village of 20 people living on an island in...

No network, no blockchain

A blockchain's most important component is the network—which is the community empowering it. The role of the community is to ensure that the truth is correctly recorded in the shared database.

The following diagram is an overview of a blockchain layer:

To understand this in a better way, let's look at a metaphorical example.

Truth in the network

Imagine a US Open final is happening next weekend between Roger Federer and Rafael Nadal. Being a big fan of Roger Federer and being sure he will win the game, Alice bets $10 on the betting website Betwin. On the other hand, Bob, who is an experienced gambler, thinks that Rafael Nadal will win. Bob decides to place a $10 bet on the Betwin platform...

Cryptography

We talked about cryptography and hash functions in the first chapter where we defined what it was:

It is a mathematical function where, knowing the output, it is almost impossible to find the correct input. But knowing the input of the function, it is very easy to find the correct output. This is made possible because a hash function always returns the same output for the same input.

A hash is a result of a mathematical function that is a transformation applied to an input that generates an output. Y = f(x) is a mathematical function where x is the input and Y is the output.

In mathematical terms, we have the following:

"Knowing Y, it is almost impossible to find x. But knowing x, it is very easy to find Y."

The hash function is essential to make information and transactions secured along the blockchain.

There are basic properties around a hash function...

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Key benefits

  • Become familiar with business challenges faced by companies when using blockchain
  • Discover how companies implement blockchain to monetize and secure their data
  • Study real-world examples to understand blockchain and its use in organizations

Description

In addition to cryptocurrencies, blockchain-based apps are being developed in different industries such as banking, supply chain, and healthcare to achieve digital transformation and enhance user experience. Blockchain is not only about Bitcoin or cryptocurrencies, but also about different technologies such as peer-to-peer networks, consensus mechanisms, and cryptography. These technologies together help sustain trustless environments in which digital value can be transferred between individuals without intermediaries. This book will help you understand the basics of blockchain such as consensus protocols, decentralized applications, and tokenization. You'll focus on how blockchain is used today in different industries and the technological challenges faced while implementing a blockchain strategy. The book also enables you, as a decision maker, to understand blockchain from a technical perspective and evaluate its applicability in your business. Finally, you'll get to grips with blockchain frameworks such as Hyperledger and Quorum and their usability. By the end of this book, you'll have learned about the current use cases of blockchain and be able to implement a blockchain strategy on your own.

Who is this book for?

This book is for CXOs, business professionals, organization leaders, decision makers, technology enthusiasts, and managers who wish to understand how blockchain is implemented in different organizations, its impact, and how it can be customized according to business needs. Prior experience with blockchain is not required.

What you will learn

  • Become well-versed with how blockchain works
  • Understand the difference between blockchain and Bitcoin
  • Learn how blockchain is being used in different industry verticals such as finance and retail
  • Delve into the technological and organizational challenges of implementing blockchain
  • Explore the possibilities that blockchain can unlock for decision makers
  • Choose a blockchain framework best suited for your projects from options such as Ethereum and Hyperledger Fabric

Product Details

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Publication date : Sep 26, 2019
Length: 184 pages
Edition : 1st
Language : English
ISBN-13 : 9781838554064
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Product Details

Publication date : Sep 26, 2019
Length: 184 pages
Edition : 1st
Language : English
ISBN-13 : 9781838554064
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Concepts :

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Table of Contents

14 Chapters
Section 1: A First Step into Blockchain and an Exciting World Chevron down icon Chevron up icon
Basics of Blockchains and the Illustration of Village Beta Chevron down icon Chevron up icon
A Technical Dive into Blockchain Chevron down icon Chevron up icon
Ethereum and Smart Contracts Chevron down icon Chevron up icon
ICOs and Tokenized Fundraising Methods Chevron down icon Chevron up icon
Section 2: Blockchain in Practice, Insights, and Achievements Chevron down icon Chevron up icon
An Economic and Historical Approach of Blockchain Chevron down icon Chevron up icon
Blockchain Legality, Compliance, and Regulation Chevron down icon Chevron up icon
Blockchain for the Business World and Achievements Chevron down icon Chevron up icon
Future Outlook for Blockchain Chevron down icon Chevron up icon
Section 3: Blockchain for Business Leaders Chevron down icon Chevron up icon
Infrastructures and Cloud-Based Solutions Chevron down icon Chevron up icon
Defining Your Needs Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon
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