2. Jan H Jansen E-mail: jan.jansen@han.nl
Lecture Blockchain
Jan H Jansen

3. Knowledge Distribution Centres Logistics
Dutch National Centre of Expertise on Logistics
Based on 6 Universities of Applied Science with Logistics Research Departments, resulting in
6 Knowledge Distribution Centres across the Netherlands:
North Holland
North East Netherlands
Rotterdam area
Gelderland
Zeeland / North Brabant
Limburg
North Holland
North East Netherlands
Rotterdam area
Gelderland
Zeeland North Brabant
Limburg

4. Knowledge Distribution Centre on Logistics gelderland
Main Themes
Knowledge Distribution Centre on Logistics gelderland
Healthcare Logistics
Transport and Distribution of
Fast Moving
Consumer Goods
Training, tools
Training, tools
Long term goal:
Innovative SCM in Logistics Business Practice
Fashion
Community of
Practice
Sustainable
Transport
Community of
Practice
Up-to-date qualifications for labour market
Freight Health
Care Logistics
Community of
Practice
research
Future: Patient
Logistics
Community of
Practice
applied
Future:
Food
Community of
Practice
Goal:
Effective knowledge transfer to students
research
applied

5. Source:
Date: 13 Dec 2017

6. Source:
Date: 13 Dec 2017

7. Two months later: Source:
Date: 16 Febraury 2018

8. How will Bitcoin prices behave?
Fundamental analysis
Technical analysis

9. Fundamental analysis: What determines the value of a Bitcoin / Cryptocurrency
Relative scarcity
Supply factors
Demand factors
Risk factors
Behavioural factors (FOMO)
Cost factors ….

10. Pricing of Bitcoins with a fixed supply (BTC 16.8 mln)

11. Technical Analysis Bitcoin (Source: https://cointelegraph

12. Bit Coin Data (https://bitcoincharts
Bit Coin Data ( Date: 13 Dec 2017)
Date
Weighted Price
BTC Index
BTC 1 = USD 3.45
100
BTC 1 = USD 16,611.09 ?

13. Bit Coin Data (https://bitcoincharts
Bit Coin Data ( Date: 13 Dec 2017)
Date
Weighted Price
BTC Index
BTC 1 = USD 3.45
100
BTC 1 = USD 16,611.09
4814,80
Relative change?

14. Bit Coin Data (https://bitcoincharts
Bit Coin Data ( Date: 13 Dec 2017)
Date
Weighted Price
BTC Index
BTC 1 = USD 3.45
100
BTC 1 = USD 16,611.09
4814,80
Relative change of %

15. Bit Coin Data (https://bitcoincharts
Bit Coin Data ( Date: 13 Dec 2017)
Date
Weighted Price
BTC Index
BTC 1 = USD 3.45
100.00
BTC 1 = USD 16,611.09
Relative change of: = 100 * (1+p/100)^6
𝑝= , −1 ∗100 = 90.73%

16. Bit Coin Markets Spot market Future market
Sunday 10 December 2017: The Chicago Board Options Exchange launched futures trading for bitcoin
Functions:
Speculation
Arbitrage
Hedging

17. Bitcoin spot markets (±80) (Source: https://bitcoincharts

18. Bitcoin the new (supranational) money
Bitcoin the new (supranational) money? > Bancor (Keynes, 1944, Bretton Woods conference) > Numéraire (Walras, 1874, Elements of pure economics)
Money
Coins
Banknotes
Demand deposits
Digital money (Bitcoins)
Money functions:
Medium of exchange
Measure of value
Store of value
Transactions motive
Precautionary motive
Speculative motive

19. Some YouTube videos https://www.youtube.com/watch?v=IMJmd_tNhlM
(partly in Dutch)

20. What are futures?
Futures contracts allow investors to agree to buy a certain amount of a commodity, bond or share at a specific price at a designated time in the future, hence the name. It means investors can bet on whether they believe a particular commodity – in this case bitcoin – will rise or fall by a specified future date. They are generally used in commodity markets to hedge against major fluctuations in prices, such as unexpected weather conditions hitting crops. But they are also well established in equity markets, with trading on individual companies and indices such as the FTSE 100 and S&P 500. There are risks, mainly when investors use debt to finance their futures speculation and their bet goes the wrong way. Source:

21. Cboe XBT Bitcoin Futures Trading Data (Source: http://cfe. cboe
Cboe XBT Bitcoin Futures Trading Data (Source: 13 December 2017)
Symbol
Expiration
Last
Change
High
Low
Settlement
Volume
GXBT
0.0
XBT/F8
01/17/2018
424
XBT/G8
02/14/2018 1
XBT/H8
03/14/2018 19

22. Cboe XBT Bitcoin Futures
Bitcoin futures are now available for trading on the Cboe Futures Exchange, LLC (CFE). CFE launched trading in Cboe bitcoin futures on December 10 under the ticker symbol "XBT" (contract specifications | fact sheet.) This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.
(Source: 13 December 2017)

23. Cboe XBT Bitcoin Futures
(Source: 13 December 2017)

24. Blockchain
Financial
Cypto currencies
Bitcoin
Ethereum
Altcoins
Non-financial
Energy
Logsitics data
Etc.

25. Integrated reporting model (The IIRC, 2017)

26. Bitcoin Exchanges & Wallet (Source: bitcoin.com)

27. Risks No central bank involved to secure the value
Price volatility (what / who is determing the value in terms of $ or €?)
Security of the IT system
Cyber attacks
Behavioural finance
Fear Of Missing Out (FOMO)
Illegal activities
Gambling
Drugs
Dark room (of the internet)
Etc

28. Blockchain URL Topic http://blocklab.nl/
Information on blockchain applications
Blockchain University of Delft
How to get an account in Bitcoins (wallet)
Chicago Board Options Exchange
Dutch Central Bank (risks & opportunities)

30. A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data.
Harvard Business Review defines it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."
For use as a distributed ledger, a blockchain is typically managed by a peer- to-peer network collectively adhering to a protocol for validating new blocks.
Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Source:

31. Source: http://www.blockchain-lab.org/#publications

32. Hash code Example: 6b1f6fde5ae60b2fe1bfe50677434c88
Source:

33. General ledger of company X (focal company)
Assets
Liabilities
Cash
Accounts payable (A/P)
Link to supplier Y
Accounts receivable (A/R)
Link to customer Z

34. General ledger of company Z (customer)
Assets
Liabilities
Cash
Accounts payable (A/P)
Link to supplier X
Accounts receivable (A/R)
Link to customer …

35. General ledger of company Y (supplier)
Assets
Liabilities
Cash
Accounts payable (A/P)
Link to supplier …
Accounts receivable (A/R)
Link to customer X

37. A basic pattern of the supply chain
Company
Y (supplier)
Company X
(focal company)
Company Z
(customer)
Goods
Services
Money
Information

38. Knowledge Distribution Centres Logistics
Dutch National Centre of Expertise on Logistics
Based on 6 Universities of Applied Science with Logistics Research Departments, resulting in
6 Knowledge Distribution Centres across the Netherlands:
North Holland
North East Netherlands
Rotterdam area
Gelderland
Zeeland / North Brabant
Limburg
North Holland
North East Netherlands
Rotterdam area
Gelderland
Zeeland North Brabant
Limburg

39. Knowledge Distribution Centre on Logistics gelderland
Main Themes
Knowledge Distribution Centre on Logistics gelderland
Healthcare Logistics
Transport and Distribution of
Fast Moving
Consumer Goods
Training, tools
Training, tools
Long term goal:
Innovative SCM in Logistics Business Practice
Fashion
Community of
Practice
Sustainable
Transport
Community of
Practice
Up-to-date qualifications for labour market
Freight Health
Care Logistics
Community of
Practice
research
Future: Patient
Logistics
Community of
Practice
applied
Future:
Food
Community of
Practice
Goal:
Effective knowledge transfer to students
research
applied