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ICT SloveniaBlockchain: Making Sense of Emerging TechnologiesAnthony Harrington PhDGartner Executive Programs17th April 2018CONFIDENTIAL AND PROPRIETARYThis presentation, including any supporting materials, is owned by Gartner, Inc. and/or its affiliates and is for the sole use of the intended Gartner audience or other intended recipients. This presentation may containinformation that is confidential, proprietary or otherwise legally protected, and it may not be further copied, distributed or publicly displayed without the express written permission of Gartner, Inc. or its affiliates. 2017 Gartner, Inc. and/or its affiliates. All rights reserved.
What is a Distributed Ledger (i.e. Blockchain)?Distributed Ledger of Bitcoin Transactions“GenesisBlock”Blockof TxBlockof TxBlockof TxBlockof Tx Bitcoin is the best known real,proven distributed ledger(although more than two dozencompetitors are underway) Linear list of transactions,cryptographically joined in achain of blocksLedger Replicated Across Peer-to-Peer NetworkNodeNodeNodeNode#GartnerSYM1 Protocol for validation oftransactions and propagationacross networkNodeNodeNodeNode Replicated across P2P network Protocol for structured update toledger and generate of newvalue tokens (i.e., “miningbitcoins”)CONFIDENTIAL AND PROPRIETARY 2015 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.
Blockchain Technology's Core Concepts Mechanism for adding trustin an untrusted environment An irrevocable record of significantdata and events, such as monetarytransactions, property recordsor other valued assets Not just a passive data record,but can optionally add dynamicallyprogrammed behavior to events Create and exchange multivariousassets and forms of value#GartnerSYM2CONFIDENTIAL AND PROPRIETARY I 2016 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.
Top 11CryptocurrencyCoins and Tokens,March 2018Source: Cryptocurrency Market Capitalizations#GartnerSYM3CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
Three Generations of Global-Scale Transformation The Internet of Data: Anynode on global-scalenetwork can send a packetof data (1969) The Internet of Content:Any node can send apacket (web page) ofcontent (1989) Internet of “Money”:Transport protocol for value(2030?)#GartnerSYM4CONFIDENTIAL AND PROPRIETARY 2015 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.
Regardless of Coins, Most Organizations Have Not YetBegun Using BlockchainOrganizations' Plans for Blockchain (Percentage of Respondents)Have alreadyinvested anddeployed; 1%No interest;34%In short-termplanning/activelyexperimenting; 8%In medium- orlong-termplanning;14%FS has been the leadingindustry historically for POC,but the implementation rateremains 5%.26,000 blockchain projectsbegan in 2016,On the radar,but no actionplanned; 43%Base: All answering, excludes DK, n 3138What are your organization's plans in terms of the following digital technologies and trends?Blockchain/Distributed Ledger#GartnerSYM5CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.only 8% still active.Source: Deloitte
Interest in Blockchain Varies by IndustryOrganizations' Plans for BlockchainHave already invested and deployedFinancial Services (n 348)In short-term planning/ actively experimenting5%20%Insurance (n 153) 1%Utilities (n 99)Government (n 460) 1%Natural Resources (n 149) 2%Health Payers (n 57)Retail (n 168)6%3%5%Manufacturing (n 647)5%4%Healthcare Providers (n 123) 0%Percentage of RespondentsWhat are your organization's plans in terms of the following digital technologies and trends?Blockchain/Distributed n (n 305)Wholesale Trade (n 54)24%11%29%49%13%Services (n 332) 2%18%46%14%No interest10%51%17%7%On the radar, but no action planned37%18%8%Telecom (n 55)Media (n 53)28%13%Transportation (n 125) 1%In medium- or long-term planningCONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.70%80%90%100%
#GartnerSYM7CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
Hype Cycle for Blockchain Technologies, 2017expectationsDistributed LedgersCryptocurrency Software WalletsBlockchainCryptocurrency Hardware WalletsSidechains/ChannelsConsensus MechanismsQuantum ComputingMetacoin PlatformsBlockchain for Data SecurityDecentralized Applications (Dapps)Blockchain for IAMThings as CustomersBlockchain PaaSSmart ContractsPostquantum BlockchainZero KnowledgeProofsDistributed Storagein BlockchainBitcoinSmart Contract OracleBlockchain Wallet PlatformAs of July 2017InnovationTriggerPeak ofInflatedExpectationsTrough ofDisillusionmentSlope of EnlightenmentPlateau ofProductivitytimeYears to mainstream adoption:less than 2 years2 to 5 years5 to 10 yearsmore than 10 yearsFrom "Hype Cycle for Blockchain Technologies, 2017," 29 July 2017, (G00332627)#GartnerSYM8CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.obsoletebefore plateau
Business Value-Add of Blockchain — 176 Billion by 2025, 3.1 Trillion by 2030#GartnerSYM9CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
Forecast: Multi-Blockchain World for the Next Five Years Crowded field of 45 competitors 5 or 6 leading choices Competition, collaboration,overlap, fragmentation Some vertical, others horizontal Limited interoperability Standards struggle to catch up Eventual consolidation over fiveyear time frame#GartnerSYM10CONFIDENTIAL AND PROPRIETARY 2015 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.
