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Azure
Blockchain
1
Blockchain is a secure, shared, decentralized ledger
Shared
Secure
Ledger
Decentralized
2Let’s take a look at a few key concepts of blockchain
technology
Cryptographic Public and Smart
hashes private keys Transaction contracts
chains
3Asymmetric cryptosystems, public and private keys
Public Key Private Key
Publicly identifies the owner, allowing anyone to: Privately held, allowing the owner to:
• Validate the owner’s digital signature • Digitally sign messages, validated by others using
• Encrypt data so only the owner can decrypt it the public key
• Decrypt messages that were encrypted with the
public key
4These public and private keys facilitate transactions
ID of previous transaction that gave Bob at least 10 BTC
678b4f198d4dffa50a9f4ab3093bdb779565e6adce97ccae73144b321e460c7c
“Pay Alice 10 BTC”
Bob
1Q5zt3mBYEpKnDscoTtzQDbn5yJLBumECK
Alice’s public key
x 1MLcjWxKGBdLtNWFqC8BRt743R6hi7M1Q9
Signed with Bob’s private key
5Agreement on the order of transactions
Problem
Different No one trusts anyone else
ordering can
lead to double Solution
spending Accept proposals for transaction order
and reward winning proposals
6Smart contracts extend blockchains from just data to
code
Problem
Business How to trust that the right thing will happen in the future?
processes do
not complete
Solution
instantaneously Host immutable, deterministic code on chain
7Escrow today
Buyer Escrow Agent Seller
Alice Eve Bob
$
8Designate a new escrow agent
Escrow Smart Contract
Buyer Seller
Alice Bob
$
Eve
9Consortium Topology
Microsoft Confidential 10Webjet Uses Blockchain in First-Of-A-Kind
Travel Bookings Solution
Challenge Strategy Results
• Webjet handles thousands of hotel • Webjet and Microsoft • The use of blockchain removes the risk of data
bookings every day that pass through developed a first-of-a-kind inaccuracy, boosts security and efficiency, and
multiple operators. The high volume blockchain solution. enhances trust and accountability between
of transactions and number of parties • The solution creates secure, Webjet and its partners.
involved in each transaction can lead independent transaction • The solution gives Webjet a competitive edge
to discrepancies. records that all parties can and could set a new industry standard.
• Booking errors negatively affect customers’ see. Known as ‘Smart • Webjet has an exciting opportunity to grow
experiences and undermine trust between Contracts, they streamlining by facilitating transactions across the travel
Webjet and its partners, and can also have the booking and payment industry and selling its solution into other
serious financial consequences. process, and reducing errors. sectors.
“Microsoft’s ongoing investments in building the industry’s most trusted cloud platform around the principles of security,
privacy and control, compliance and transparency, along with its deep heritage in guiding businesses, including Webjet,
through periods of significant IT transformation made the decision to go on this journey with Microsoft a no-brainer.”
— John Guscic, Managing Director, WebjetMaersk | Secure marine insurance
Benefits
• Provide visibility into the location, condition, and
safety of high-value assets moving globally
• Streamline claims settlement
• Reduce reconciliation time and reduce errors
• Enable dynamic underwriting and pricing
• Reduce insurance premiums
“It is a priority for us to leverage technology to streamline and automate our interaction with the insurance market.
Insurance transactions are currently far too tedious and frictional. The distance between risk and capital is simply
too far”
— Lars Henneberg, VP, Head of Risk and Insurance of A.P. Moller-MaerskApplications have similar patterns, across industries
Banking and
Manufacturing Retail Insurance Capital Markets Government Health
Asset tracking Loyalty tracking Claims management Audit compliance Licensing and ID Personalized
medicine
Real-time auction Product provenance MBS/Property Bond issuance Benefits distribution
for supplier payments Records sharing
Logistics Trade finance Aid tracking
contracts management Fraud detection Compliance
Loan syndication Military security
Supply chain Digital rewards Automated Agricultural
transparency Post trade Voting
underwriting authentication
P2P selling settlement
Dynamic Copyrights
Ticket purchases Risk visualizations Global payments Pharmaceutical
commodities pricing purity
Derivatives trading
KYC/AML
Asset Transfer Cross-Organizational Workflow High Assurance AuditBlockchain is a journey – Azure supports every stage
Explore Build Extend Transform
The question Is blockchain the right fit? What do I need to get How do I connect to my What barriers should I
you’ll answer started? existing infrastructure? expect along the way?
