What is blockchain? The ‘DNA’ of a transaction
In 2008, the global financial system collapsed. As a consequence, big banks had to be bailed out. Trust in the financial system was lost. The same year, an unknown blogger, Satoshi Nakamoto, published ”Bitcoin: A Peer-to-Peer Electronic Cash System”, eliminating middlemen (banks) from any digital transaction. Blockchain is the technology that supports this revolution, fulfilling digital transactions faster and more cost effectively through a public, distributed and encrypted database.
How it works Highlights
Send An unchangeable record block where all related parties contain the entire history of an asset
$3.2 Billion Raised by Initial Coin Offerings (ICOs) in 20171
Approve A new transaction is compared to the original record to be approved
1,278% Bitcoin’s returns in 20171
Read $9.7 Billion Forecasted spend on blockchain for 20212
Once approved, a new block is added to the chain and updated throughout the chain
There are three types of blockchain Public
Consortium
Private
Read transactions
Anyone
Limited
Limited
Send transactions
Anyone
Limited
Centralised
Approval process
Anyone
Few members
Centralised
Cryptocurrencies
Financial groups
Settlement systems
Examples
1 – Coindesk, State of Blockchain, 2018 2 2 – IDC, Spending Guide, 2018
© 2021 confidential
TMT can drive blockchain and vice-versa
Ten years after its conception, blockchain is being used to transfer currencies worldwide, certify marriages and validate medical records. We believe that the TMT industry has significant opportunities to drive this forward. For example, streamlining internal processes and enabling collective ‘DIY’ transactions can game-change the way consumers and businesses share data, pay and communicate. Below we’ve curated a sample of service, platform and infrastructure innovators in the blockchain market.
Examples of innovation in TMT
infrastructure
Platform
Services
Music Media ecosystem to enable artists to share their work and receive instant royalties
Mobile payments Remittance mobile payments for the un-banked in emerging economies
BSS/ OSS
ID management
Smart billing & payment networks to electronically certify and notarise settlements and payments
Create certified digital IDs, reducing the need for multiple security checks
Telco wholesale
Internet of Things
Reduce cost of dual roaming agreement reconciliation and eliminate roaming and wholesale fraud
Decentralised network that enables devices to interact and transact using smart contracts
Future-gazing disruptors Will enable enterprise and government customers to integrate blockchain solutions into existing systems, using Guardtime KSI® Blockchain capabilities
3
Is developing the first ‘blockchain smartphone’, deemed to be unhackable and crypto-ready. Reportedly, they are in talks to build one for Huawei
Aims to be the world’s first decentralised mobile network, creating a sharing ecosystem for global Wi-Fi, SMS and data
© 2021 confidential
The content in this publication has been prepared for general information purposes only. We do not accept liability for any loss resulting from actions taken based on any material in this publication. The contents of this document shall not be copied or distributed for commercial purposes. When copied or distributed for noncommercial purposes, it shall include Red Dawn Consulting copyright notice. Red Dawn Consulting has provided rigorous market analysis and winning strategies to deliver growth for +100 companies in the Telecom, Media and Technology industry. Our strategies are grounded with an intimate understanding of competition, customers and emerging innovations from around the world.
Talk to us about building a winning blockchain applications. Arun Dehiri
arun@reddawnconsulting.com
Managing Director Adriana Portela
adriana@reddawnconsulting.com
Senior Consultant
Level 1, Devonshire House, One Mayfair Place, London, London W1J 8AJ United Kingdom
+44 (0) 333 301 3450 www.reddawnconsulting.com