Who Will Win Among Competing Blockchain Platforms? The one not yet in the market Internet search engines in 1995:– Altavista, Lycos, Terra, Excite, Yahoo,Magellan were well-established players– Google came later and won Social networks in 2003– Friendster, Bebo, High5, Orkut, MySpace– Facebook came later and won Mobile OS in 2007– Blackberry, Nokia, Win Mobile, etc– IOS and Android came later & won#GartnerSYM11CONFIDENTIAL AND PROPRIETARY 2015 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.
Characteristics of the WinnerSmart contractcapability atmultiple levelsOpen source enablesnetwork effectModular architecture and openAPIs enable ecosystemMultipleequivalentimplementationsof same protocolFunctioninggovernance withagile response to#GartnerSYMthreats12CONFIDENTIAL AND PROPRIETARY 2015 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or it's affiliates.Hardened via publicblockchain deploymentConfigurable for private orhybrid blockchain
Four Types of Blockchain Initiatives and How They DifferBlockchainDisruptorDigital AssetMarketEfficiencyPlayNew businesses that relyon a blockchainfoundation. Businessmodel may not be new.New markets based ondigital assets created fromnon-digital ones (bothphysical and virtual).Efficiency improvementsin transactionsand interactions.Records management byone entity, for self or fora community. Synereo: Content rightsand social platform The Royal Mint, CMEGroup: Digital gold DTCC: Derivativesclearing and settlement Estonia: Proxy voting OpenBazaar: B2Cmarketplace NYIAX: Advertisingcontracts Maersk Line: Containershipment and trade Dun & Bradstreet: DUNSNumber Gnosis: Predictionmarket platform China carbon credit IBM: Supply chain#GartnerSYM13 CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.RecordKeeper Georgia: Land title
The Evolution of the Programmable sE-CommerceD-BusinessProgrammableExploit "Nexus" to drivegreater efficiency, speed andeconomies of accessEnable personalization, extendpotential customers from peopleto things, introduce new moniesSmart autonomous things enablenew forms of value andinteraction, democratization ofvalue systemsOptimize interactionsBuild new business modelsEnable new economic systemsPeoplePeoplePeopleBusinessThingsSmart ThingsBusinessDAODeeper customer relationships,analyticsCreation of new value and newnonhuman customersSmart things act as proxies forpeople or businesses, andultimately for themselvesInternet, mobile, apps,big data socialAI, sensors smart assets tokensBlockchain, metacoin platforms,IoT, AI#GartnerSYM14 CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
Recommendations Engage your Cxo in a detailed multiyear scenario plan that accounts for the impact blockchainwill have on society, value and law. Consider the critical uncertainties of technology capabilitiese.g., AI, as well as societal acceptance for radically new/different operating models andcontracts. Ensure every senior executive is apprised of these scenarios and the timelinefor realization. Investigate, and run PoC where applicable for emerging blockchain business models. Have astrategy to engage with startups and up date your risk management policies to account forblockchain activities. Establish or assign accountability for monitoring developments in blockchain and smart contractlegal frameworks? Ensure your product, service and risk managers are aware of how smartcontracts work and the ramifications for your business. Ensure your enterprise has the ability to accept, manage, transfer and secure non-fiat-basedassets. Discuss with senior executives the competitive and customer implications of tokenizedvalue evolution.#GartnerSYM15 CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
Recommended Gartner Research Toolkit: Overview of Blockchain Use CasesDavid Furlonger (G00302283) The Bitcoin Blockchain: The Magic and the MythsRay Valdes, David Furlonger and Fabio Chesini (G00295779) Reinventing Education Credentials Using Blockchain as a Possible Missing Link for the Open Badge InfrastructureJan-Martin Lowendahl and David Furlonger (G00302923) Hype Cycle for the Blockchain Technologies, 2017David Furlonger, Ray Valdes and Rajesh Kandaswamy (G00332627) Maverick* Research: The Programmable Economy Is the Ultimate Destination for Digital BusinessRay Valdes, David Furlonger and Stephen Prentice (G00275030) The Future of Money Is the Programmable Economy, Not Just BitcoinDavid Furlonger (G00270192) Metacoin Platforms Will Transform Transaction Banking Payments ServicesFabio Chesini (G00276475) How to Evolve Your Trade Finance Strategy With Smart Assets and BlockchainFabio Chesini (G00314066)For more information, stop by Gartner Zone.#GartnerSYM16 CONFIDENTIAL AND PROPRIETARY I 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.
This presentation, including any supporting materials, is owned by Gartner, Inc. and/or its affiliates and is for the sole use of the intended Gartner audience or other intended recipients. This presentation may contain . Gartner Executive Programs 17th April 2018 Blockchain: Making Sense of Emerging Technologies ICT Slovenia .
