Blockchain Business Innovation

Cloud Acquisition Strategy, Customized to the Right Cloud Model

By G C Network | March 17, 2015

by Melvin Greer Managing Director, Greer Institute  This year has brought big news, significant changes and increased awareness of the adoption of cloud computing in Government. In fact Cloud computing…

Women leading us to the cloud

By G C Network | March 14, 2015

By Jodi Kohut Government Cloud Computing Professional   By Jodi Kohut Government Cloud Computing Professional March is Women’s History Month. As we celebrate women and their role in our history, our…

CSCC Cloud Privacy Summit – Reston, VA March 26th

By G C Network | March 12, 2015

Please join the Cloud Standards Customer Council in Reston, Virginia on Thursday, March 26th for the Cloud Privacy Summit. This all day symposium will stimulate lively, interactive discussion and deliver…

Bangladesh: A country transforms with IT

By G C Network | March 9, 2015

Born out of a nine-month war of liberation in 1971, Bangladesh is a parliamentary democracy and a predominately Muslim country. After years of being a center for textile manufacturing, the country of…

Introducing CloudTek University

By G C Network | March 5, 2015

Visit us at https://www.CloudTekU.com Cloud Computing Basics https://sqz.co/Fs34AaX Cloud Technologies https://sqz.co/s2ACt68 Cloud Security https://sqz.co/Mp7m3TE Business Innovation https://sqz.co/j4NZb37 Cloud Computing Pilots https://sqz.co/e5HFy24 Cloud Operations https://sqz.co/p5CJo24 CloudTek Overview https://sqz.co/k9S4Ewt ( This content…

The Emerging Science of Digital Forensics

By G C Network | February 24, 2015

By Melvin Greer Managing Director, Greer Institute for Leadership and Innovation Without question, the rise in cyberleaks, nation-state cyber terrorism and the beach of consumer data across multiple industry domains…

African-Americans and STEM careers: Getting a foot in the door

By G C Network | February 16, 2015

By Sandra K. Johnson Technology leadership is driven by the innovation and creativity of science, technology, engineering and mathematics (STEM) professionals. STEM careers offer some of the highest-paying jobs and the…

U.S. Department of Defense sets its cloud security guidelines

By G C Network | February 12, 2015

By Jodi Kohut Those watching federal cloud security in the defense space were pleased to learn the Defense DOD Cloud Computing Security Requirements Guide (v1) (SRG) last month. This 152-page document outlines…

Circles are good for the economy

By G C Network | February 9, 2015

Contrary to what your mother may have told you, going in circles is sometimes a good thing. When it comes to our economy, it is actually a great thing. Throughout…

2015 National Chief Information Security Officer Survey

By G C Network | February 4, 2015

Cybersecurity breaches are seemingly making headline news every day. Recent cases have highlighted identity theft, the loss of personal financial data, and the disclosure of sensitive national security information.  The…

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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