X

Download Impact of Blockchain on IT Audit PowerPoint Presentation

SlidesFinder-Advertising-Design.jpg

Login   OR  Register
X


Iframe embed code :



Presentation url :

Home / Education & Training / Education & Training Presentations / Impact of Blockchain on IT Audit PowerPoint Presentation

Impact of Blockchain on IT Audit PowerPoint Presentation

Ppt Presentation Embed Code   Zoom Ppt Presentation

PowerPoint is the world's most popular presentation software which can let you create professional Impact of Blockchain on IT Audit powerpoint presentation easily and in no time. This helps you give your presentation on Impact of Blockchain on IT Audit in a conference, a school lecture, a business proposal, in a webinar and business and professional representations.

The uploader spent his/her valuable time to create this Impact of Blockchain on IT Audit powerpoint presentation slides, to share his/her useful content with the world. This ppt presentation uploaded by sfpptteam in Education & Training ppt presentation category is available for free download,and can be used according to your industries like finance, marketing, education, health and many more.

About This Presentation

Impact of Blockchain on IT Audit Presentation Transcript

Slide 1 - Amy Kemp, CISA, CRISC, CISSP Senior June 6, 2017 Amy.Kemp@elliottdavis.com 980.201.3174 © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Impact of Blockchain on IT Audit
Slide 2 - © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC This material was used by Elliott Davis Decosimo during an oral presentation; it is not a complete record of the discussion. This presentation is for informational purposes and does not contain or convey specific advice. It should not be used or relied upon in regard to any particular situation or circumstances without first consulting the appropriate advisor. No part of the presentation may be circulated, quoted, or reproduced for distribution without prior written approval from Elliott Davis Decosimo.
Slide 3 - Agenda © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Blockchain Technology Overview Three Levels of Blockchain, Tokens Alliances and Industry Adoption Smart Contracts Identity Management Criticism and Challenges Impact on the IT Audit Function Learning and Engagement
Slide 4 - Blockchain Overview © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Blockchain technology is a digital innovation that is poised to significantly alter financial markets within the next few years, within a cryptographic ecosystem that has the potential to also significantly impact trusted computing activities and therefore cybersecurity concerns as a whole.
Slide 5 - Participant Exposure © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC How many of you: Have heard of bitcoins? Own cryptocurrency? Feel you understand the underlying blockchain technology? Feel you can summarize for us the benefits of the “trust economy”? Are involved in projects that involve blockchain technology implementation or related activities?
Slide 6 - Where It All Started © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Blockchain technology was first introduced in a whitepaper entitled: “Bitcoin: A Peer-to-Peer Electronic Cash System,” by Satoshi Nakamoto in 2008. No reliance on trust Digital signatures Peer-to-peer network Proof-of-work Public history of transactions Honest, independent nodes control majority of CPU computing power Nodes vote with CPU computing power Rules and incentives enforced through consensus mechanism https://bitcoin.org/bitcoin.pdf
Slide 7 - Cryptocurrency Summarized © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Bitcoin was the first digital, i.e., cryptocurrency A maximum of 21 million Bitcoins can be generated Just as with real world mining, energy must be invested to solve complex mathematical problems by which systems earn Bitcoins https://www.cryptocoincharts.info/coins/info claims to be indexing 4,220 cryptocurrencies Most circulated: Bitcoin, Ethereum, Litecoin
Slide 8 - The Technology Behind Bitcoin © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Think of Bitcoin as an electronic asset (as well as a digital currency) A network of computers keeps track of Bitcoin payments, and adds them to an ever-growing list of all the Bitcoin payments that have been made, called “The Bitcoin Blockchain” The file that contains data about all the Bitcoin transactions is often called a “ledger” Bitcoin value is created through transaction processing, referred to as “mining,” which is performed by distributed processors called “nodes” of the peer-to-peer network A Gentle Introduction to Bitcoin by Antony Lewis, https://bravenewcoin.com/assets/Reference-Papers/A-Gentle-Introduction/A-Gentle-Introduction-To-Bitcoin-WEB.pdf
Slide 9 - Mining Evolution © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Mining is the process whereby value is created through transaction processing that occurs on nodes of the network. In 2009, one could mine 200 Bitcoins with a personal, home computer. In 2015, it would take about 98 years to mine just 1 Bitcoin. Today there is almost no money to be made through traditional home mining. ASIC (Application Specific Integrated Circuit) has been designed strictly for mining Bitcoins. Groups of miners have formed mining pools, with each being paid their relative share for their contribution to the work performed. My Dirty Little Bitcoin Secrets by Ofir Beigel, www.99bitcoins.com
Slide 10 - Three “Levels” of Blockchain © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Storage for digital records Exchanging digital assets (called tokens) Executing smart contracts Ground rules – Terms & conditions recorded in code Distributed network executes contract & monitors compliance Outcomes are automatically validated without third party Tech Trends 2017, The Kenetic Enterprise, “Blockchain: Trust economy”, Deloitte University Press, 2017
