The Blockchain Identity - Duke Fuqua - Duke University
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Transcript of The Blockchain Identity - Duke Fuqua - Duke University
Blockchain: A Technology of Inclusion
Campbell R. HarveyDuke University and NBER
FUQINTRD 697: Innovation and Cryptoventures
Examples of problems
• 1.7 billion are unbanked and excluded from transacting (paying or being paid)• Current system severely constrains funding to small businesses• Vast amount of waste and corruption in government programs designed to
help the underprivileged• Corporate monopolies distort prices• Middle people drive a wedge between producers and consumers increasing
costs of basic items such as energy• Many do not have identity – especially difficult for refugees
Campbell R. Harvey 2021 3
Potential blockchain solutions• Democracy and governance• Agriculture• Identity• Financial inclusion• Energy, climate and the environment• Health• Land rights• Philanthropy, aid, donors• Education• Human rights• Water and sanitation Campbell R. Harvey 2021 4
Democracy and governance
• Citizens data can be erased or edited• Large amount of waste on basic programs, even in the U.S. such as
unemployment insurance or social security being paid to those who do not qualify
• Citizens can crowdfund initiatives
Campbell R. Harvey 2021 5
Democracy and governance
• E-Estonia has 99% of government services based on blockchain tech
Campbell R. Harvey 2021 6
Democracy and governance
• Voting (elections are routinely tampered with even in developed countries). Start small like overseas voting.
• https://www.votem.com/
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Democracy and governance
Many startups• https://voatz.com/• https://followmyvote.com/• http://votebox.co/• https://secure.vote/
Campbell R. Harvey 2021 8
https://www.techrepublic.com/article/mit-finds-massive-security-flaws-with-blockchain-voting-app/
Identity
• Without identity, it is hard to access critical services (voting, healthcare, property rights, crossing borders, asylum, etc.)
• Blockchain provides a potential solution: decentralized identity• Decentralized identity is the point-to-point exchange of information about
people, organizations or things – enabled by blockchain – created specifically for a world of many networks, implemented on global standards.
Campbell R. Harvey 2021 9
Identity
Large number of startups• https://www.validatedid.com/• https://keyp.io/• https://www.newbanking.com/• https://www.metadium.com/• https://www.thekey.vip/#/homePage• https://trusti.com/• 27 others herehttps://www.disruptordaily.com/blockchain-startups-identity-management/
Campbell R. Harvey 2021 10
Agriculture
• Food fraud ($40b per year), contamination and recall, quality type, spoilage
• Increase transparency and efficiency
• Mainly focused on supply chain solutions and payment solutions
Campbell R. Harvey 2021 11https://www.cobank.com/-/media/files/ked/general/blockchain-report-may-2018.pdf
Agriculture
Many startups in the space• https://www.agridigital.io/(focus on grains industry)
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Agriculture
Many startups in the space• https://www.bext360.com/(focus on coffee)
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AgricultureMany startups in the space• AgriChain – A blockchain company focusing on enabling peer-to-peer agricultural
transactions and processing while cutting out the middlemen.• AgriLedger – A UK social enterprise project supporting farmers in tracing food origins,
getting easier access to financing, and storing transactions data.• Demeter – A central hub to rent and farm micro fields anywhere in the world – with no
middlemen, complexity or the overhead of a big organization.• Etherisc – A blockchain startup offering crop insurance to farmers via its decentralized
insurance applications.• Ripe – By designing a transparent digital food supply chain, the startup harnesses
quality food data to create the Blockchain of Food – mapping the food journey.• TE-FOOD – Applies identification tools to livestock, transports, and fresh food packages
to follow the items throughout the whole supply chain.• Worldcovr – Provide crop insurance to protect against loss of yield using satellites to
monitor the rainfall and trigger payouts automatically.Campbell R. Harvey 2021 14
Energy, Environment, Climate
• Waste of energy because of inefficient grids and thick layer of middle people (utilities)
Campbell R. Harvey 2021 15
Energy, Environment, Climate
Many startups• https://gridsingularity.com/German startup focusing on exchange of granular and private data between different parties within the energy market
Campbell R. Harvey 2021 16
Energy, Environment, Climate
• Many startups• https://www.powerledger.io/Australian startup, P2P energy trading
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Energy, Environment, Climate
Many startups• https://www.me-solshare.com/ • Bangladeshi company using
blockchain to share solar power
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Energy, Environment, Climate
Many startups• https://www.brooklyn.energy/
Even in US, projects have started to allow owners of solar panels to sell P2P to neighbors
Campbell R. Harvey 2021 19
Energy, Environment, Climate
Many startups• Greeneum – An Israeli startup incentivizing customers for energy saving
and eco-friendly lifestyles by earning carbon assets in the form of cryptocurrency for every watt-hour of renewable energy generated.
• Grid+ – A US startup that allows consumers to cut out the energy retailer and buy energy directly from producers via an Ethereum-powered blockchain network, cutting and managing energy usage.
