Blockchain Business Innovation

May 18, 2017 / G C Network / Comments Off

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Transformation Network

By pwsadmin | May 15, 2021

The Achilles heel of every transformative business model is their reliance on ever increasing amounts of data that need to be transported quickly across wide area networks and processed at…

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Essential Characteristics of Cloud Computing as Digital Transformation

By pwsadmin | May 15, 2021

Hybrid IT blends traditional datacenters, managed service providers, and cloud service providers to deliver the necessary mix of information technology services. This IT consumption model enables a composable infrastructure which…

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Transformation Innovation

By pwsadmin | May 15, 2021

4 Factors Driving Digital Transformation ROI The critical assessment factors for cloud ROI risk probability are the following: Infrastructure utilization Speed of migration to cloud Ability to scale business/mission processes…

Transformation Frameworks

By pwsadmin | May 15, 2021

Digital transformation necessitates changes in an organizationâ€™s operational processes. According to Harvard, a focus on operations can lead to business process optimization and entirely new revenue streams. Three common routes…

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Transformation Infrastructure

By pwsadmin | September 26, 2020

Hybrid IT enables a composable infrastructure which describes a framework whose physical compute, storage, and network fabric resources are treated as services. Resources are logically pooled so that administrators need…

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Essential Characteristics of Cloud Computing as Digital Transformation

By pwsadmin | September 25, 2020

A survey of 2,000 executives conducted by Cognizant in 2016 identified the top five ways digital transformations generate value: Accelerating speed to market Strengthening competitive positioning Boosting revenue growth Raising…

Embrace Transformation

By pwsadmin | September 22, 2020

From a business perspective, differentiating business processes and quality customer service are central to overall success. Business leaders must therefore clearly identify and measure how information technology contributes to the…

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Computer Vision Advances Zero-Defect Manufacturing

By pwsadmin | July 25, 2020

by Kevin L. Jackson Electronics manufacturers operate in a challenging environment. Itâ€™s hard enough to keep up with the ever-accelerating rate of change in the industry. Now customers want increasingly…

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Real-Time Analytics Power the Roadway of the Future

By pwsadmin | July 25, 2020

By Kevin L. Jackson The complexities of citywide traffic are pushing the limits of existing transportation management systems. Outdated infrastructure is based on proprietary, single-purpose subsystems, making it costly to…

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Thriving on the Edge: Developing CSP Edge Computing Strategy

By pwsadmin | March 6, 2020

Communications Service Providers (CSPs) are facing significant business model challenges. Referred to generally as edge computing, the possibilities introduced by the blending of 5G networks and distributed cloud computing technologies are…

Is there more than bitcoin to blockchain?

Absolutely, because today’s blockchain is opening up a pathtowards the delivery of trusted online services.

To understand this statement, you need to see blockchain as more that it’s more famous bitcoin use case. As a fundamental digital tool, blockchain is a shared, immutable ledger for recording the history of transactions. If used in this fashion, it can enable transactional applications that can have embedded trust, accountability and transparency attributes. Instead of having a Bitcoin blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network, a Business blockchain can provide a permissioned network with known and verified identities. With this kind of transactional visibility, all activities within that network are observable and auditable by every network user. This end-to-end visibility, also known as shared ledgering, can also be linked to business rules and business logic that can drive and enforce trust, openness and integrity across that business network. Application built, managed and supported through such an environment can now hold a verifiable pedigree with security built right in that can:

Prevent anyone – even root users and administrators – from taking control of a system;
Deny illicit attempts to change data or applications within the network; and
Block unauthorized data access by ensuring encryption keys can never be misappropriated.

From an industry vertical point of view, this approach can:

Give financial institutions an ability to settle securities in minutes instead of days;
Reduce manufacturer product recalls by sharing production logs with original equipment manufacturers (OEMs) and regulators; and
Help businesses of all types more closely manage the flow of goods and related payments with greater speed and less risk.

Innovators within just about any industry can build, run and manage their own business blockchain network. And even if the organization isn’t quite ready to do the heavy lifting, it can consume a blockchain service from companies like IBM.

Ready-made frameworks as also available from the Hyperledger Project, an open source collaborative effort created to advance cross-industry blockchain technologies. Available hyperledger business frameworks include:

Sawtooth – a modular platform for building, deploying, and running distributed ledgers that includes a consensus algorithm which targets large distributed validator populations with minimal resource consumption.
Iroha – a business blockchain framework designed to be for incorporation into infrastructural projects that require distributed ledger technology.
Fabric – a foundation for developing applications or solutions with a modular architecture that allows components, such as consensus and membership services, to be plug-and-play.
Burrow – a permissionable smart contract machine that provides a modular blockchain client with a permissioned smart contract interpreter built in part to the specification of the Ethereum Virtual Machine (EVM).

If you’re team is looking to innovate and take a leadership position within your industry, business blockchainsmay be the perfect enhancement for your business focused application.