Slide 11 - A General Discussion about Tokens © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC A broader use is supported by the digital infrastructure introduced through Bitcoin, as represented by “tokens”. A “token” can be defined as a “scarce digital asset based on underlying technology inspired by Bitcoin.” Tokens may use similar codebases but different blockchain databases. Ethereum was Bitcoin-inspired but has its own blockchain and is engineered to be more programmable. Tokens can be issued on top of the Ethereum blockchain. Token buyers are buying private keys, which are similar to API keys, but can be transferred to other parties without consent. “Thoughts on Tokens”, Balaji S. Srinivasan and Naval Ravikant
Slide 12 - Tokens, continued © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Tokens have a value and therefore a price. Tokens are a new model for technology and can be an alternative to equity-based financing. Tokens do not dilute capital. They introduce a huge increase to buyer base and time-to-liquidity. Token launches differ from equity sales; however, they can be issued as a way to share profits. Tokens can be sold internationally over the internet and are always open for business. Tokens decentralize the process of funding technology. Thoughts on Tokens, Balaji S. Srinivasan and Naval Ravikant
Slide 13 - Tokens, continued © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Tokens enable a better-than-free new business model. Tokens will introduce the rise of the “tech savvy senior executive.” Tokens accommodate immediate custody without an intermediary. Tokens can be extended to hardware, as part of the internet of things. Thoughts on Tokens, Balaji S. Srinivasan and Naval Ravikant
Slide 14 - Smart Contracts © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Consensus protocols are key to determining the sequence of actions resulting from the contract’s code. This enables peer-to-peer trading of everything from renewable energy to automated hotel room bookings. “Contracts Get Smarter with Blockchain”, CIO Journal, The Wall Street Journal, World Trade Organization, International Trade Statistics 2015, 2015, p. 41. Current paper-based systems drive $18 trillion in transactions per year.
Slide 15 - Hyperledger © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, IoT, supply chain, manufacturing, and technology. Business Blockchain Frameworks are hosted with Hyperledger. Hyperledger addresses important features for a cross-industry open standard for distributed ledgers. The Linux Foundation hosts Hyperledger as a Collaborative Project under the foundation.  To learn more, visit: https://www.hyperledger.org/. www.hyperledger.org
Slide 16 - Hyperledger Projects © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC A few of the Hyperledger Projects include: Hyperledger Burrow - Permissible smart contract machine with a modular blockchain client, built in part to the specification of the Ethereum Virtual Machine (EVM) Hyperledger Fabric - Foundation for developing plug-n-play solutions within a modular architecture Hyperledger Iroha - Simple and easy blockchain framework designed to be incorporated into infrastructure projects requiring distributed ledger technology Hyperledger Sawtooth - A modular platform for building, deploying, and running distributed ledgers
Slide 17 - Ethereum Alliance © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third party interference. The Ethereum project was bootstrapped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from individuals and organizations across the globe. www.ethereum.org
Slide 18 - Ethereum Tools © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Several Ethereum offerings include: The  Ethereum Wallet, which is a gateway to decentralized applications on the Ethereum blockchain, allowing users to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy and use smart contracts Design and issue your own cryptocurrency/traceable token Kickstart a project with Crowdsale www.ethereum.org
Slide 19 - What is Ether? © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Ether is the crypto-fuel for the Ethereum network. Ether is a necessary element - a fuel - for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations, functioning as the incentive that ensures that developers will write quality applications, and that the network remains healthy. The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. Developers who intend to build apps that will use the Ethereum blockchain need ether. Users who want to access and interact with smart contracts on the Ethereum blockchain also need ether. www.ethereum.org
Slide 20 - Cross-Industry Adoption © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Sectors leading the way in blockchain implementation: Consumer products Manufacturing Technology Media Telecommunications Health care Life sciences Thirty-nine percent of the senior executives at large U.S. companies initially surveyed indicate they have little or no knowledge about blockchain technology. Many deemed it to be crucial for their companies and industries. Forty-two percent believe it will disrupt their industries. “Blockchain Adoption Varies by Industry”, CIO Journal, The Wall Street Journal
Slide 21 - Financial Services Industry © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC As noted by A. Michael Smith in “Creating Assurance in Blockchain,” trust and efficiency are the main value drivers for any use case. The finance world is driven by technology. Tracking risk and monitoring compliance with laws and regulations within an increasingly complex cybersecurity environment requires considerable time and resources. The financial services industry immediately saw opportunities in blockchain and has been investing heavily in its usage, primarily as a part of private implementations. Creating Assurance in Blockchain, Volume 2, 2017, by A. Michael Smith Banking on change: How to respond to new expectations for audit committees by PWC Internal Audit Foundation, Douglas Anderson, CIA, CRMA, Cassian Joe, and Klaas J. Westerling
