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Lockchain Undamentals: Business Communication and Ethics Class: TE EXTC

Blockchain technology is an open, distributed ledger that can record transactions between two parties efficiently and in a permanent way. It allows peer-to-peer transactions without an intermediary. Smart contracts on blockchain provide advantages like transparency, no miscommunication, efficient performance, and guaranteed outcomes. However, they also have disadvantages like issues around confidentiality, potential for errors, and "rogue contracts". Blockchain is predicted to transform industries like technology, media, transportation, government services, finance, and more. It may lead to a more decentralized "Web 3.0" where users have more control over data and networks are more private and secure.

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Gaurav Nemade
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154 views

Lockchain Undamentals: Business Communication and Ethics Class: TE EXTC

Blockchain technology is an open, distributed ledger that can record transactions between two parties efficiently and in a permanent way. It allows peer-to-peer transactions without an intermediary. Smart contracts on blockchain provide advantages like transparency, no miscommunication, efficient performance, and guaranteed outcomes. However, they also have disadvantages like issues around confidentiality, potential for errors, and "rogue contracts". Blockchain is predicted to transform industries like technology, media, transportation, government services, finance, and more. It may lead to a more decentralized "Web 3.0" where users have more control over data and networks are more private and secure.

Uploaded by

Gaurav Nemade
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Blockchain Fundamentals

Business Communication and Ethics


Class: TE EXTC
Group 5: 1. Shubham Bhalerao (05)
2. Milind Daswadekar (06)
3. Pratiksha More (16)
4. Gaurav Nemade (17)
5. Kedar Pingale (22)
6. Ajinkya Sonawale (24)
Abstract
• What exactly is Blockchain Technology?
• Must know Blockchain Terms.
• What are Smart Contracts?
• Blockchain Digital Transformation.
• How Blockchain will Change our world?

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What is Blockchain?

“Open, distributed ledger that can record transactions between two


parties efficiently and in a verifiable and permanent way”
Open
Distributed
Ledger
P2P
Permanent

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Must Know Blockchain Terms
• Airdrop: Airdrop is a process of distributed free cryptocurrency coins to the
general public.
• Altcoin: Altcoin is any cryptocurrency other than bitcoin.
• Bitcoin: Bitcoin is the fist cryptocurrency that came into existence in 2009 by
Satoshi Nakamoto. It is a digital currency that doesn’t require a centralized
authority to work of function.
• DAO: DAO stands for the decentralized autonomous organization.
• dApp: dApp stands for the decentralized applications that run without the control
of the central authority.
• ERC-20: ERC-20 is a technical standard for issuing tokens on Ethereum blockchain.
• Ether: Ether is the fuel that powers distributed Ethereum Networks.
• Fiat: Fiat is the government-controlled currency and is declared as legal tender.

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Must Know Blockchain Terms
• ICO: ICO stands for “Initial Coin Offering” that is used by startups to raise funds by
selling tokens.
• Mainnet: Mainnet is the working blockchain product that also provides the ability
to transfer digital currencies between users in a blockchain environment.
• 51% Attack: 51% Attack is a common vulnerability with blockchain technology. It
can be exploited by a group of miners if they control 51% of the hash rate of the
whole network.
• Utility Token: Utility Token is the token that has utility attached to it. They are
used for accessing a product or service.
• DYOR: DYOR stands for “Do Your Own Research”.
• FOMO: FOMO stands for “Fear of Missing Out”.
• FUD: FUD stands for “Fear, Uncertainty and Doubt”.

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What are the Advantages of Smart Contracts?
Total Transperancy
No Miscommunication
Efficient Performance
No Paperwork
Backup
Trustworthy
Guaranteed Outcomes

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Disadvantages of Smart Contracts
× Confidentiality “Whereas most technologies tend
× Error to automate workers on the
× Rogue Contracts periphery doing menial tasks,
blockchains automate away the
center.
Instead of putting the taxi driver
out of a job, blockchain puts Uber
out of a job and lets the taxi
drivers work with the customer
directly.”
Vitalik Buterin
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Is the Blockchain Overhyped?
“The truth in no online database will replace your daily newspaper, no
CD-ROM can take the place of competent teacher and no computer
network will change the way government works.”
Clifford Stoll

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9 Verticals of Blockchain Transformation
1. Technology
2. Media
3. Law and Crime
4. Transportation
5. Governmental Services
6. Human Rights
7. Finance
8. Contracts
9. Entertainment

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2017 – 2018 Leading Sectors
• Supply Chains
• Fintech
• Retail
• Shipping
• Mining
• Healthcare
• Insurance
And more…

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Web 3.0
Web 3.0 is the 3rd generation of
the internet where the devices are
connected in a decentralized
network rather depending on the
server-based databases.
The new internet is a user-centric,
more secured, private and better
connected.

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Web 3.0 Benefits
• Anti-monopoly
• Pro-privacy
• Secure Network
• Data Ownership
• Interoperability
• No Interruption In Service
• Permissionless Blockchains
• Semantic Web
• Ubiquity

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THANK YOU

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