Blockchain Business Innovation

“Cash for Clunkers” Should Have Used the Cloud!

By G C Network | August 24, 2009

Rich Bruklis wrote an excellent essy on how the government missed a perfect opportunity to use cloud computing. In “Cloud Opportunity Missed” he writes: “It appears that the voucher system…

US Navy Experiments With Secure Cloud Computing

By G C Network | August 20, 2009

This week in San Diego, CA the US Navy held the initial planning conference for Trident Warrior ’10. The Trident Warrior series is the premier annual FORCEnet Sea Trial Event…

GSA To Present On Cloud Initiative at NCOIC Plenary

By G C Network | August 13, 2009

A General Services Administration (GSA) representative is now scheduled to provide a briefing on the agency’s cloud computing initiative during a “Best Practices for Cloud Initiatives using Storefronts” session on…

FAA CIO Focuses on Cybersecurity

By G C Network | August 12, 2009

During this week Federal Executive Forum, FAA CIO Dave Bowen mentioned protection against software vulnerabilities, wireless intrusion and website vulnerabilities as his top cybersecurity priorities. As the Assistant Administrator for…

DHS Asst. Secretary Addresses Cybersecurity Priorities

By G C Network | August 11, 2009

Greg Schaffer, Assistant Secretary for CyberSecurity & Communications for the US Department of Homeland Security, sees Trusted Internet Connections, EINSTEIN, and front line defense of the nation’s networks as top…

US DoD Chief Security Officer on Cybersecurity Priorities

By G C Network | August 10, 2009

In a Federal Executive Forum interview, Robert Lentz, Chief Security Officer for the US Department of Defense, highlighted the departments cybersecurity priorities. Mr. Lentz is the Deputy Assistant Secretary of…

Twitter Under Denial of Service Attack

By G C Network | August 6, 2009

Multiple sources are reporting that Twitter continues to be under a denial of service attack. Some are speculating that this represents the power of a coordinated bot network attack. For…

NCOIC Holding Full Day Cloud Computing Session

By G C Network | August 5, 2009

The Network Centric Operations Industry Consortium (NCOIC) will be holding a one-day cloud computing session during its plenary meetings, 21-25 September at the Fair Lakes Hyatt in Fairfax, VA. A…

Sevatec a New Player in the Federal Cloud Computing Market

By G C Network | August 3, 2009

Just in time for the new Federal Cloud Computing Storefront, Sevatec, Inc. is announcing the development of a toolkit to help federal agencies transform their enterprise architectures to cloud computing…

GSA Releases Cloud Computing RFQ

By G C Network | July 31, 2009

Following through on a much anticipated action, GSA released their Cloud Computing Request For Quotation (RFQ) today. Cloud computing is a major part of President Obama’s reform effort and this…

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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