Blockchain Business Innovation

Cloud computing: A data-centric business model

By G C Network | October 3, 2015

According to the National Institute of Standards and Technology: “Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers,…

John Mayer At Dell World 2015!! (Oh, I’ll be there too.)

By G C Network | September 30, 2015

An artist who defies all boundaries, John Mayer has won seven Grammy Awards and sold more than 17 million albums worldwide. The singer, songwriter and guitarist’s skills have been widely…

Data-centric Security: The New Must Have

By G C Network | September 23, 2015

Where is your data right now? The explosion of cloud computing and consumer IT means that your data, as well as data about you, can be virtually anywhere.Having your data and the…

Personal email:Pathway to Cybersecurity Breaches

By G C Network | September 14, 2015

As a business communications tool, email is the dominant option, and many corporations have policies that allow the use of personal email on corporate computers. In a recent Adobe Systems…

IEEE Cloud Computing: Legal Clouds

By G C Network | September 11, 2015

The new issue of IEEE Cloud Computing is now available!   This special issue looks at how to balance privacy with legitimate surveillance and lawful data access. Some of the…

Cloud hosting: Look beyond cost savings and weigh pros, cons

By G C Network | September 3, 2015

Is your company struggling with the idea of using “cloud hosting” in order to save money? Truth be known, using cost savings as the primary reason for moving to cloud…

“Cloud First” Lessons Learned from ViON

By G C Network | August 25, 2015

In 2011, then United States CIO Vivek Kundra released the US Federal Cloud Computing Strategy [1]. In the executive summary he pointed to cloud computing as a key component of…

Looking for Security Peak Performance?

By G C Network | August 19, 2015

You can find it at Dell Peak Performance 2015!!! I’ll be there at the Aria Resort and Casino in Las Vegas attending as a social media correspondent with a full…

The Cybersecurity Sprint: Are we safe yet?

By G C Network | August 7, 2015

UPDATE: NBC News reports U.S. officials have disclosed a hack of the Pentagon’s Joint Staff unclassified email system, which took place on July 25. Recent unauthorized access to a U.S. government database…

Cloud Computing + Things = “Information Excellence”, Not IoT

By G C Network | July 31, 2015

The Internet of Things (IoT) has quickly become the next “be all to end all” in information technology. Touted as how cloud computing will connect everyday things together, it is…

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.
 
 

This post was brought to you by IBM Global Technology Services. For more content like this, visit ITBizAdvisor.

 

Cloud Musings

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