Slide 22 - Identity Management © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC The IT audit is broadly concerned with identity management concerns. Protecting access to data, and the systems that are in place to process, store, and report on that data, requires ongoing resource dedication. Multiple solutions are available, all of which require configuring and managing multiple identifiers for an individual’s various identities. Identity management is an area that will certainly be impacted by widespread use of private keys to secure transactions.
Slide 23 - Distributed Access Management © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Creating an identity on blockchain can give individuals greater control over who has their personal information and how they access it Areas impacted include passports, e-residency, birth certificates, wedding certificates, IDs, online account logins, etc Digital ID’s can provide digital watermarks that can be assigned to every online transaction of any asset “21 Companies Leveraging Blockchain for Identity Management and Authentication” by Elena Mesropyan, https://letstalkpayments.com/22-companies-leveraging-blockchain-for-identity-management-and-authentication/
Slide 24 - Protecting Private Keys © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Within the blockchain, trust relies on the safekeeping of private keys, in support of a truly distributed identity management Ultimately, that safekeeping resides with the actions taken by individuals to secure their private key For cryptocurrency traders, one frequently sees the recommendation to write one’s private key down on a piece of paper and put it up for safekeeping in, for example, a safe deposit box
Slide 25 - Digital ID Solutions © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC May 24, 2017, saw the release of a Digitial ID solution by Netki, a California blockchain startup Released at Consensus 2017, this is a highly-anticipated Digital ID smartphone app that uses Hyperledger blockchain to provide decentralized, open-source identity management Approved by governments, fully Anti-Money Laundering (AML) and Know Your Customer (KYC) inclusive https://bravenewcoin.com/news/netki-launches-digital-id-solution-which-bitt-is-using-with-central-banks-in-the-caribbean/
Slide 26 - Criticism and Challenges © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Critics have cited the following blockchain challenges: Nascent technology Uncertain regulatory status Large energy consumption Control, security and privacy Integration concerns Cultural adoption Cost Challenges associated with audit, taxes, and compliance Creating Assurance in Blockchain, Volume 2, 2017, by A. Michael Smith Deloitte’s Blockchain technology: 9 benefits & 7 challenges, https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/blockchain-technology-9-benefits-and-7-challenges.html
Slide 27 - Energy Consumption © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC An area of heavy criticism has to do with the vast amounts of energy necessary to process and store transactions, especially as the use of blockchain technology increases The Bitcoin blockchain network’s miners are attempting 450 thousand trillion solutions per second in efforts to validate transactions, using substantial amounts of computer power Note that there are also opportunities to decentralize the energy grid Wasted resources: Mining Bitcoin wastes huge amounts of energy ($15million/day) Deloitte’s Blockchain technology: 9 benefits & 7 challenges, https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/blockchain-technology-9-benefits-and-7-challenges.html Blockchain in the Energy Sector: Institutional Disruption? By Marius Buchmann http://www.theenergycollective.com/enerquire/2402120/blockchain-energy-sector-institutional-disruption
Slide 28 - Impact on the IT Audit Function © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Although the technology is still in its infancy, boundless usage opportunities exist The identity management landscape is likely to shift dramatically There is sure to be evolution within IT audit as various use cases unfold Features that create trust could drive unachievable overhead costs Compliance burden should eventually be eased as the technology is adopted, but this requires regulatory updates, which could take a while Tech Trends 2017, The Kenetic Enterprise, “Blockchain: Trust economy”, Deloitte University Press, 2017
Slide 29 - Learning and Engagement © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Additional opportunities: Organizations/alliances that offer the ability to connect with a spectrum of opinions and perspectives: Ethereum Alliance – www.ethereum.org Hyperledger Community – www.hyperledger.org Offers Working Group Meetings Join or participate in the cryptocurrency exchange marketplace. https://coinsbank.com/ https://www.ethereum.org/ether
Slide 30 - © Elliott Davis Decosimo, LLC © Elliott Davis Decosimo, PLLC Amy Kemp, CISA, CRISC, CISSP Email: Amy.Kemp@elliottdavis.com Phone: 980.201.3174 Website: www.elliottdavis.com Elliott Davis Decosimo provides comprehensive assurance, tax and consulting solutions to diverse businesses, organizations and individuals. With a network of forward-thinking professionals in major U.S. markets and alliance resources across the globe, the firm ranks among the top 30 and fastest-growing accounting firms in the U.S. Visit elliottdavis.com for more information.
 

