Blockchain Business Innovation

International Public Sector Cloud Computing Summit in DC

By G C Network | March 7, 2012

Next week at the Hyatt Regency in reston, Virginia, the Cloud Standards Customer Council will be holding it’s Public Sector Cloud Summit. This two day cloud event will feature international public sector Cloud…

Jill T. Singer, NRO CIO, Named One of 10 Top Women in Cloud Computing !!

By G C Network | February 17, 2012

CONGRATULATIONS to National Reconnaissance Office (NRO) CIO Jill T. Singer for being selected as one of the 10 winners of the first annual CloudNOW awards presented at the Cloud Connect Conference in…

NJVC® and Virtual Global Announce Release of PaaS White Paper: Paper Clarifies the Confusion Surrounding PaaS for Federal IT Buyers—Why It Is Important and How It Can Cut Development Costs by 50 Percent

By G C Network | January 27, 2012

VIENNA, Va., Jan. 23, 2012 —NJVC®, one of the largest information technology solutions providers supporting the U.S. Department of Defense, and Virtual Global, a premier provider of software and cloud…

December 2011: GovCloud Moves From Policy to Law

By G C Network | December 27, 2011

Over the past years, government cloud computing has steadily moved forward from it’s early beginnings as an interesting curiosity: December 23, 2008 – Now really. Should the Obama administration use…

GovCloud.com !! The New Hub for Government Cloud Computing

By G C Network | November 17, 2011

It gives me great pleasure to announce the relaunch of GovCloud.com! GovCloud is the “go to” place for everything related to federal cloud computing. Our mission is to help federal…

Backupify Names Top 10 Cloud Computing Experts to Follow on Twitter

By G C Network | November 15, 2011

THANK YOU BACKUPIFY!!!! Thank you for the honor of being on your Top 10 List! Backupify is the leading backup provider for cloud based data, offering an all-in-one archiving, search…

NJVC® Cloud Computing Expert Kevin Jackson to Speak at NIST Cloud Computing Forum & Workshop IV on Nov. 3 in Gaithersburg, Md.

By G C Network | October 29, 2011

VIENNA, Va., Oct. 28, 2011 — NJVC®, one of the largest information technology solutions providers supporting the U.S. Department of Defense (DoD) , is pleased to announce that Kevin Jackson,…

NJVC® General Manager, Cloud Services, Kevin Jackson to Moderate “Cloud Computing and the Intelligence Mission” Panel at GEOINT 2011 Symposium

By G C Network | October 18, 2011

Vienna, Va., Oct. 13, 2011 — NJVC® , one of the largest information technology (IT) solutions providers supporting the U.S. Department of Defense, is pleased to announce that Kevin Jackson,…

NJVC® Spotlights Cyber Security and Automated IT at Gartner Symposium/ITxpo® 2011

By G C Network | October 14, 2011

VIENNA, Va., Oct. 4, 2011 — NJVC®, one of the largest information technology solutions providers supporting the Department of Defense, announces its lineup for the Gartner Symposium/ITxpo®, Oct. 16 –…

NJVC® to Demonstrate Enterprise Automation at GEOINT 2011

By G C Network | October 10, 2011

VIENNA, Va., Oct. 6, 2011 — NJVC®, one of the largest information technology solutions (IT) providers supporting the U.S. Department of Defense (DoD), is pleased to offer live, compelling demonstrations…

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.

 

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