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tomorrow’stransactionstoday
SmartContracts and identityBlockchain-ID+eID Café,April26th 2016
PascalVanHecke,Innopay
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2 SmartContracts and identity,PascalVanHecke,April26th2016.©InnopayBV
InnovationexpertsinPayments,DigitalIdentityandE-Business
• Foundedin2002
• Partners:ShikkoNijland&Douwe Lycklama
• HQinTheNetherlands,Amsterdam
• 20+consultantsplusInternationalnetworkofassociatedexperts
• Threecorepractices:Payments,DigitalIdentityandE-Business
• Strategy,co-creationandtransformation
• GeographicalfocusonEU
• Memberofa.o. EBA,ECPandEPCA
• FoundingmemberofHollandFintech
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DigitalIdentity
E-business• Internetenables services tobereachable viathedigitalchanneland causesbusiness toengageindigitaltransformation
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• Duetoplace-independent commerce itisbecoming anecessitytoidentify youronline customers
• Innopayworksfor several collaborative trust frameworks and alsohelpsorganisations todealwithonline identification, authentication and verificationprocesses of theircustomers
• Thematuring Internetand theenduringmobile revolutionchange contexts ofcommerce. Businesses andconsumers demand realtimeservices,anyplace anytime
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Agenda
SmartContracts?
SmartcontractsandEthereum
Ethereum andidentity
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tomorrow’stransactionstoday
Red sends 1.1 to green
Blue sends 3 to green
Grey sends 1 to red
Blue sends 3 to red
Red sends 1.1 to grey
Red gets 50 for the puzzle!
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SmartcontractsinBitcoin
• Containsadeliberatelysimplescriptinglanguage• Atransaction=lockingBitcoinanddescribinghowitcanbeunlocked• Examples:
− Multisig:multiplesignaturesareneededtounlock− CheckLocktimeVerify:Bitcoinonlyspendableatsomepointinfuture− ….
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11 SmartContracts and identity, PascalVanHecke,April26th2016.©InnopayBV
SmartcontractsinBitcoin
• Containsarelativelysimplescriptinglanguage• Atransaction=lockingBitcoinanddescribinghowitcanbeunlocked• Examples:
− Multisig:multiplesignaturesareneededtounlock− CheckLocktimeVerify:Bitcoinonlyspendableatsomepointinfuture− ….
Altcoin/Metacoin X
More ”opcodes”, more functionality
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Ethereum:anythingisprogrammable
“Classic“blockchains
• Addresses
• Balancewith“native”coin
• Transactions
• Blocks:transactionsbundled
Ethereum:
• Addresses• +datastorage• +code• BalancewithEther• +application-specific tokens
withspecificbehaviour• Transactions• +creationofcontractcode• +callingcontractcode• Blocks:“transactions”• +”newstate”ofentiresystem
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Slowandprimitive,but…
Promise:
A15-yearoldcandeploybusinesslogicthatis:
• Verifiable• Immutable• Untamperable• Untouchable
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Smartcontractpattern
1Lockthingofvalueincontract
2Contractcodedeterminesredistribution
3Basedoninformation thatisnotyetknown
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22 SmartContracts and identity, PascalVanHecke,April26th2016.©InnopayBV
Smartcontractpattern
1Lockthingofvalueincontract• Nativecrypto• Tokensrepresentingvalue…or
abilities2Contractcodedeterminesredistribution
3Basedoninformation thatisnotyetknown
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23 SmartContracts and identity, PascalVanHecke,April26th2016.©InnopayBV
Smartcontractpattern
1Lockthingofvalueincontract• Nativecrypto• Tokensrepresentingvalue…or
abilities2Contractcodedeterminesredistribution
3Basedoninformation thatisnotyetknown• Randomness• Actor• “Oracle”
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Developers
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Smartcontractsandidentity
”Proxycontract”
• Actingonbehalfofindividual(…orgroup,groupofcontracts...)
• Controlpolicyisinthecontractitself
• Examples:− Multisig/multifactor− Revokeandrestorepolicy
− compromise,insanity…− Policygovernance
->Roleoftrustedparties!
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Smartcontractsandidentity
However…
• Flexibility• Nostandardsyet• Everyapplicationinventsitsown
conceptofpermissions,groups,attributes…
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Uport (notyetreleased)
User-centricidentity
• Cryptographicallytiesattributestoidentifier (proxycontract)
• SigningkeyandAuthenticationkeyaspropertyofaproxycontract
• Attributesaresignedbyidentityproviders (orpeers)
• Attributesaredisclosedtorelyingpartiesviapeer-to-peer protocol(noIDPsurveillance)
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Uptake
1Research!• Scaling:sharding• Consensusalgo:mining
2Publicorpermissioned• Privacy/Confidentiality• Finality• Accountability
3Adoption?• Uptakeofpublicchainsuncertain• Bizmodelof
permissioned/consortium?