Blockchain Business Innovation

A group of people standing in front of a large screen.

2018 AT&T Business Summit: Security “in” and “of” the Cloud

By G C Network | November 10, 2018

While public cloud is undoubtedly an outsized piece of the conversation, news headlines of the latest data breach can make this move a very frightening proposition. The question of how…

A group of people standing in front of a display.

My Brush with Royalty: Queen Latifah

By G C Network | November 9, 2018

Queen Latifah! Hip Hop Icon. Movie Star. Television Star. Fashion Model. Songwriter. Producer. Entrepreneurial Genius!? YES! Dana Elaine Owens, her given name, is co-owner of Flavor Unit Entertainment, a firm that includes…

What’s New in Puppet 5?

By G C Network | November 9, 2018

Puppet 5 is released and comes with several exciting enhancements and features that promise to make configuration management much more streamlined. This article will take a comprehensive look at these…

5 Reasons Why Ansible is the Best CM Tool Out There?

By G C Network | November 9, 2018

Amidst volatile markets, dynamic technology shifts, and ever-increasing customer demands, it is imperative for IT organizations to develop flexible, scalable and high-quality applications that exceed expectations and enhance productivity. A…

Machine learning APIs for Google Cloud Platform

By G C Network | November 9, 2018

Google Cloud Platform (GCP) is considered to be one of the Big 3 cloud platforms among Microsoft Azure and AWS. GCP is widely used cloud solutions supporting AI capabilities to design and…

What Is The Most Important Part of Architecture?

By G C Network | November 9, 2018

I always find it interesting to hear what people view architecture as. A lot of people think it’s just about the design aspect, where you get to put pen to…

Cloud migration best practice Part 4: Executing the migration

By G C Network | September 16, 2018

This series has stepped through cloud migration best practices. After providing an overview, we discussed: Classifying business-critical data. Updating organizational IT governance policies. Application screening and cloud workload selection. How to…

Cloud Migration Best Practice Part 3: Application Portfolio Analysis

By G C Network | September 16, 2018

In part three of this series on cloud migration best practice, I will focus on migrating the application itself. If you haven’t had the opportunity to read our recommendations from part…

Why Use Immutable Storage?

By G C Network | September 11, 2018

Data has become a global currency, and its value has nowhere to go but up.  According to The Economist online, the world’s most valuable resource is no longer oil, but…

CLOUD ACT: What Does That Mean for Your Cloud Storage

By G C Network | August 31, 2018

When Congress names a law after you, it’s getting serious.  That is where we are now with cloud computing.  The Clarifying Lawful Overseas Use of Data Act or CLOUD Act (H.R. 4943) 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

( Thank you. If you enjoyed this article, get free updates by email or RSS – © Copyright Kevin L. Jackson 2017)

Follow me at https://Twitter.com/Kevin_Jackson
Posted in

G C Network