Blockchain Meetup

Blockchain for payment processing

Thu, 15 February 2018, 18:30 - 21:30
The Steel Yard, 13-16 Allhallows Ln, London, EC4R 3UL

Can we design permissionless distributed ledgers for payment processors without compromising security?

Can we design permissionless distributed ledgers for payment processors without compromising security?
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Blockchain for payment processing
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Advocates proclaim that blockchain technology will help financial organizations speed up settlements and ensure the certainty of ownership, while improving transaction transparency. However, there are several technological challenges that continue to hinder the implementation of blockchain with payment processors. Scalability is one of, if not the biggest, issue in this regard.

How do we ensure that extending the scope of blockchain applications won’t negatively affect the speed of operations? Moreover, how we safeguard against security breaches?
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Secure distributed ledgers

Designing secure permissionless distributed ledgers for centralized payment processors is challenging. The majority of existing ledgers are unable to scale-out; those that are able to have significantly compromised security and decentralization.

We invite you to join us in discussing the dilemma of security and scalability, and in examining some of the recently proposed solutions -- specifically OmniLedger. Philipp Jovanovic will be providing insight into the scale-out distributed ledger that is able to preserve long-term security under permissionless operation.

OmniLedger is said to ensure strong correctness and security by using a bias-resistant public randomness protocol combined with an efficient cross-shard commit protocol.
About the speakers:
Philipp Jovanovic is a cryptographer and post-doctoral researcher at the Swiss Federal Institute of Technology Lausanne (EPFL). His research interests include applied cryptography, information security, and decentralized systems. Philipp is a member of the Initiative for CryptoCurrencies and Contracts (IC3) and a scientific advisor to the DFINITY project.

Mustafa Al-Bassam is a PhD researcher at the Information Security Research Group of the Department of Computer Science at University College London, where his research interests include the intersections of peer-to-peer systems, distributed ledgers and information security. He is also an advisor to Cognosec, an information security services company.
Moderator: Laurenzo W. Mefsut
Is the founder of The New Athens, a blockchain institute working towards the public good through enlightened self interest and digital direct democracy. He joined the blockchain revolution in 2015 from a background in art and academia in Cambridge. Through 2017 he evangelised distributed democracy in New York and has returned to London to build responsible civic institutions on the blockchain.


Philipp Jovanovic
Cryptographer, Postdoctoral Researcher at École polytechnique fédérale de Lausanne (EPFL)
Laurenzo W. Mefsut
The event will be moderated by Laurenzo W. Mefsut, Founder of The New Athens
Mustafa Al-Bassam
Researcher at University College London


6:30 pm — 7:00 pm
7:00 pm — 7:15 pm
Binary District collaborative technology community
Fostering learning and innovation
7:15 pm — 7:30 pm
The State of Blockchain Industry: An Overview
Laurenzo W. Mefsut
7:30 pm — 8:00 pm
OmniLedger: A Secure, Scale-Out Decentralized Ledger
Philipp Jovanovic (Cryptographer, Postdoctoral Researcher at École polytechnique fédérale de Lausanne (EPFL))
8:00 pm — 8:30 pm
Chainspace: A Sharded Smart Contracts Platform
Mustafa Al-Bassam (Researcher at University College London)
8:30 pm — 8:45 pm
Fireside chat with Philipp Jovanovic and Mustafa Al-Bassam
Mustafa Al-Bassam (Researcher at University College London), Philipp Jovanovic (Cryptographer, Postdoctoral Researcher at École polytechnique fédérale de Lausanne (EPFL))
8:45 pm — 9:30 pm