How Microsoft The Azure Marketplace The simplified interface on Azure will make it easier to Microsoft and blockchain
can help offers a range of free tools Workbench makes it easier integrate blockchain with partners are overcoming
and templates to help you to create your proof of your existing infrastructure, the remaining obstacles of
experiment with blockchain concept apps, and workflows applying this cutting-edge
technology to enterpriseGet started now
Model your workflow Visit our Learn more at the Contact your account Join the conversation
and accelerate Azure Blockchain Azure Blockchain Blog team to connect with a on Azure Advisors
development with the Solutions Page blockchain expert
Azure Blockchain
WorkbenchDesign Result
Technical controls
Transactions are digitally signed Transactions can only be posted by the holder of the private key
Miners must solve proof of work Miners can’t easily rewrite new history (reduces forks)
New blocks reference prior block’s hashes Miners can’t easily rewrite old history (reduces forks)
Nodes validate all block contents Miners can’t propagate bad blocks across the network
Economic incentives
Fees only paid for valid blocks Miners tend to produce valid blocks
Fees only paid on longest chain Miners tend to follow the longest chain (reduces forks)
Miners paid in cryptocurrency Miners tend not to undermine their source of incomeCode
App App
Data
Operating
System
Hypervisor
Hardware
17
Classified as Microsoft ConfidentialCoco Framework
Foundation of blockchain for the
enterprise
Node 1 Node 2
Uses trusted HW (TEEs) to enable:
Ledger Ledger
• Confidentiality – Private data
• Scalability – Transaction throughput
• Latency – Transaction processing time Coco Framework Coco Framework
• Governance – Access & change
control Trusted Execution Trusted Execution
Environment Environment
Available in 2018 as open source for
integration into any ledger on-prem or in https://aka.ms/cocoframework
any cloud, for free
18Traditional methods of establishing trust across organizations
are inefficient
Intermediaries Manual verification
increase cost and reduce direct is time-consuming and
contact with consumers error-prone
risks of centralized infrastructureEnterprise needs a better approach
Reduce Cost Mitigate Risk Reimagine processes
Remove friction and allow direct Reduce security threats from Digitize processes beyond the four
interaction between parties fraud, hacking, tampering, and walls of your own business to
centralized control reshape market dynamicsCryptographic Hashes
Input Cryptographic hash function Digest
DFCD 3454 BBEA 788A 751A
Fox 696C 24D9 7009 CA99 2D17
The red fox jumps 0086 46BB FB7D CBE2 823C
over the blue dog ACC7 6CD1 90B1 EE6C 3ABC
The red fox jumps 8FD8 7558 7851 4F32 D1C6
ouer the blue dog 76B1 79A9 0DA4 AEFE 4819
The red fox jumps FCD3 7FDB 5AF2 C6FF 915F
oevr the blue dog D401 C0A9 7D9A 46AF FB45
The red fox jumps 8ACA D682 D588 4C75 4BF4
oer the blue dog 1799 7D88 BCF8 92B9 6A6C
21Blockchain transactions occur in chains
Owner 1’s Owner 2’s Owner 3’s
public key public key public key
Hash Hash Hash
Verify Verify
Owner 0’s signature Owner 1’s signature Owner 2’s signature
x 1MLcjWxKGBdLtNWFqC8B x KqC8GBtNWF1MLdLcjWxB x BtNW3MLcjWbCqC8G2BtN
Sign Sign
Owner 1’s Owner 2’s Owner 3’s
private key private key private key
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