Blockchain Business Innovation

Craigslist.org Founder Hypes Government Transformation

By G C Network | July 29, 2009

Craig Newmark, best known for being the founder of the Craigslist website, is working hard to get the word out on Gov2.0. Last week in FedScoop, he really laid out…

Maria Spinola: An Essential Guide to Cloud Computing

By G C Network | July 27, 2009

Maria Spinola, a Strategic IT Marketing and Innovation Adviser and editor at www.Cloudviews.org, has recently published An “Essential Guide to Possibilities and Risk of Cloud Computing“. Her very pragmatic approach…

US Interior Department IT Infrastructure Vision

By G C Network | July 22, 2009

Tim Quinn, Chief Infrastructure Officer, US Department of Interior, sees IP convergence as a key part of DoI’s future IT infrastructure. During the Federal News Radio Executive Forum, he also…

DHS Acting CIO Margie Graves on Current DHS Challenges

By G C Network | July 20, 2009

During the Federal News Radio Executive Forum, Department of Homeland Security (DHS), Acting CIO, Margie Graves provides a unique insight on the department. In her remarks, she described the challenges…

DHS EAGLE & First Source Digital Guide Launched

By G C Network | July 17, 2009

The Enterprise Acquisition Gateway for Leading Edge Solutions (EAGLE) is a multiple-award indefinite delivery/indefinite quantity (IDIQ) contract vehicle, specifically designed as the preferred source of information technology (IT) services for…

Looking Forward To GovIT Expo!

By G C Network | July 14, 2009

I am humbled and more than pleased to serve as the Technical Chair of SYS-CON’s 1st Annual Government IT Conference & Expo. To highlight the importance of this conference, I…

Publishing Synergy: Blog, Twitter and Ulitzer

By G C Network | July 13, 2009

Have you ever been given the task of building and executing an aggressive customer outreach program? Well I received my assignment about a year ago and trust me; the budget…

Input: Cloud Computing, Security to Drive US Gov’t IT Spending

By G C Network | July 12, 2009

According to a PC World article, cloud computing and cybersecurity will be the high-growth areas for government IT spending over the next few years. The analysis and consulting firm Input…

GovIT Expo 2009

By G C Network | July 11, 2009

I’m happy to announce my appointment by SYS-CON to be the Technical Chair of the 1st Annual Government IT Conference & Expo. This event is a 1-day deep dive into…

NCOIC To Help FAA on NextGen

By G C Network | July 7, 2009

Today, the U.S. Federal Aviation Administration (FAA) and the Network Centric Operations Industry Consortium (NCOIC™) announced an agreement to work together to advance the Enterprise Architecture of NextGen, FAA’s national…

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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