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What To Focus On While Building A Blockchain Start-Up

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How does a Blockchain Work?

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Standard Definition

  • Peer-to-Peer (P2P) network
  • Cryptography secured
  • Time stamped transactions
  • Protocol for decentralized consensus

What is Blockchain?

Business definition

A secure way of

- Transferring value over a distributed network

  • Offering decentralized governance

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Where to start thinking blockchain

More than two parties sharing or exchanging value over a network

  • Financial
  • Asset exchange
  • Asset ownership

Where –

  • Trust-less automation of network become paramount
  • Auditability or record persistence (immutability) is required

E.g. Payments, trading, digital copy of real world assets, identity etc

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Blockchain offers a fantastic readymade framework for value transfer systems

Characteristics to think through

  • Data
    • Size – Blockchain is not a DB
    • Location – Restriction on where the data can sit
  • Throughput
  • Scaling - Horizontal & Vertical
  • Third party application or system integration
  • Infrastructure – Nodes/Peers/Chain will be on-premise or cloud

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  • To use blockchain or not
  • Which Platform
  • Consensus Model
  • Public or private model

Few decision Making Pointers

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  • Distributed and decentralized marketplace – Paytm Mall – with Crypto/Fiat Payments
  • Distributed Cab aggregation & with centralized governance
  • Automated Payments and accounting system over a multi-layered supply chain network

Some Use Cases

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Questions?