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What is the Blockchain and why you should care
| 7-6-2017 | Carlo de Meijer | treasuryXL |
Blockchain
Blockchain is an immutable digital database or ‘distributed ledger’ that allows multiple parties to transfer and store information (records) securely and reliably, shared via a peer-to-peer network of computers. There are public (or permissionless) blockchains where everybody is free to participate and private (or permissioned) distributed ledgers where only selected parties may enter the network.
The ledger is maintained collectively by all participants in the blockchain system based on a set of generally agreed and strictly applied rules. It enables digital transactions to be validated quickly and to be securely maintained through cryptography, computational power and network users without the need for a trusted third party.
In addition to transactions, blockchain has also the ability to run so-called smart contracts, to be coded and connected in such a way that the contract automatically executes an event if certain preconditions are met. Smart contracts could be used in real estate transactions to transfer title and release escrow when ownership is confirmed. Peer-to-peer insurance is potentially another use case.
Main characteristics
What are the main characteristics of a blockchain?
Blockchain has special qualities that makes it better than traditional databases: trusted, decentralised, shared, secure and automated.
· Trusted: the distributed nature of the network requires computers servers to reach consensus, which allows for transactions to occur between unknown parties in a trusted way.
· Decentralised: Blockchain allows to trade directly with any counterparty in a secure, fast and cost effective way, without making use of a central authority or third party intermediaries (middlemen) to approve transactions and set rules.
· Shared: servers or nodes, maintain the entries (known as blocks) and every node sees the transaction data stored in the blocks when created. Each counterparty has its own copy of the same ledger. It allows anyone to obtain an accurate view.
· Secure: the database is built to be immutable and irreversible, which means that there is inherent security. Posts to the ledger cannot be revised or tampered with. The information is tamper-proof and visible for all parties involved.
· Automated: Software is used to generate and record information about the transaction (when it took place, and the chronological order of all transactions). This results in a chain of information, stored in a so-called block; hence the name blockchain.
Use cases
What are use cases for blockchain?
As the blockchain can be used to store and send anything of value, applications may be numerous. These do not limit to financial transactions such as payments, remittances, supply chain finance, securities settlement, stock trading etc. The potential may well be beyond the financial sector ranging from securing intellectual property, health records, land registry and ownership records, marriage contracts, identity management, voting records, vehicle registries, tax collection etc.
What are the benefits of blockchain?
Conclusion
There are many benefits to be gained from using blockchain technology. Immutability, coupled with its immediacy, assured provenance and transparency are core blockchain attributes. Removing the middlemen for transaction increases the speed and eliminates transaction fees for consumers and institutions alike. Other business benefits are also relatively easy to imagine, such as in facilitating identity authentication, privacy, access management, regulatory compliance.
Carlo de Meijer
Economist and researcher
Boek release: Discounted Cashflowmethode – Achtergronden en aandachtspunten
| 6-6-2017 | Peter Schuitmaker | treasuryXL |
Medio juni verschijnt een nieuw boek van onze expert Peter Schuitmaker met de titel ‘Discounted Cashflowmethode’. Dit is zijn tweede boek. Eerder publiceerde hij ‘Mijn bedrijf verkopen ‘. Wij hebben hem verzocht om ons alvast meer te vertellen over dit nieuwe boek en de daarin beschreven methode, die van belang is bij het verkoop of de overdracht van een bedrijf.
DFC methode
Bedrijfswaardering is een veel voorkomend vraagstuk. Denk aan situaties van bedrijfsoverdracht, uitkoop van een aandeelhouder, management buyout, bedrijfsopvolging binnen de familie, boedelscheiding, enzovoorts. In de literatuur vinden we een grote verscheidenheid aan methoden. De DCF methode geldt echter als de meest zuivere benadering.
Hierbij worden toekomstige kasstromen op een of andere manier bepaald en deze worden op een of andere manier contant gemaakt. Maar: hoe zit dat nu met die ‘op een of andere manier’?
Het boek
In de praktijk van bedrijfswaardering worden veel fouten gemaakt. Vaak worden de technieken onjuist of onvolledig toegepast. Of verkeerde uitgangspunten gehanteerd. Dat roept onnodig vragen op over de juistheid van de waarderingsuitkomst.
Dit boek behandelt de achtergronden en aandachtspunten van de DCF methode. Hierbij komen diverse varianten aan bod, zoals de WACC methode, de Adjusted Present Value APV methode en de Cash To Equity methode. De theorie wordt behandeld aan de hand van een praktische casuspositie.
Mijn boek biedt grip op de reken technische aspecten. Maar belangrijker, de keuzes en overwegingen bij het toepassen dan de DCF methode. Het helpt de lezer om een DCF waardeanalyse te doen. Maar ook kunnen zo waarderingsrapporten van derden kritisch tegen het licht worden gehouden. Om zo de juiste kanttekeningen te kunnen plaatsen.
Bestelinformatie
Auteur: Peter Schuitmaker
Uitgever: BBO&F Breda
ISBN: 978-90-826156-2-3
Prijs: €19,50 incl. BTW
Paginas: 92
Verschijnt: medio juni 2017
Te bestellen via www.bboenf.nl/boeken
Peter Schuitmaker
Registered Advisor for Business Transfer and Succession
Meer artikelen van deze auteur:
Pre exit strategie wint aan populariteit
Het belang van cash management in de aanloop naar bedrijfsoverdracht
Breakfast Session: Cash Flow Forecasting
| 2-6-2017 | Olivier Werlingshoff | Proferus BV | Sponsored content |
Proferus helps companies enhance their forecasting processes to fully take advantage of new opportunities and to get in control over their cash flows. Proferus will host their first breakfast session of a series dedicated to CFOs, Senior Cash Managers and Treasures, this time focusing on Cash Flow Forecasting.
Proferus has expertise developing tailored solutions to improve cash management and treasury processes and has a strong partnership network to help companies introduce new tools and techniques to achieve their goals.
Breakfast Session
On June 20th, Proferus will host the first breakfast session of a series dedicated to CFOs, Senior Cash Managers and Treasures, this time focusing on Cash Flow Forecasting.
Content
In this session Proferus we will focus on sharing best practices and a round table about the following topics:
Joining us in this breakfast session, Nicolas Christiaen Founder of CashForce will give real life examples of how CashForce is deployed to help companies efficiently deploy cash force forecasting for treasury management.
Date & Time
Tue 20 June 2017, 08:30 h – 10:00 h
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Location
Proferus
87 De Entree
1101 BH Amsterdam-Zuidoost
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Proferus would be pleased to welcome you.
If you want to register for the event please click on this link.