Blockchain Business Innovation

DISA Chief Technologist States Plan for Cloud

By G C Network | September 23, 2008

In an interview reported on in this month’s Military Information Technology magazine, David Mihelcic, DISA Chief Technology Officer, has laid out his goal for the agency’s cloud computing initiative. As…

Google, GeoEye, Twitter. What a Combination!

By G C Network | September 23, 2008

On September 9th, Bob Lozano posted his kudos to GeoEye for a successful launch of GeoEye-1. (Hey Bob! Where’s that post on your “cloud failure” last week?) According to their…

RightScale goes Transcloud

By G C Network | September 22, 2008

Over the weekend, Maureen O’Gara of SYS-CON media reported that RightScale is now offering a “first in industry” capability to provide application management across multiple cloud infrastructures. It now offers…

A Bill to Outlaw Cloud Computing…..

By G C Network | September 19, 2008

… is what we may see if we don’t educate our lawmakers now! That seemed to be one of the main point at last week’s Google workshop in DC. Berin…

NCOIC and Cloud Computing

By G C Network | September 18, 2008

Yesterday the Network Centric Operations Industry Consortium (NCOIC) had a very good session on cloud computing during their plenary session in Falls Church, VA. Led by NCOIC’s Bob Marcus, speakers…

Military Information Technology Cloud Computing Collaboration

By G C Network | September 17, 2008

Today, we’re happy to announce what we believe to be an industry first. “Military Information Technology Magazine“, as the publication of record for the defense information technology community, is collaborating…

Is 99.999% reliability good enough?

By G C Network | September 16, 2008

According to Reuven Cohen in his recent post, Cloud Failure: The Myth of Nines , the whole concept of reliability may be meaningless. “In the case of a physical failure…

You Probably Use Cloud Computing Already.

By G C Network | September 15, 2008

56% of internet users use webmail services such as Hotmail, Gmail, or Yahoo! Mail. 34% store personal photos online. 29% use online applications such as Google Documents or Adobe Photoshop…

20 Real-Life Challenges of Cloud Computing

By G C Network | September 12, 2008

Nikita Ivanov of GridGain offers some excellent insight into the nuts and bolts of getting the cloud to work. Definitely worth a read. To summarize: Most likely you do NOT…

3Tera Announces Global Cloud Services

By G C Network | September 11, 2008

Last week, 3Tera has announced the availability of global cloud services, based on their AppLogic grid operating system. 3Tera is currently running data centers in seven countries (United States, Japan,…

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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