Frequently Asked Questions

> About SlidesFinder?

Slidesfinder is a website that allows users to upload and share their PowerPoint presentations online. It provides a platform for individuals and businesses to share their ideas and knowledge through presentations, and for others to view and download these presentations for educational or professional purposes.
Slidesfinder offers a wide range of presentation topics and categories, including business, education, science, technology, health, and more. Users can also search for presentations using keywords, tags, or by category. The website provides tools to create professional presentations with rich media, animations, and graphics.



One of the key features of Slidesfinder is its user-friendly interface, which allows users to easily upload, view, and share presentations. Users can also embed their presentations in their websites or blogs using the website's embed code feature.
Slidesfinder also offers premium services, such as the ability to create private presentations and to download presentations in high-quality formats. However, the basic features of Slidesfinder are free to use, making it accessible to anyone who wants to share their ideas and knowledge through presentations.

> How do I register with SlidesFinder?

Go to registration page (you can see signup link on top of website page) https://www.slidesfinder.com/signup . If you have facebook/gmail account them just click on SIGN IN WITH FACEBOOK OR SIGN IN WITH GOOGLE button, by this you will be a registered member of slidesfinder without filling any form, required detail automatically will be fatch from your account. If you do not a Facebook account, then click on "Signup". Fill all required fields and you will be a registered member of slidesfinder.

> Is slidesfinder account confirmation is mandatory?

Yes it is mandetory to active your account to login.

> Do I need to signup/login on SlidesFinder before uploading a PowerPoint presentation?

Yes, you need to login with your account before uploading presentation. Your username will be displayed on your uploaded presentation. Your registered email id is needed for sending your stats of uploaded presentation.

Slidesfinder is a sharing website for PowerPoint presentations search and share. Find your interest in the form of powerpoint presentations on slidesfinder and save your valuable time . On Slidesfinder you get presentations from our huge library of professional ppt presentations. We believe in making your search INFORMATIVE and FUN. Find your best ppt presentation from a pool of PowerPoint presentations stacked under important industry categories like business & management, heath & Wellness,eduction & training etc. We provide unique informative PowerPoint presentation for marketers, presenters and educationists. These professional PowerPoint presentations are uploaded by professionals from across numerous industry segments.These ppt presentations are available for FREE download.

Not just finding your interest, but facilitate you broadcast your interest. We have created this platform for easy sharing of PowerPoint presentations, ensuring that these presentations get maximum exposure. Create your slidesfinder account and upload PowerPoint presentations for free, share on social media platforms and BUILD YOUR CROWD WITH PRESENTATION !!

The Great Buddha says, "Share your knowledge.It’s a way to achieve immortality"! So, start sharing knowledge and we are here to make that immortal !!

© 2013-2024 SlidesFinder. All rights reserved.

Re-productivity of content are not allowed. Without prior written permission from author, commercial use of any content is illegal.