Campbell R. Harvey 2021 20https://www.startus-insights.com/innovators-guide/6-blockchain-startups-disrupting-the-energy-industry/
EnergyMany more:• Infrastructure• Incentivizing renewables• Energy data and provenance• P2P trading and microgrid• Tokenizing energy[40 additional startups here]
21https://www.disruptordaily.com/blockchain-market-map-energy/
Campbell R. Harvey 2021
Financial Inclusion
Blockchain addresses• High fees (remittance and payments. Note: remittance flows $466b in 2017)• Account opening process (2.4b have no digital identity)• Reinforces trust (which doesn’t exist in many countries)
Campbell R. Harvey 2021 22https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/lu-blockchain-accelerate-financial-inclusion.pdf
Financial Inclusion
Large number of startups• https://www.wetrust.io/
Campbell R. Harvey 2021 23
Health
Blockchain addresses• Safe transport of drugs and equipment (WHO estimates 700,000 deaths a year
due to fake malaria and TB drugs)• Security of medical records• High costs due to inefficiency• Research
Campbell R. Harvey 2021 24
Health
Large number of startups• PokitDok Country: USA | Funding: $48.67M
PokitDok’s platform-as-a-service enables healthcare organizations to quickly build modern commerce experiences across the healthcare value chain. Plug directly into 650 trading partners to access real-time transactional data at scale. No need to rip and replace legacy systems to innovate.
• Medicalchain Country: UK | Funding: $24MMedicalchain uses blockchain technology to securely store health records and maintain a single version of the truth. The different organisations such as doctors, hospitals, laboratories, pharmacists and health insurers can request permission to access a patient’s record to serve their purpose and record transactions on the distributed ledger.
Campbell R. Harvey 2021 25https://www.medicalstartups.org/top/blockchain/
Health
Large number of startups• doc.ai Country: USA | Funding: $12.3M
We are an AI company with the mission to decentralize precision medicine on the blockchain. We believe that the biological profile of the near-future will be consumer-controlled, blockchain-based, AI-powered and OMICS-data-centric.
• Akiri Country: USA | Funding: $10mThe world's first network-as-a-service optimized for healthcare. Akiri Switch is a software-defined network (SDN) and secure routing protocol for healthcare data. This data, which Akiri never stores, spans the entire spectrum of health, wellness, and medical information. Akiri supports security, identification, authentication, compliance, analytics, and applications.Campbell R. Harvey 2021 26https://www.medicalstartups.org/top/blockchain/
Health
Large number of startups• Gem Country: USA | Funding: $10.4M
Gem develops blockchain applications for healthcare. The Gem Healthcare Network, developed on the Ethereum blockchain, will add security via permissioned blockchains in which patients control access and there is a shared ledger system in which every new change is recorded.
• Blockchain Health Country: USABlockchain Health Co. is a San Francisco-based software company that uses blockchain technology to create a direct connection between medical research and users. BHC allows users to share information directly to researchers using their platform built on the blockchain.Campbell R. Harvey 2021 27https://www.medicalstartups.org/top/blockchain/
Health
Large number of startups• Patientory Country: USA | Funding: $7.22M
Patientory is building a HIPAA-compliant blockchain powered health information exchange (HIE) intended to enable EMR interoperability and enhanced cybersecurity protocols.
• Embleema Country: USACountry: USA | Funding: $3.7MEmbleema’s blockchain network offers a novel way to put patients at the center of clinical research.
Campbell R. Harvey 2021 28https://www.medicalstartups.org/top/blockchain/
Health
40 more here
Campbell R. Harvey 2021 29https://www.disruptordaily.com/blockchain-market-map-healthcare/
Land rights/registry
Blockchain addresses• Certifying ownership increases legal and economic security• Reduction in fraud• Reduces costs of transaction (reduces role of middle people)• Improves efficiency (less time delay)• Reduces expropriation risk
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Land rights/registry
Many startups• https://chromaway.com/solutionsSwedish startup.
Campbell R. Harvey 2021 31
Land rights/registry
Many startups• https://cointelegraph.com/news/blockchain-registers-for-recording-
ownership-rights-around-the-world• For information on startups in 10 different countries
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Philanthropy, aid, donors
Blockchain addresses• Pledged aid does not get to the target because of fraud and inefficiency
($400b of aid comes from US alone)• Up to 10% is lost in transactions fees alone• Donors less willing to give because of lack of transparency (they don’t trust the
system)
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Philanthropy, aid, donors
Blockchain startups• https://disberse.com/Example project reduced the cost of transfer of UK donors’ funds to a women’s charity in Swaziland
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Philanthropy, aid, donors
Blockchain startups• http://ixo.foundation/Example project in South Africa whereby Ixo provided an app to securely measure pre-school attendance. This attendance was directly linked to UNICEF aid.
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Philanthropy, aid, donorsMany startups• https://www.trace
donate.com/Certified recipients of aid; Completely traceable and transparent
Campbell R. Harvey 2021 36https://v3.aid.technology/tracedonate/
Education
Blockchain addresses• Attendance• Achievement (transcripts, degrees, certificates)• Certification of teachers• Life-long learning and verification of accomplishments
Campbell R. Harvey 2021 40
Human rights
Blockchain addresses• Identity• Reduction in human trafficking• Certification of working conditions and labor practices
Campbell R. Harvey 2021 41
Water and sanitation
Blockchain addresses• Tracking and recording of water data (quantity and quality) in an immutable
way• More efficient market for water trading
Campbell R. Harvey 2021 42
Further information
See my podcast• https://www.man.com/maninstitute/social-value-of-cryptocurrencies
Campbell R. Harvey 2021 43