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Blockchain and Money - Coggle Diagram
Blockchain and Money
The internet
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Cryptography
Technology behind the science of encryption and decription; communication in the presence of adversaries
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1996 SSL/TLS
Protocol that mounts on top of the TCP/IP to provide encryption using ASYMETRIC case which is public infrastructure technology
Blockchain
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Hash function: appends the next block to prior blocks; more importantly to compress data to manifulate it and verify it
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Money in Society
Exchanging value
Moving, allocating, pricing
Financial inclusion
1.7 billion people in the world who are unbanked not only true in developiong contries but also the US
The opportunity
Finance is 7.5 percent of US economy equivalent to 1.5 trillion dollars in revenues
US payment system is roughly 0.5 to 1 percent of our economy equivalent to 100 to 200 billion dollars of revenues; Visa is about 18 billion
Commercial use cases
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Clearing, settlement, and processing
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