Blockchain Business Innovation

Review: Executive’s Guide to Cloud Computing by Eric Marks and Bob Lozano

By G C Network | January 26, 2010

Recently, I had the privilege of reviewing an advance copy of Executive’s Guide to Cloud Computing by Eric Marks and Bob Lozano. Available now for pre-order on Amazon, this guide is a…

DoD Cloud Computing Session at 5th International Cloud Expo

By G C Network | January 22, 2010

I’m happy to announce that I will be presenting on DoD Cloud Computing Advances at the 5th International Cloud Expo, April 19-21, 2010 at the Javits Convention Center in New…

InformationWeek Prediction: Cloud Computing for Classified Software

By G C Network | January 20, 2010

Yes, I know you’re sick of all the predictions, but I just can’t resist pointing you to Nick Hoover’s “5 Predictions For Government IT in 2010“. In summary: 1. Cybersecurity…

“Shaping Government Clouds” Just Released

By G C Network | January 12, 2010

As part of the On The Frontlines series, Trezza Media Group has just released it latest on-line electronic magazine. “Shaping Government Clouds” includes: Pete Tseronis, Chairman of the Federal Cloud…

Fed Tech Bisnow: If Nostradamus Did RFPs?

By G C Network | January 6, 2010

Nostradamus may no longer be with us, but check out the “beltway” predictions from Tech Bisnow! “Two hot trends almost all mentioned: early uptick on M&A and cloud computing ubiquity”…

Navy CANES and Cloud Computing

By G C Network | January 4, 2010

During the first quarter of 2010, the Navy is expected to make the first selection for the Consolidated Afloat Network Enterprise System (CANES). CANES is just one component of the…

GovCloud, “Cloud Musings” rated “Influential” by Topsy

By G C Network | January 3, 2010

Log in with Twitter A search engine powered by tweets My sincere appreciation and thanks goes out to Topsy for rating my tweets as “Influential”! Topsy is a new kind…

Jill Tummler Singer Appointed NRO CIO

By G C Network | January 1, 2010

Effective January 1, 2010, Jill Tummler Singer will take the reigns as CIO for the National Reconnaissance Office (NRO). As the CIA Deputy CIO, Ms Tummler has been a proponent…

Most Influential Cloud Bloggers for 2009

By G C Network | January 1, 2010

Thank you Ulitzer and SYS-CON Media for naming me to your list of the most influential cloud computing bloggers for 2009. My hearty congratulations go out to the other bloggers…

2009: The Government Discovers Cloud Computing

By G C Network | December 23, 2009

2009 was truly a watershed year for Federal information technology professionals. After inaugurating the first Cyber-President we saw the appointment of our first Federal CIO and the rapid adoption of…

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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