Blockchain Business Innovation

May 18, 2017 / G C Network / Comments Off

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Could Budget Sweeps Fix Your Cybersecurity Problem?

By G C Network | July 19, 2018

A recent roundtable discussion in Washington, DC with Federal IT and Cyber leaders focused on the business drivers, challenges and evolving strategies around cybersecurity in government. After an opening presentation…

Cloud Migration Part 1: An Overview

By G C Network | July 17, 2018

Cloud Migration Part One: An Overview Business is all about efficiency and effectiveness. In today’s world, however, those twin goals almost always lead to cloud migration. This anecdotal observation…

A Personal Technology for Good Redux: Call for Code

By G C Network | July 12, 2018

In 2013 I had the opportunity to manage a $2M demonstration of how cloud computing could be used to support natural disasters. In that NCOIC Geospatial Community Cloud (GCC) demonstration,…

A Path to Hybrid Cloud

By G C Network | May 31, 2018

Cloud computing is now an operational reality across every industry. Organizations that fail to leverage this economic, operational and technology consumption model are merely consigning themselves to irrelevance. The rapid…

Human-Led Collaboration with Machines

By G C Network | May 29, 2018

When charged with managing large and complex efforts, an overarching project management task is risk assessment. It involves documenting the current situation, comparing it to the past, and understanding the…

Sensomorphic

By G C Network | May 28, 2018

240 million results are returned in 1.06 seconds (as of May 28, 2018) when you search for cloud computing in a Google search. With that much information available, and that many…

Artificial Intelligence and the Project Manager

By G C Network | May 25, 2018

Organizations use teams to create wealth, market share, customer service, competitive advantage, and organizational success. Effective teams accomplish their assigned end goals by engaging in collaboration as a joint learning…

Building A Collaborative Team

By G C Network | May 18, 2018

Recently, Harvard Business Review cited some insightful research into team behavior at 15 multinational companies. It found that although these teams tended to be large, virtual, diverse, and composed of…

Welcome the New Project Manager!

By G C Network | May 18, 2018

According to CIO.com, the six traits of highly effective project managers are: Be a strategic business partner who can offer higher-level strategic leadership skills, not just technical management skills, provide…

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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.